Pitches on Shark Tank India Season 2 Episode 1

Shark Tank India Season 2 Episode 1 Recap

Shark Tank India has returned for its second season. People are now excited more than ever for this new version. The new season did see one new judge and he has replaced the controversial Ashneer Grover. The motto of Shark Tank is "Entrepreneur kiLeherEkBaarFirse". Shark Tank India featured its first episode recently on January 2, 2023.

Who are the Judges at Shark Tank India Season 2

Now, let us come to the sharks who are the face of this show. The sharks for the second season are Anupam Mittal, Aman Gupta, Vineeta Singh, Namita Thapar, PeyushBansal, and Amit Jain. These sharks will be the judges for the entire season 2 of Shark Tank. It is surely going to be exciting more than ever.

Now, further, in this article, we will talk about all the pitchers who were seen in the first episode of this season. Let us hear some interesting business pitches and how much they were funded.

Pitches on Shark Tank India Season 2 Episode 1

#Pitch1 : Hoovu Fresh Flowers

• Founders: YeshodaKaruturi and Rhea Karuturi
• Valuation: 50 crores
• Funds Received: Rs 1 crore for 2% equity
• Business Website: https://hoovufresh.com/

This company was started back in 2019 by YeshodaKaruturi and Rhea Karuturi. The sisters have changed the flower business in India. Their interest in flowers started when their father rose a farm back in 1994. Their father not only grew farms in India but, in Kenya and Ethiopia.

Both these sisters saw that the flower business is highly unorganized and can grow rapidly if taken care of. Both the sisters worked at Karuturi their family business and gained knowledge related to this field.

The flowers they currently manufacture have a shelf life of 2-15 days. This is where they are reducing the wastage from 40% to 2%. As per their official website, 192,000 acres of land being used to grow flowers are just thrown away. Within one month this company generated 1.1 crore sales in the Indian market.

Interestingly, this value shocked all the sharks, and was quite impressed. On the other hand, their average sales in a year recorded Rs 55-60 lakhs. In the end, they received two offers from which they accepted Aman and Peyush's offer for Rs 1 crore for 2% equity.

#Pitch 2 : Dorje

• Founders: Sparsh and Ishaan
• Valuation: 6 crores
• Funds Received: Rs 30 lakhs for 10% equity
• Business Website: https://dorjeteas.com/

The second pitchers in this show were Sparsh and Ishaan whose product was Darjeeling tea. They started this beautiful tea and coffee company just after the lockdown. The problem they are solving is most tea gardens are near Darjeeling and are un-accessible and unaffordable.

But, by getting one of dorje's subscription packages you can get premium quality products at a good price tag. The product sold by their company, Dorje offers authentic, organic, and handcrafted tea for consumers.

This company had a gross profit of Rs 11 lakhs with a gross margin of 75%. Unfortunately, both the founders reveal that they are currently running at a loss of Rs 2 lakhs. He speaks of his product (both tea and coffee) plucked in different seasons and how they taste different in different weather conditions.

Now, this is where he attracts the attention of every shark. But, performance is what they will look at so, in the end, he receives Rs 30 lakhs for 10% equity from Anupam, Peyush, and Vineeta.

#Pitch 3 : Recode

• Founders: NeetuBansal, PreetiTrehan, ShaliniTrehan, Shelly Bansal, and RahulSachdeva
• Valuation: 100 crore
• Funds Received: Not received
• Business Website: https://shop.recodestudios.com/

Recode first started its business in the cosmetics line way back in 2014. Over the years, the company only saw huge profits from the market. This company does not manufacture products instead they import from Thailand, China, and Germany.

The labeling and selling are done from Mumbai, Sonipat, and Parwanoo. Two founders who came were confident enough to boost their business in the future. Currently, this team has opened up franchises in Faridabad, Delhi, and Raipur. Interestingly, the customer acquisition method of this company is unique.

Anyone willing to enroll with this company will need to attend a 3-4 hour class and pay Rs 1500. Now, they give knowledge about the product they sell and offer all the subscribers free lunch for the day along with free Rs 1500 worth of products.

They asked sharks Rs 1 crore for 1% equity. They are expecting to earn around Rs 30 crore profit for FY2023-23. Unfortunately, due to the same business industry, no sharks offered any amount to them because of keeping the relation among their friends.