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Shark Tank India 4: Anupam Mittal offers 3x to pitchers’ original ask for air purifier brand but still loses deal; here's why
In the latest episode of Shark Tank India 4, Anupam Mittal and Aman Gupta were seen at loggerheads to deal with an air purifier brand. Interestingly, Anupam raised the stakes by over three times.
Shark Tank India 4's latest episode saw Aman Gupta and Anupam Mittal at the edge as they battled out for a deal. A brand named Airth made an entry, and the pitchers explained that they manufacture a device that turns regular ACs into air purifiers, thereby controlling air pollution. Ravi Kaushik and Abhimanyu Kumar, who represented Airth, detailed how the latter's mother's struggles with Asthma made them realize the need for clean air.
As the pitch started, the Sharks were quite interested in the appearance of the device, and they also talked about how it has the potential to improve air quality. During the pitch, Ravi and Abhimanyu mentioned that they want a Rs 60 lakh investment in their company in exchange for 1% equity. Vineeta Singh became quite interested after the pictures demonstrated the device's working and functions. Anupam Mittal offered a deal of Rs 1 crore for 5% after taking a look at the unit economics.
On the other hand, the other deals that Ravi and Abhimanyu received were from Vineeta Singh and Aman Gupta. The former offered Rs 60 lakh for 2%, and the latter matched the same. Talking about the other sharks, Peyush Bansal and Varun Dua opted out; however, the latter praised the founders for being honest about their business.
Well, after listening to the offers from different Sharks, Airth founders came up with a counteroffer and mentioned that they would give 3% in their company for Rs 96 lakh, with all three Sharks in. But Anupam Mittal refused and revised his offer, saying that he would give Rs 2 crores to them but at 5%. Vineeta and Aman also revised their offers- Rs 96 lakhs for 4% equity.
During the negotiation, the co-founder and CMO of boAt offered Rs 1 crore for 3.7% equity and remarked, "I cannot fight for .5% or else I'm out." Lastly, Ravi and Abhimanyu secured a deal with Aman and Vineeta.
ALSO READ: Shark Tank India 4: What made Aman Gupta tell Vineeta Singh, ‘Fire your team immediately’? Find out
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