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Shark Tank India 4: Pitchers accused of copying major brands still bag deal from Ritesh Agarwal and Namita Thapar; here’s how they did it
In the latest episode of Shark Tank India 4, pitchers were accused of copying designs from a big brand. But they still managed to bag a deal.
The latest episode of Shark Tank India Season 4 showed a unique pitch by two entrepreneurial brothers, Tushar and Ravi Mundada, from Maharashtra. Their company, Aquapeya, operates in the water and soft drinks market, but it wasn’t their products alone that caught the sharks’ attention—it was their uncanny resemblance to offerings from giants like Pepsi and Coca-Cola.
Despite facing sharp criticism for their approach, the brothers managed to walk away with a deal. Tushar and Ravi introduced their venture, Aquapeya, and sought ₹70 lakh for 2% equity, valuing their business at ₹35 crore. They shared their journey of launching the company in 2018 after mortgaging their house and taking a ₹2.5 crore loan to set up a bottling plant.
The brothers claimed to have captured a significant market share in Maharashtra by studying consumer preferences. They tailored their packaging based on regional biases, using color-coded bottles—such as green for one district and blue for another—to cater to local tastes.
However, Namita Thapar was quick to call them out on their product design, accusing them of blatantly copying established brands. “Why have you copied so much?” she questioned. The brothers defended their strategy, saying they follow customer trends rather than imitate.
When asked about their sales figures, the brothers revealed they had closed the last financial year at ₹9 crore and were projecting ₹12 crore for the current year. While the sharks were impressed with their revenue, concerns about their lack of brand differentiation loomed large. Peyush Bansal warned them that without creating a unique identity, they risk being driven out by competitors. Aman Gupta echoed these concerns, stating that their imitation could invite litigation from major players, which made him hesitant to invest.
Despite the reservations, Namita Thapar and Ritesh Agarwal saw potential in the brothers’ business. Namita offered ₹70 lakh for 3% equity with a 2% royalty until her investment was recovered. Ritesh matched her offer but excluded the royalty, offering to leverage his vast hotel network for distribution. He called their venture a potential ₹1,000 crore business if scaled effectively.
After some intense negotiation, Namita and Ritesh agreed to partner, adjusting the royalty to 1%. The brothers struck a deal that valued their business at ₹23 crore, significantly lower than their initial valuation but still a major milestone.
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