Shark Tank: After 2 hours of a lengthy discussion, the shark kept thinking again and again, and finally had to pay Rs 75 lakh
In Shark Tank India Season-2, 3 engineers from VIT Vellore talked about India’s first consumer-based drone company and secured 75 lakh rupees for 15% equity for their business.
Highlights
- The co-founders of consumer-based drone company FPV reached Shark Tank India.
- In the show, his company got funding of 75 lakhs from sharks for 15% equity.
- The popularity of his website increased rapidly after the episode aired.
New Delhi. In the business reality show Shark Tank India Season 2, many young entrepreneurs are impressing crores of viewers including judges with their business models and ideas. Not only the business of these youths but also the story of their struggle is very inspiring. 3 college students who made it to Shark Tank India also impressed the sharks and bagged Rs 75 lakh for a 15% equity stake in their company.
3 engineers from VIT Vellore talked about India’s first consumer-based drone company FPV in the show and asked for Rs 75 lakh for 4 percent equity in their business. After a lengthy discussion, Piyush Bansal, Amit Jain, Aman Gupta, and Namita Thapar offered him funding and bought a 15 percent stake from the company’s co-founders Oshi Kumari, Artha Choudhary, and Deviant Bhardwaj.
After the success of the show, the popularity of the brand increased in
it’s business and after this success in Shark Tank India, the company’s co-founder Arth Chowdhary shared his experience in a conversation with The Indian Express. Arth reported that in the 3 hours after the Shark Tank India episode aired, their website received 27,000 visitors and some ‘very good orders’. He said that as people watch the episode, he expects more sales.
The young entrepreneur said, “He and his team have always believed in the power of expression, after watching the first season, like many entrepreneurs, we too hoped to make it to the show someday. However, we did not know when we would get this opportunity. It was our co-founder Devyant who took the initiative and then we participated in the show and were able to present the business proposal.
Important advice was given to new contestants
Arth Chowdhary said that he was positive about his success, but he never thought that 4 out of 5 ‘sharks’ would join him. The young entrepreneur shared that his conversation with the shark lasted for almost 2 hours, out of which 45 minutes were spent on issues related to expenses. After this, he was sent out twice to discuss and take a decision.
While giving advice to the new pitchers ie participants coming into the show, he gave some important tips, in which he told them what to do and what not to do during the show. Arth Chowdhary said, “Especially for young entrepreneurs like us, I would like to say that success does not come easily. For this, it is necessary to build a strong team, and have a solid strategy to persuade your sharks. Do your research well and answer all the questions with confidence. Keep a positive attitude about your brand in front of the judges.
