Shark Tank India 2: A business focussed on Mental health leads to a bidding WAR between sharks

A number of entrepreneurs who make their way to Shark Tank India take to the tank with their innovations aimed at making the lives of people around them change for the better. One such business that aimed to foster open conversations around mental health was featured in the latest episode of the show.

Punita and Mahak, the founders of SoulUp, enlightened viewers about how their product, the world's first peer to peer network, helped people share their emotional problems with ‘peers’, people who have gone through similar situations. In addition to discussions on ADHD, depression, bipolar disorder and other serious conditions, people could also participate in discussions about everyday problems as well, either in one on one conversations or through groups facilitated by a therapist.

The noble cause taken up by the founders encouraged sharks Anupam Mittal and Namita Thapar to open up about how they too had battled mental illnesses, and the duo congratulated the entrepreneurs for choosing such a great cause.

All five sharks were left so impressed by SoulUp that it led to an all out bidding war between them. Vineeta Singh and Anupam Mittal teamed up to offer Rs 50 lakhs for 20% in their company, against the founders’ original ask for Rs 50 lakhs for 3% equity. Aman Gupta and Amit Jain teamed up with an offer of Rs 50 lakhs for 15% in the company, while Namita decided to fly solo.

Every single team of sharks were adamant to strike a deal with the founders, and one by one, they started revising their offers to make it more lucrative, decreasing their ask of equity. When the founders made a counter offer of Rs 50 lakhs for 5%, Namita was quick to say yes, expressing how passionate she was to join them in their cause.