Shark Tank India 2: Pitchers REFUSE a four shark offer, here’s why

Shark Tank India’s stage has seen a number of entrepreneurs start their entrepreneurial journey with a vision to improve people’s lives, be it through food, lifestyle changes or anything else. The latest entrepreneurs to have their vision were the founders of Diabexy, who pitched their food brand to the sharks in the latest episode of season 2.

The founders of the company, Lokendra and Nishu Tomar gave quite an educating pitch indeed, when they informed the sharks of how diabetes seemed to have taken over the country. The duo talked about the grains we eat have glycaemic load, which is a parameter to measure a food item's effect on a person’s blood sugar.

The duo introduced their company, Nutroactive, which manufactures two types of products- one is a range of weight loss food items marketed under the same brand name, and the other is Diabexy. The latter makes a range of food products which have a glycaemic load which is at least 90% less compared to normal products.

The entrepreneurs asked for Rs1.5 crores in exchange for 1% equity in the company. Anupam Mittal was the first to declare himself ‘out’ saying that the duo were choosing a wrong path when it came to bringing more people in. The company, which boasted of impressive sales figures, ran on Lokendra’s knowledge and Nishu’s execution, so Anupam advised them not to get anyone external.

Meanwhile, Peyush Bansal, Aman Gupta, Namita Thapar and Amit Jain were in a long discussion, and the four had a deal to offer. They offered the duo Rs 1.5 cr for 20% equity. The founders refused, saying that they were keen to keep the company’s valuation at Rs 100 crores and asked if the sharks could spin a deal along those lines.

When the sharks said no, Lokendra declared “I'll improve myself to that level and come back to you again”, leaving Anupam to say that he was proud of the two.