The entrepreneur got four sharks fighting over his deal.
Last Updated: 05.33 PM, Feb 02, 2023
Shark Tank India’s stage has seen more than a few entrepreneurs who took to the tank with a noble purpose in mind, aiming to make the world a better place. The latest season of the popular show has already witnessed a number of trailblazing pitches looking to break the status quo in favour of a better, more sustainable way of life. One such pitcher made history on the latest episode of the show, with his revolutionary sanitary napkin disposal system.
Ajinkya Dhariya came to the tank to pitch his menstrual hygiene management ecosystem, Padcare, which provides a dignified way for menstruating people to access and dispose of pads. The founder introduced three products- a pad dispenser, a pad disposal bin, and a machine that recycles the pads and separates it into wood pulp and plastic.
The sharks were impressed with the level of research and the passion Ajinkya had for his venture, and were touched by his moving story where he was inspired to start PadCare after witnessing ragpickers separate pads out of a landfill with their bare hands. Aman Gupta gave him the moniker ‘the Padman of 2022’. The founder came to the tank with an ask of Rs 50 lakhs for 2% equity. Little did he know the tussle the sharks would have over him.
Peyush Bansal was the first to jump in with an offer, saying that he was willing to offer much more than Rs 50 lakhs at the same valuation that the founder wanted, making the first open offer of the show. The Lenskart co-founder and CEO made an offer of Rs 1 crore for 4% equity.
Anupam Mittal was quick to jump in and match Peyush’s offer, and Vineeta Singh and Namita Thapar too wanted in on the action. Soon it was a face off between the sharks, with Aman enjoying the drama unfolding. Ajinkya’s mother’s advice, that he should not dilute the equity of the company by too much, added to the fun.
Soon Anupam, Namita and Vineeta teamed up and made an offer. Ever humble, Ajinkya requested all four sharks to team up for a deal, and the deal was eventually finalised for Rs 1 crore for 4% equity.