Anupam Mittal and Namita Thapar were missing for the particular episode of Shark Tank India 3
Pitchers at an episode of Shark Tank India.
It is obviously very rare that all judges on Shark Tank India get impressed. On season 3 of the popular business-based show, the Sharks were impressed and struck a deal with a pitcher. This pitcher was a duo dealing in lab-grown diamonds. The concept struck a chord with the Sharks and they all agreed to back the project up.
A brother-sister duo came to Shark Tank India 3. They operare Jewelbox, a brand that works on man-made diamonds in the lab. They demanded Rs. 1 crore for 2 percent equity.
How does that work?
The pitchers offered a test as well. They used a tester pen on a Zarcoin stone, real diamond and their lab-grown diamond. The pen worked on both the diamonds but not on the stone. This obviously left the Sharks impressed.
How did they strike the deal?
Aman Gupta made an individual offer but then joined hands with Radhika Gupta (Edelweiss). Vineeta Singh tried to go solo too but Ritesh Agarwal made the offer with her and in some time, Peyush Bansal asked to collaborate with them on the deal. The pitcher duo requested the Sharks to come together for one big deal and that happened. The deal was closed at Rs. 2 crores for 6 percent equity with all the Sharks (except Anupam Mittal and Namita Thapar, who were not present for the particular episode) on board. It was unusual because the Sharks would usually not invest in a jewellery brand but one person to show most interest was Radhika, who also mentioned that the demand of the product is already high in The US. The more surprising and rare part is that there were no discussions or arguments but all the Sharks agreed that it was a good deal and thus, they decided to invest in the same.