Shark Tank India Season 3: 24-year-old pitchers of a smart mop seek Rs 15 lakh for 1% equity; will they crack the deal?

If you are a follower of Shark Tank India Season 3, you might be aware that the latest episodes of the show are pressing on promoting environment-friendly products or services. The newest episode of the show, which can be viewed on Sony LIV, sees Aman Gupta, Namita Thapar, Vineeta Singh, Azhar Iqubal and Anupam Mittal as investors (popularly addressed as Sharks) on the panel. At the beginning of the episode, two young budding pitchers of a brand offering cleaning products wish to crack a deal on the show. Here’s what happens next.

Do people in India need a ‘smart’ mop? Sharks answer

We know that the Government of India is actively promoting the Swachh Bharat Mission - the world's largest sanitation initiative was launched by the Prime Minister in 2014. Inspired by this initiative, two 24-year-old budding entrepreneurs, Yogindra and Mehul, of a brand – Caspian – offer tech-driven cleaning products. One of the products under the brand is a mop, which aims to ease the process of cleaning floors in a household. The ‘smart mop’, as termed by the pitchers, makes minimal use of water to clean the floors from dirty stains.

Watch 50k+ Titles on SonyLiv, Zee5, Fancode and 20+ OTTs and 250+ Live TV channels with OTTplay Premium subscription at just ₹75 for the first month. 

The price of the mop, however, costs thousands of rupees presently, which eventually became a cause of concern for the Sharks. After Yogindra and Mehul wrapped up their pitch, they got flooded with lots of questions from the Sharks. During the question-and-answer session, it was unveiled that the two entrepreneurs have an engineering background. The two pitchers sought Rs 15 lakh in exchange for 1% equity in their company. The smart mop weighs about 2.2 kilogram.

Also Read: Shark Tank India Season 3 – THIS brand cracked a 5-shark deal worth Rs 2 crore in exchange for 4% equity 

Towards the end of the episode, none of the Sharks invested in the company. This was primarily because the Sharks felt that the budding pitchers were driven with an ‘engineering mindset’ and could not foresee the challenges in the marketplace. Merely designing a unique product is not enough, but one needs to have sharp business acumen to run a company. Because of this reason, the Sharks did not invest in the company.

Also Read: Shark Tank India 3 – Aman Gupta’s reaction to fellow investors matching his offer is hilarious | Watch