In a recent segment of Shark Tank India’s third season, the presentation of two entrepreneurs from Ahmedabad, Kanishka Patel and Raj Shah, captured the attention of the investors, known as “sharks.”
The co-founders of WeHear introduced their cost-effective hearing aid technology, aiming to secure a substantial investment of Rs 2.5 crore for just 1% equity.
Although the sharks initially found promise in the product, the pitch evolved into a series of deliberations and negotiations, showcasing the rigorous evaluation process on the show.
Despite their admiration, the investors raised eyebrows regarding the valuation and the source of WeHear’s previous funding.
Anupam Mittal, renowned for his discerning investment approach, remarked on the “unconventional funding” the company had obtained, expressing,
“Aap bohot tigdambaaz ho (You seem very fishy).”
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This skepticism echoed among other sharks like Vineeta Singh and Aman Gupta, who questioned the viability of the proposed investment return given the high valuation.
However, Peyush Bansal, co-founder and CEO of Lenskart, recognized the potential in WeHear’s vision and technology. While other investors withdrew citing concerns about cost and funding, Bansal made a bold move.
He offered Rs 2.5 crore for a 2.5% equity share, with 1.5% designated as advisory equity, emphasizing his role not only as an investor but also as an advisor and stakeholder in the venture.
Despite facing tough scrutiny and initial disinterest from most investors, Kanishka and Raj secured a deal with Bansal. They agreed to his terms, assuring him of delivering strong returns and demonstrating their commitment to making India a focal point in their business strategy.
Also read: https://funniestindian.com/aman-gupta-gave-an-epic-reply-sti-3/
