Top Startups That Got Rejected in Shark Tank India

India is currently experiencing a startup boom, with entrepreneurs popping up all over the country, from urban centres to rural areas. The term "startup" has become a household name in recent years, and it's no surprise why. The Indian audience was recently treated to a showcase of innovative ideas on the hit TV show "Shark Tank India."

This show quickly rose to popularity and became a favourite among Indian viewers due to its compelling cast of entrepreneurs, cutting-edge ideas, and an impressive panel of judges. The show is a testament to the wealth of entrepreneurial talent in India. While some startups were fortunate enough to receive funding from the "sharks," the show also highlighted the fact that success is possible even without a deal.

The startup scene in India is alive and well, with a steady stream of creative and determined entrepreneurs emerging every day. Whether they secure funding from the sharks or chart their own path, these startups are helping to shape the future of India and beyond.

What is Shark Tank?

Shark Tank is an American business reality TV series aired on ABC in 2009. The show features two groups: entrepreneurs and investors, also known as "sharks." On the show, selected entrepreneurs pitch their businesses to the sharks to secure investments. If their ideas impress the sharks, the entrepreneurs may land a deal.

Inspired by the American version, India launched its version of Shark Tank called "Shark Tank India." The first season premiered on December 20th, 2021, on Sony Entertainment Television. In its first season, seven sharks made appearances and secured various deals. The current season has 12 sharks.

• Namita Thapar, CEO of Emcure Pharmaceuticals
• Vineeta Singh, CEO of Sugar Cosmetics
• Ghazal Alagh, Co-Founder at MamaEarth
• Aman Gupta, Co-Founder, and CMO of Boat
• Anupam Mittal, Founder of Shaadi.com, Mauj, and more
• Ashneer Grover, Previously MD and Co-Founder at BharatPe
• Peyush Bansal, CEO and Founder at Lenskart

The new sharks added after season one are Amit Jain, Deepinder Goyal, Azhar Iqubal, Ritesh Agarwal, Varun Dua, Radhika Gupta, and Ronnie Screwvala.

Successful Startups Rejected in Shark Tank India

The first season of Shark Tank India was a triumph for both the sharks and the entrepreneurs. The show received 62,000 entries from aspiring business owners, from which 198 were selected to pitch their ideas to the sharks. 67 of these pitches resulted in successful deals.

Although not all startups were able to secure a deal on the show, many went on to achieve great success. Here are some of the most successful startups that were rejected on Shark Tank India:

1. Moonshine
2. Urban Monkey
3. Morriko Foods
4. ExperientialEtc
5. Agri Tourism
6. Torch-it
7. Shades of Spring
8. Green Protein
9. PDD Falcon
10. Kunafa World
11. Theka Coffee
12. Zypp
13. Recode Studios
14. Atmosphere
15. Flatheads
16. Organic Smokes
17. Magic Of Memories
18. Coezy Sleep

Moonshine

Moonshine is Asia and India's first meadery, founded in 2016 by Rohan Rehani and Nitin Vishwas. Mead, the oldest alcoholic beverage, is created by fermenting honey with fruits and spices and contains no artificial flavours or colours. The founders appeared on Shark Tank India with a valuation of INR 160 crores and requested INR 80 lakhs in exchange for 0.5% equity in the company. Although all the sharks expressed interest, the founders did not find the counteroffer appealing, and the deal was rejected.

Urban Monkey

Urban Monkey is a Mumbai-based streetwear fashion brand founded by Yash Gangwal in 2013. Aimed at young people in India, the brand appeared on Shark Tank India with a valuation of INR 100 crores.

Its product line includes caps, sunglasses, belts, backpacks, clothing and more, which have been popular with celebrities such as Rannvijay Singha and Raftaar. Yash sought an INR 1 crore investment in exchange for 1% equity, but despite the brand's success, the sharks rejected the deal.

Morriko Foods

Morriko Pure Foods, formerly Kamdhenu Foods, is a Gujarat-based startup specializing in solar-dehydrated fruit and vegetable powders. Established in 2002 by Bipin Shah and rebranded as Morriko in 2017 with the addition of co-founders Tanmay Shah and Kalyani Shah, the startup aims to promote healthy snacking. It offers a variety of products, including mango chunks, guava chunks, drumstick powder, herbal teas, and more. On Shark Tank India, Morriko appeared with a valuation of INR 33.33 crores and sought an INR 1 crore investment in exchange for 3% equity. Despite counteroffers, the founders declined.

Essential Business Lessons You Learn from Shark Tank India

In this article, we’ll look at the most important lessons any business can learn from Shark Tank, providing a road map for success in today’s fast-paced corporate atmosphere.

StartupTalkyRia Sahni

ExperientialEtc

ExperientialEtc, another successful startup, is a top-notch experiential marketing agency that creates exceptional experiences. Founded in 2017 by Karan Bhardwaj and Prashant Pandey and based in Mumbai, the startup has a net worth of INR 50 crores.

ExperientialEtc leverages 3D holographic displays, projection mappings, life-size kinetic structures, and magical LEDs to enhance communication. The company also utilizes machine language and interactive videos for digital requirements.

The founders asked for 2 crores INR in exchange for 4% equity in the company. Although the sharks were impressed with the idea, they still rejected the deal.

Agri Tourism

Agri Tourism is a unique startup that offers an immersive tourism experience in agriculture. Founded by Pandurang Taware in 2003 and based in Maharashtra, this startup boasts a net worth of INR 40 crores. It connects tourists directly with farmers, creating a mutually beneficial experience.

The startup provides top-notch food and amenities for tourists during their stays in rural villages. With agriculture tourism gaining popularity in India, Agri Tourism is poised for success. Pandurang asked for INR 50 lakhs in exchange for 5% equity. Despite the potential of the business, the sharks declined to invest.

These Agritech Startups are changing the Agriculture Industry

Agriculture is one of the largest industry in India. This list contains all the innovative agritech startups in India which are helping the farmers.

StartupTalkyAshwini

Torch-it

Torch-It is a startup that creates disability assistive devices to foster an inclusive and sustainable ecosystem. In 2016, Hunny Bhagchandani and Mohit Chelani founded the company, which has a valuation of 75 crores INR. The startup's devices use ultrasonic sensors to show the proximity of objects, assisting visually impaired individuals in their navigation. The founders asked for 75 lakhs INR in exchange for 1% equity, but despite investors' inspiration for the idea, the deal was rejected.

Shark Tank India: What is it? Who are the Judges?

The latest season of Shark Tank India, the popular business reality TV series, is now live. Discover the judges and the show’s success.

StartupTalkyDamini Bhandary

Shades of Spring

Shades of Spring is a Bengaluru-based brand specializing in flower gifting, founded in 2018 by Nidhi Gupta and Anju Bhagat. The brand offers farm-fresh flowers for special occasions and through subscription models featuring over 500 varieties produced by Indian farmers. Their offerings include weekly and monthly flower subscriptions, luxury bouquets, hand-tied bouquets, and more.

The founders asked for 3 crores INR in exchange for 1% equity in the company, valuing the brand at 300 crores INR. Despite its success before appearing on the show, the sharks rejected the deal.

Green Protein

Green Protein is a plant-based protein beverage startup founded in 2020 by Madhvi Datwani, Parag Khimani, and Parigna Thorat. The startup, based in India, has a valuation of 30 crores INR and offers plant-based, vegan, cruelty-free, and delicious beverages.

Green Protein offers six fruit flavours and three smoothie flavours with no added sugar that are easy to mix with water without the need for special blenders. The founders asked for 60 lakhs INR for 2% equity, but the deal was rejected despite counter offers from the sharks.

Top 5 Plant-Based Meat Startups In India that are Revolutionizing the way you consume meat

Plant-based meat industry is growing at a fast pace in India. So, Lets look at 5 plant based meat startups that are revolutionizing the way you consume meat

StartupTalkyDamini Bhandary

PDD Falcon

PDD Falcon, a startup based in Mumbai that deals in environmentally friendly stainless steel products, was founded in 2020 by Sneha Visaria and Chirag Visaria. With a valuation of INR 25 crores, the startup offers over 300 made-in-India stainless-steel products, including tiffin boxes, air-tight containers, bottles, straws, and more. The founders asked for 75 lakhs INR for 3% equity, but despite having a good business and great products, the deal was rejected.

Kunafa World

Kunafa World, a startup in the traditional Middle Eastern dessert Kunafa, was founded in 2019 by Jameela Ruhi and Zamzeer Ahmad. Based in Bengaluru, the startup has a valuation of INR 18 crores.

With a delicious combination of semolina dough, sugar-based syrup, and cheese and cream filling, Kunafa World offers more than 15 different varieties of desserts in India. The founders sought 90 lakhs INR for 5% equity, but the sharks declined the deal despite the dessert's appeal.

Theka Coffee

Theka Coffee stands out from most coffee shops by using cold brew rather than espresso in their drinks. To create their unique beverages, they steep finely ground coffee in cool water for around 16 to 36 hours, producing a tastier, less bitter, and more caffeinated brew. On a TV show, Bhupinder Madan, the creator of Theka, requested a 10% equity stake in exchange for a Rs. 50 lakh investment. However, this exposure did not hinder Theka's progress. In fact, Zenith Multi Trade in Dubai provided Rs. 2.5 crore in funding for the brand.

Additionally, industry giants such as Microsoft and Reliance Retail have approached Bhupinder with lucrative proposals to promote and sell Theka Coffee products in their establishments.

Zypp

The startup, based in Gurugram, aims to electrify last-mile deliveries in South Asia by providing units of electric two-wheelers to ride-sharing businesses, e-commerce, food, grocery, and medicine distributors. On a TV show, the founders asked for Rs. 2.2 crore for 1% equity, but they didn't get any investors. However, the company has received funding at major stages and has grown substantially in the past year.

Recently, Northern Arc provided the firm with $10 million in loan financing to help it expand its EV fleet services. The company plans to use debt as a new expansion funnel and deploy 1.5 lakh electric scooters in India by 2025. It is also focusing on expanding its portfolio to increase the production of its scooters to meet the surge in demand.

Recode Studios

Recode Studios, a makeup brand and online marketplace based in Ludhiana, has successfully established a strong presence across India with a network of over 250 physical stores and a thriving online platform accessible through its website and mobile app. In a strategic move made in 2021, the brand diversified its product offerings by incorporating items from other brands into its platform.

Despite achieving a notable net sales figure of ₹15 crore and a net profit of ₹48 lakh for the fiscal year 2022, founders Dheeraj Bansal and Rahul Sachdeva faced rejection on Shark Tank India. The startup, recognized for hosting exclusive offline makeup classes in luxurious five-star properties priced at ₹1,500 per class, did not secure funding for the show. The purported reason for this setback was the perceived direct competition with Sugar Cosmetics, a brand founded by one of the Sharks, Vineeta Singh.

Atmosphere

Led by sisters Ariella Blank and Rebekah Sood, Atmosphere emerged as a standout startup that faced rejection on Shark Tank India but gained prominence with its inventive venture centred on crafting premium-quality Kombucha. Recognized as one of India's leading brands in this specialized market, Atmosphere employs a meticulous fermentation process incorporating green tea, yeast, and bacteria to produce a varied range of flavours, such as the koala, mango peach, exotic lime, and lychee love. Despite delivering an impressive pitch, Anupam Mittal turned down the counteroffer, citing a range of operational and price-related concerns.

Flatheads

Presenting his Bengaluru-based startup, Flatheads, Ganesh Balakrishnan, a co-founder, showcased the company's expertise in crafting sustainable and environmentally friendly casual sneakers tailored for urban dwellers. In his pitch, Balakrishnan sought a 3% equity stake with a valuation of 25 crores, requesting an investment of 75 lakhs. During the pitch, the sharks noted that the startup grappled with challenges, particularly in the crucial domains of the essential marketing 4Ps—product, price, place, and promotion. Founded in 2018 by Ganesh Balakrishnan and Utkarsh Biradar, Flatheads integrates innovative materials such as bamboo or banana yarn to ensure both comfort and cooling in their footwear.

Organic Smokes

Organic Smokes is a smoking company that was founded by the Chhabra brothers: Nitin, Piyush, and Gaurav. Their mission is to provide a healthy, organic alternative to traditional tobacco smoking. They use an ancient Ayurvedic technique to craft herbal cigarettes using exotic ingredients such as Tulsi, Green Tea, Rose Petals, and Spearmint. They have replaced nicotine with caffeine to strategically manage the Placebo Effect. Their products are Ministry of Ayush-approved and patented, providing a guilt-free substitute for smokers while also delivering rejuvenating tastes and various health benefits. Despite their unique offerings and commitment to harm reduction, Organic Smokes faced difficulties in securing a deal on Shark Tank India.

Who is the Richest Shark in Shark Tank India? (Ranked)

Shark Tank India season 3 is set to return with an all-new panel of judges. Take a look at the net worth and charges of all the sharks.

StartupTalkyDamini Bhandary

Magic Of Memories

Magic of Memories, an innovative startup founded by Priti Magoo, specializes in creating jewellery infused with the DNA of individuals, including elements like umbilical cords, breast milk, and even human blood. Priti, a former optometrist, brought this unique concept to the Indian market in 2019, drawing inspiration from a trend popular in Germany and Australia.

Despite establishing a robust online presence through its website and Facebook, the Shark Tank India pitch failed to attract any offers from the investors. Priti was seeking 25 lakhs for a 5% equity stake, but the lack of interest from the sharks resulted in no deal being struck. This is noteworthy, considering the company's strong financial performance, with sales reaching 27 lakhs in the current year.

Coezy Sleep

Coezy Sleep, a standout contender on Shark Tank India Season 2, introduces an innovative sleep solution through stretchable apparel designed to improve sleep quality, employing a cocoon-like approach reminiscent of swaddling a newborn. Established by Hardik Rathore, the startup's relaxers utilize a unique 360-degree compression technique, offering users a soothing and restful sleep experience. Despite its groundbreaking concept, all panellists on the show opted not to invest in Coezy Sleep, expressing reservations about its safety and suitability for the current conditions in India.

Conclusion

The debut of Shark Tank in India was a huge success, with many entrepreneurs securing impressive investment deals from the sharks.

However, some startups failed to secure an investment, either because they were unable to impress the sharks or because they could not reach a mutually agreeable deal. Despite this, startups like Moonshine, Shades of Spring, and others have continued to thrive and be successful in their respective fields even after being rejected for investment.

FAQs

Which are the top startups rejected in Shark Tank India?

Some of the successful startups rejected in Shark Tank India are:

• Moonshine
• Morriko Foods
• ExperientialEtc
• Agri Tourism
• Torch-it
• Shades of Spring
• Green Protein
• PDD Falcon
• Kunafa World
• Urban Monkey

How many Startups were chosen for the pitch in Shark Tank India Season 2?

166 registered startups were chosen to pitch their business in Shark Tank India.

How many startups got deals in Shark Tank India?

In season 2, 115 of 166 companies secured deal commitments.

Which is the biggest deal in Shark Tank India?

Some of the biggest deals in Shark Tank India are:

• AAS Vidyalaya - INR 1.5 Crore
• Annie by Tinkerbell Labs - INR 1.05 Crores
• Skippi Icepops - INR 1 Crore
• Sunfox Technologies - INR 1 Crore
• Get-A-Whey - INR 1 Crore
• The Yarn Bazaar - INR 1 Crore
• Hammer Lifestyle - INR 1 Crore
• IN A CAN - INR 1 Crore

Which are the most successful Shark Tank India products that didn't get a deal?

The most successful Shark Tank India products that didn't get a deal are:

• Moonshine
• Qzense Labs
• Auric
• Binks Pets
• Arata Academy

Which are Shark Tank India companies that failed?

Some of the Shark Tank India companies that failed are:

• ToyGaroo
• The Grub Club
• Keto India
• Committed and Ghosted