The latest episode of Shark Tank India 2 saw Peyush Bansal CEO of Lenskart and Anupam Mittal Founder and CEO of People Group get into a war of words.
It started with Vineet Saraiwala, founder of Atypical Advantage, pitching his start-up to the sharks. His platform provides several kinds of jobs for people with physical disabilities. His request was Rs 30 lakh for one per cent equity at a valuation of Rs 30 crore.
Bansal, who has extensive experience in the eyewear industry, has rolled out an offer of 1 crore investment for 12 per cent equity at a valuation of Rs 8.33 crore. He clarified that he wants to do the deal alone because having many people on the captable will cause confusion.
This miffed Mittal who had rolled out a similar offer with Namita Thapar Executive Director, Emcure Pharmaceuticals Inko koi alag type ki deal karni hai for some other reason. He wants to do some different type of deal for some other reasons, but Bansal confronted Mittal and asked him why he was making such accusations. Mittal said that Bansal has done several deals with the other sharks, so he is unable to understand his problem for coming on board for this deal.
Anupam backs out of the deal saying, Inka kya agenda hai, yeh hi jaane What his agenda is, he only knows that he doesn't want to invest in a deal where someone else wants to drive the agenda. Bansal backed out soon after.
In the end, Saraiwala took Thapar's and Aman Gupta's Co-founder and CMO of boAt deal of 30 lakh investment for 3 per cent equity at a valuation of Rs 10 crore.
Thapar will be seen walking out of the show in another episode. It is related to nutrition brands, Nestroots, and sharks, and they are at loggerheads to invest in it. When walking out, Thapar can be seen saying, "Not okay, you need to keep your ego in check, because you're not able to arrive at a common consensus."