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Shark Tank India 3: Namita Thapar and Amit Jain slam each other; Latter says, ‘Apni expertise pe rukiye na’
In the latest episode of Shark Tank India 3, Sharks Namita Thapar and Amit Jain clash with each other over a deal. The pitchers request them to come together, but they decide to go solo.
In the latest episode of Shark Tank India 3, pitchers who run a platform that aims to manage chronic pain shared their business idea with the Sharks. They fail to impress all the sharks except Amit Jain and Namita Thapar, who see their market potential and decide to offer them a deal. The pitchers ask them to get on board together, but the Sharks refuse. Read on to know whose offers the pitchers went with.
Pitchers introduce their business
The pitchers, Amit Bhayani and Manjeet Singh, introduce their business and share that their application helps the user understand their pain through physiotherapy, yoga, and AI. The user has to undergo an assessment on camera, after which they receive a report with the consultation of physiotherapists and yoga therapists. Along with this, they also get a customized plan. They asked for Rs 1 crore for 2% equity.
Check out the promo of the episode here:
The pitchers give a demo of their app, and Shark Vineeta Singh participates in the assessment. The result of the shark gets showcased as 45/100, which shocks her. She says, “Mera lifetime mein 90 se niche kabhi nahi aaya hai.”
One of the pitchers clarified that they skipped other exercises, which is why the score is low. Amit then asked how the application helps with body pain and to determine whether it is just inflexibility. Sharks Namita Thapar and Amit Jain understand their business model.
Aman Gupta was unsure about their customer acquisitions, and Anupam Mittal questioned them about their growth. The pitchers reveal they were former co-founders of Unicorns, which has been generating more than Rs 100 cr and growing. To this, Aman says, “Aap yahan aajao, wahan kyun khade ho.”
Sharks offer deal
After further questioning, Namita Thapar is the first to offer a deal. She offers Rs 50 lakhs for 2.5% equity and Rs 50 lakhs as debt at 10% interest for 2 years. Anupam, Aman, and Vineeta back out.
Namita says she disagrees with other sharks. “Inko market samajh mein hi nahi aaya hai. Jaise ek mahapursh ne kaha hai iss market ki main hi gundi hu. (They haven’t understood the market. Like a wise man said, I am the goon of this market.)” As she continues speaking, Amit says, "Namita, don't rush; I am still talking.”
Amit says that the pitcher’s company seems more focused on technology than pharma. Namita hits back at Amit, saying, “Wrong, they are already from a tech background; they need to create awareness, and that only I can give.”
Amit gives an offer of Rs 50 lakhs for 1% equity and Rs 50 lakhs in debt at 12% interest for 2 years. Namita revises her offer, and Amit taunts her, “Aree Namita aap toh apni expertise pe rukiye na. (You stop at your expertise.)” Namita then changes the equity to 1.5%.
The Sharks discuss among themselves who the pitchers will choose. Namita sounds confident, but Aman says that they might go with Amit.
After the pitchers return from discussing the offers, they request the two Sharks come together, but they refuse. Namita makes a final solo offer with 1.32% equity. Amit matches the offer, but the pitchers choose Namita, and they sign the deal.
Shark Tank India 3 streams from Monday to Friday at 10 PM on Sony LIV.
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