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Shark Tank India 3: Snacking brand pitcher irks Anupam Mittal; tells them, ‘Jhooth bolna band karo’
The latest episode of Shark Tank India 3 witnessed a pitch which initially gained interest from sharks but later went downhill. At the end, the pitcher received significant advice from Anupam Mittal.
The third season of Shark Tank India is bringing a diverse range of innovative pitches from entrepreneurs. Till now, viewers have witnessed a lot of exciting and intelligent business models from aspiring founders. The recent episode of the show featured Pathik Patel, a snacking and cereals brand owner who claims making oat-based breakfast cereals with lowest added sugar and other snacking products. The pitch intrigued sharks but later made them skeptical about its health claims.
Anupam Mittal gives important advice to pitcher
In the latest episode of Shark Tank India 3, the founder of Fit and Flex, Pathik Patel introduced his business model to the sharks. He asserts that his products have low-sugar. The machines which Pathik uses have the USP of crunch lasting till the last bite. He shares that he is a marathon runner and reveals that he also runs a cotton factory business which is worth Rs 700-800 crores. His ask is for Rs 1 crore in return for 3 % equity.
After knowing that Pathik already has a running business, Aman Gupta and Vineeta Singh ask him why he wants investment. The pitcher tells them that all he wants is mentorship. Anupam Mittal then inquires about the worth of machines. Pathik says that each line is about Rs 15 crore and they are the only brand to bake their own muesli. 
Shedding light on his sales, the pitcher shares that his latest revenue is around Rs 4.6 crore and he has a target of reaching Rs 8 crore. He also disclosed the burn and said that it is 7-8% profitable. After knowing about unit economics, bootstrapped business debts, and Pathik handling three businesses, Aman and Vineeta back out of the deal.
Take a look at the teaser of Shark Tank India 3:
Anupam then questions if Pathik’s brand is even healthy. Deepinder Goyal interrupts and states that it is not. The pitcher in his defense says, “100% healthy nahi bikta hai, aaj kal logon ko sugar chahiye, fried chahiye sab kuch chahiye.” Deepinder asks him to sell sugar but atleast don’t tag it as healthy. Anupam and Deepinder also withdraw from the deal.
Namita Thapar goes on to give an offer to Pathik. She gets ready to invest Rs 25 lakh for 2.5 per cent equity and the rest Rs 87 lakh as debt. The pitcher finds the offer risky and asks her to remove the debt. Vineeta refuses and backs out of the deal as well.
After all the investors pull out of pitch, Anupam Mittal shares a suggestion and tells Pathik, “All five sharks are out. My only advice to you is that health ke mamle mein jhoot bolna bandh karo (Stop lying in matters of health).”
About Shark Tank India 3
The judging panel of Shark Tank India 3 includes Aman Gupta, Amit Jain, Anupam Mittal, Azhar Iqubal, Deepinder Goyal, Namita Thapar, Peyush Bansal, Radhika Gupta, Ritesh Agarwal, Ronnie Screwvala, Varun Dua, and Vineeta Singh. It streams on the SonyLIV app.
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