Shark Tank India S4: Aman Gupta clashes with Anupam Mittal over Airth declares, ‘I can’t fight for 0.5%, or else I’m out’
In a gripping episode of Shark Tank India Season 4, tensions ran high as entrepreneurs Ravi Kaushik and Abhimanyu Kumar pitched their innovative air purifier technology, Airth, to the panel of Sharks. According to the company, the device is designed to transform ordinary air conditioning units into air purifiers.The founders, with Kaushik’s background in aerosol engineering and personal motivation stemming from his mother’s battle with asthma, sought Rs 60 lakhs for a 1% equity stake in their company.
The pitch highlighted the alarming air quality issues in India and the potential of Airth to mitigate these problems. The device’s ability to integrate with existing air conditioning systems and its affordable pricing impressed many of the Sharks. Vineeta Singh appreciated the product’s practicality, while Anupam Mittal quickly made an aggressive offer of Rs 1 crore for a 5% equity stake. Mittal also expressed interest in becoming more involved with the business, even suggesting he could act as a co-founder. Not to mention the interests shown by other sharks as well, with both Vineeta and Aman Gupta countering with similar offers of Rs 60 lakhs for 2% equity each. However, not all the panel members were convinced. Varun Dua and Peyush Bansal opted out, citing concerns about the long-term scalability and viability of the product. Despite stepping back from the deal, Dua commended the founders for their honesty and their clear articulation of the product’s potential.
The negotiations intensified when the founders made a counteroffer of Rs 96 lakhs for 3% equity, asking for participation from all three interested Sharks. Mittal, unwilling to compromise, pushed for an even higher valuation, offering Rs 2 crores for 5% equity.
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