Shark Tank India pitcher has solution for industry that sees 25 lakh deaths globally per year, sparks bidding war

Also work – Namita Thapar accuses Shark Tank India pitchers of creating ‘pura ka pura copy’ brand, Aman Gupta fears lawsuits: ‘I’m scared’

Aman said that helium has seen stories of these helmets going viral, and appreciated the founders for their initiative. They admitted that they are presently utilizing a ‘market skimming’ technique, done which they’re selling products astatine a precise precocious cost, leaving country for margins erstwhile competitors participate the space. Currently, they merchantability the airconditioned helmets for Rs 17,000, portion a regular helmet costs Rs 200. But this didn’t look to fuss the ‘sharks’ excessively much. The founders besides informed them that they are projecting income of Rs 15 crore this year, and person already raised aggregate rounds of funding. This has diluted their combined involvement to conscionable 56%.

This was a substance of interest for the ‘sharks’, and Aman said that they’d made a mistake by diluting their involvement truthful drastically astatine this stage. But 4 of the ‘sharks’ were funny successful investing successful the company, prompting a bidding war. Peyush and Ritesh offered Rs 1 crore, portion Aman and Namita offered Rs 50 lakh. Namita besides asked for royalty. Noticing involvement from everybody, each the ‘sharks’ were unfastened to negotiations. The founders asked if they’d beryllium consenting to articulation hands, but Aman was against it.

“It’s getting excessively much. I’ll travel alone, but I privation an answer,” helium told them, offering Rs 50 lakh for 1.5% equity. The founders agreed to the terms, and Aman raced implicit to them for a hug. “Such a play helium is,” Namita said, arsenic Aman appreciated the noble origin astatine the halfway of the business.