The Shark Tales Episode 4: High on Energy, Jewels and Decor

The Shark Tales Episode 4: High on Energy, Jewels and Decor

Shark Tank India has struck a chord with the Indian population, who now see entrepreneurship as a viable career path. The third season is continuing the show’s remarkable legacy of catalyzing India’s startup ecosystem. The diverse mix of participants seen on the show till now has showcased the growing entrepreneurial will in the country breaking away from the geographical constraint.

Returning as a shark for the second time on Shark Tank India, Amit continues to contribute and impart his valuable experience to the upcoming entrepreneurs. In line with his motto of “Pehle Banda, Phir Dhandha”, Amit is seen placing his bets on inspiring founders rather than just attractive business models. This was evident in his recent investments in The Honest Home Company and Tiggle, where he saw the grit and growth-focused mindset of entrepreneurs.

In Episode 17 of Season 3, Amit opted not to invest in any of the three pitches presented. However, he shared his detailed feedback highlighting his investor approach – balancing founder appreciation with business model critique. His suggestions emphasized brand-building, customer-centricity and sustainable unit economics as crucial for scaling brands. Though the deals didn’t materialize, Amit wished the best to the spirited founders behind VOLD Energy Drink, Quirksmith and Urban Space.

Read about Amit Jain’s learnings from the latest episode in the three pitches below:

Vold Energy Drink:

Devesh Bochre from Nighoj walked into the tank with a passion to disrupt the energy drink market with his VOLD Energy Drink. He aimed to provide energy to one and all with sips that are both affordable and tasty. Although I feel such drinks are not good for health, especially for children. His fighter spirit to build a brand with limited resources was admirable, just like his jugaadu approach to marketing. Though I felt the approach wasn’t very scaleable for building a long-term brand but a good hack to start with. I try to find uniqueness in either product(10x better) or in some area which can act as a moat to build a long-term business. I could find the energy and passion but not that. This will require careful business build-up with efficient planning of brand building, working capital management and distribution. All areas will need deeper attention and skill sets for this to scale. I do applaud Devesh’s high-energy spirit, but I couldn’t overlook these gaps in the business model and thus I was out. I’m glad Aman closed the deal. All the very best to him and VOLD!

Quirksmith :

Divya Batra Das and Pragya Batra’s journey with Quirksmith is the entrepreneurial proof of their passion for jewellery and storytelling. This was visible in their pitch as well. I loved their way of making jewellery a conversation starter, and the attention to detail they put in the brand and just not the business. I felt that the brand still has a long way to go as the direct traffic wasn’t a very large proportion of overall traffic. As the brand builds up a large portion will come as direct sales. I loved the resilience and persistence of the founders, in a covid struck journey. I felt their talent could be used in doing even larger things. So I took a bet on the talent(Pehle Banda Fir Dhanda) and future that can unfold and made my offer. I could not justify the valuation finally, and hence, I was out. But I wish the amazing founder sisters all the very best!

Urban Space:

Coming from a textile background in the family, Rohit Agarwal and Radhika Koolwal created and pitched Urban Space with a vision to redefine home furnishing with quality and affordability. Their focus on profitability and impressive sales figures through 1200+ SKUs showcased strong unit economics and customer satisfaction in an era where such products are beyond functional – they are aspirational now. They ticked all the traits I look for in founders and business. I had my input on their valuation and growth roadmap. As an investor, I consider it my duty to give them a realistic, fair valuation, even if others have different thoughts, or even if the deal doesn’t get closed. Wish them all success nonetheless.

Episode 4 highlighted the importance of great brand-building, along with short and long-term strategic planning. Stay tuned for more Shark Tales!