Anupam Mittal slammed a butterfly pea tea brand company that claimed they were the first to market the tea in the Shark Tank India Season 2 show airing on February 6. Anupam urged them not to lie as he had seen comparable brands in the US. Shark Tank 2, which debuted on January 2, features entrepreneurs presenting their brands to a few influential investors known as Sharks. The Sharks are Aman Gupta, Vineeta Singh, Namita Thapar, Peyush Bansal, and Anupam Mittal. TheÂ episode comprisedÂ three pitches.
During the opening pitch, Kishor Jairamko and Ashutosh Roy unveiled their streetwear clothes fashion brand.Â They asserted that they do not produce plus-size clothing but specialise inÂ oversizedÂ clothing. They requested Rs. 50 lakh for 5% equity. Anupam, Namita, Amit, and Aman opted not to invest after hearing the pitch because they believed it was too unclear. Vineeta sought to join the project with Rs 30 lakh for 20% equity and Rs 20 lakh in debt at 12% interest. Kishor and Ashutosh declined the offer.
The nextÂ pitch was made by Delhi-based Ankit Agarwal, whose business offers university placements to graduates who have yetÂ to find employment. The Sharks were taken aback by his pitch. Ankit requested Rs 1 crore for 1% equity. While Vineeta backed out, all the Sharks battled it out for the brand. In the end, Ankit accepted a joint offer from Aman, Namita, Anupam, and Amit of Rs 2 crore for 4% equity.
Followed by this were Nitesh Singh and Sunil Sahaâs herbal tea pitch claiming to be the first to market blue colour tea. They requested Rs. 75 lakhsÂ for a 1% stake with a valuation of Rs. 75 crores. Anupam lambasted the entrepreneurs for claiming that their blue tea wasÂ the first brand in the world after the pitch was over.
He said he has travelled to the USA, and the people there have been drinking this tea for a long time. He asked the entrepreneurs to share accurate information rather than false information kindly.
Amit Jain (Co-Founder-CEO of CarDekho Group and InsuranceDekho.com replaced Ashneer Grover in the show.