In a world buzzing with the dreams of young innovators, startups have become the heartbeat of ambition. The charm of crafting something from scratch, birthing an idea into reality, is a journey many spirited individuals embark upon.
Today’s landscape is dotted with the stories of those who dared to dream, who chose the path less traveled – the path of creating, building, and, sometimes, facing rejection.
Imagine this: a brilliant idea, a young entrepreneur, and the chance to pitch it all in the glorious Shark Tank. The stage is set for dreams to take flight or, in some cases, face a grounding reality check.
Let’s look at the startups that got rejected in Shark Tank India Season 1 and 2 and instead, carved their path to success. These unsung heroes turned rejection into motivation and setbacks into stepping stones.
About Shark Tank
Shark Tank- Where Dreams Meet Deals!
In a world where business ideas take center stage, there’s a place where the entrepreneurial spirit truly gets its time in the spotlight – “Shark Tank.” If you’re not already hooked on this show, imagine a blend of pitches, passion, and the pursuit of turning dreams into dollars. It’s the ultimate entrepreneurial rollercoaster!
“Shark Tank” is not your typical reality show. It’s a platform where aspiring entrepreneurs pitch their groundbreaking ideas to a panel of savvy investors (or “Sharks”) in the hopes of scoring a sweet deal.
Meet the Shark Tank India Judges
These include:
Anupam Mittal: The man behind the success of Shaadi.com, Anupam brings tech-savvy brilliance to the tank.
Namita Thapar: An entrepreneur herself, CEO of Emcure Pharmaceuticals adds a touch of dynamism and a keen eye for innovation.
Vineeta Singh: The co-founder of SUGAR Cosmetics, Vineeta injects a dose of the beauty and business combo into the tank.
Aman Gupta: The co-founder of Boat Lifestyle, Aman brings the pulse of the youth and a flair for disruptive ideas.
Ashneer Grover: Previously MD and Co-Founder at Bharat Pe. He is known for his charismatic leadership.
Peyush Bansal: Founder and CEO of Lenskart utilizes his innovative mind in the show.
Startups That Got Rejected In Shark Tank India
Now, let’s dive into the startups that got rejected in Shark Tank India, and instead, carved their path to success.
Startups That Got Rejected In Shark Tank India
The inaugural season of Shark Tank India wasn’t just a show, it was a battlefield of dreams, ambitions, and jaw-dropping deals. As the curtains lifted, a staggering 62,000 aspiring business owners stepped into the spotlight. Out of the sea of aspirations, 198 entrepreneurs were handpicked and moved to the next stage.
Some startups were able to crack the deal, and some were not able to, but still, they did not lose hope and came out with their best version.
The startups that got rejected in Shark Tank India( SEASON 1) are:
1. Urban Monkey
Founded: 2013
Valuation: INR 100 Crores
Established in 2013 in the bustling city of Mumbai, this streetwear fashion brand, founded by Yash Gangwal, has been making waves. With a current valuation standing at a robust INR 100 Crores, this startup has its sights set on the vibrant youth of India. Specializing in an array of trendy products, from hats and sunglasses to belts, backpacks, and clothing, the brand boasts a fanbase that includes celebrities like Rannvijay Singha and Raftaar.
Despite its thriving success, Yash took a bold leap onto the Shark Tank stage, seeking a Rs 100 crore investment for a mere 1% equity. However, in a surprising twist, the sharks declined the offer, leaving this already flourishing brand to chart its course forward.
2. Agri Tourism
Founded: 2003
Valuation: INR 40 Crores
This was one of the astonishing startups that got rejected in Shark Tank India. Founded in 2003 by Pandurang Taware and rooted in Maharashtra, this unique startup offers an immersive tourism experience within agriculture. With a noteworthy net worth of INR 40 Crores, Taware’s brainchild directly connects tourists with farmers, creating a symbiotic relationship that enhances the experience for both parties. The startup goes the extra mile by taking care of tourists’ food and amenities during their village stays, creating a seamless blend of agri-exploration and hospitality.
As the agritourism market gains traction in India, this startup stands as a testament to its success. Seeking a 5% equity capital, Pandurang Taware entered the Shark Tank fray, requesting an investment of 50 lakhs INR. Despite the promising venture, the Sharks chose to swim against the tide, turning down the opportunity.
3. Torch-It
Founded: 2016
Valuation: INR 75 Crores
Established in 2016 by Hunny Bhagchandani and Mohit Chelani, this impactful startup is on a mission to foster inclusive growth by developing tools tailored for individuals with disabilities. Boasting a valuation of Rs 75 Crore INR, their innovative devices utilize ultrasonic sensors to provide real-time proximity feedback, aiding visually impaired individuals in navigating their surroundings effortlessly.
Seeking a 1% equity stake for a claim of INR 75 lakhs, the startup entered the Shark Tank with an idea that resonated with the investors. Despite the evident potential and positive reception, the Sharks chose not to dive into this transformative venture, leaving the startup without the sought-after investment.
4. Green Protein
Founded: 2020
Valuation: INR 30 Crores
Launched in 2020, this innovative startup in the world of beverages is making waves with its plant-based protein drink. Founded by Madhvi Datwani, Parag Khimani, and Parigna Thorat, the startup boasts a valuation of INR 30 Crore. Specializing in vegan, cruelty-free, and irresistibly delicious plant-based products, available in a variety of six fruit flavors and three shake variants, this startup has carved its niche.
What sets them apart is not just the flavors but the simplicity – no added sugar and no need for fancy blenders, their products effortlessly mix with water. Seeking a 2% equity stake for an investment of 60 lakhs INR, the founders entered the Shark Tank with hopes high. While the Sharks tossed around counteroffers, the final decision was to swim away from the deal, leaving this plant-powered venture without a Shark partner.
5. Kunafa World
Founded: 2019
Valuation: 18 Crores
Founded in 2019 by Jameela Ruhi and Zamzeer Ahmad. Hailing from Bengaluru, this startup focuses on the traditional Middle Eastern delight, Kunafa, and boasts a tempting valuation of INR 18 Crores. With a delectable blend of semolina dough, sugar-based syrup, and a heavenly cheese and cream filling, Kunafa World tantalizes taste buds with over 15 different varieties of desserts in India.
The founders, eager to sweeten the deal, sought 90 lakhs INR for a 5% equity share. Despite the undeniable allure of their dessert empire, the Sharks, in a surprising twist, chose not to indulge, leaving Kunafa World without the desired investment.
6. Morriko Foods
Founded: 2017
Valuation: INR 33.33 Crores
Morriko Pure Foods, formerly known as Kamdhenu Foods is one of the innovative startups that got rejected in Shark Tank India and was founded in 2017, stands as a beacon in the world of healthy snacking. Originating from Gujarat and spearheaded by founder Bipin Shah, Morriko underwent a transformative journey in 2017 with the inclusion of co-founders Tanmay Shah and Kalyani Shah. Specializing in solar-dehydrated fruit and vegetable powders, the startup champions the cause of promoting nutritious and wholesome snacking.
Their product lineup boasts an array of offerings, from mango and guava chunks to drumstick powder and herbal teas. In their appearance on Shark Tank India, Morriko presented a compelling valuation of INR 33.33 Crores, seeking a 1 crore INR investment for a 3% equity share. Despite receiving counteroffers, the founders opted to steer their course, declining the deals presented in the tank.
The Startups that got rejected in Shark Tank India ( SEASON 2) are:
1. Recode Studio
Founded: 2018
Valuation: INR 100 Crores
Recode Studios, a Ludhiana-based makeup brand and online marketplace, has established a robust pan-Indian presence with over 250 shops and a thriving online platform via its website and mobile app. In a strategic move in 2021, the brand expanded its offerings by incorporating products from other brands onto its platform.
Despite a net sales figure of ₹15 crore and a net profit of ₹48 lakh for the fiscal year 2022, founders Dheeraj Bansal and Rahul Sachdeva faced a Shark Tank India rejection. The startup, known for organizing exclusive offline makeup classes in five-star properties, priced at ₹1,500 per class, didn’t secure funding on the show. The alleged reason is its direct competition with Sugar Cosmetics, founded by one of the sharks, Vineeta Singh.
Startups That Got Rejected In Shark Tank India
2. Atmosphere
Founded: 2018
Valuation: INR 25 Crores
Atmosphere, spearheaded by sisters Ariella Blank and Rebekah Sood, is one the promising startups that got rejected in Shark Tank India and took center stage with their innovative venture focusing on producing high-quality Kombucha. Positioned as one of India’s pioneering brands in this niche, Atmosphere utilizes a meticulous fermentation process involving green tea, yeast, and bacteria to craft a diverse range of flavors, including koala, mango peach, exotic lime, and lychee love.
Despite the impressive pitch, Anupam Mittal declined the counteroffer, citing various operational and price-related concerns.
3. Flatheads
Founded: 2018
Valuation: INR 25 Crores
Ganesh Balakrishnan, co-founder of Flatheads, presented his Bengaluru-based startup that specializes in crafting sustainable and environmentally friendly casual sneakers tailored for the urban population. Seeking a 3% equity stake at a valuation of 25 crores for an investment of 75 lakhs, Balakrishnan’s pitch highlighted the comfort and lightweight design of Flatheads shoes. However, concerns were raised by Aman regarding the style aspect.
The sharks observed that the startup was grappling with challenges, specifically in the realms of the essential marketing 4Ps—product, price, place, and promotion. Founded in 2018 by Ganesh Balakrishnan and Utkarsh Biradar, Flatheads incorporates innovative materials like bamboo or banana yarn to ensure both comfort and cooling in their footwear.
Startups That Got Rejected In Shark Tank India
4. Organic Smokes
Founded: 2015
Valuation: INR 100 Crores
Organic Smokes, founded by real brothers Nitin Chhabra, Piyush Chhabra, and Gaurav Chhabra, endeavors to revolutionize the smoking industry by offering an organic alternative to traditional tobacco smoking. Driven by the mission to eliminate the health hazards associated with smoking, they employ an age-old Ayurvedic technique to craft herbal cigarettes using exotic ingredients like Tulsi, Green Tea, Rose Petals, Spearmint, and more.
Notably, they’ve replaced nicotine with caffeine, strategically managing the Placebo Effect. These patented and Ministry of Ayush-approved products not only provide a guilt-free substitute for smokers but also boast rejuvenating tastes and various health benefits. Despite their unique offerings and commitment to harm reduction, Organic Smokes faced challenges in securing a deal on Shark Tank India.
Startups That Got Rejected In Shark Tank India
5. Magic Of Memories
Founded: 2019
Valuation: INR 25 Lakhs
Founded by Priti Magoo, Magic of Memories is one the innovative startups that got rejected in Shark Tank India specializing in crafting jewelry infused with the DNA of individuals, ranging from umbilical cords to breast milk and even human blood. Priti Magoo, a former optometrist, embarked on this unique journey in 2019, inspired by a concept popular in Germany and Australia, and introduced it to the Indian market.
Despite the innovative concept and a solid online presence through its website and Facebook, the pitch on Shark Tank India, where Priti sought 25 lakhs for 5% equity, did not attract any offers from the sharks. The company’s financial performance showcased substantial growth, with sales reaching 27 lakhs in the current year, yet the lack of investor interest resulted in no deal being finalized.
Startups That Got Rejected In Shark Tank India
6. Coezy Sleep
Founded: 2021
Valuation: INR 30 Lakhs
Cozy Sleep, a standout participant in Shark Tank India Season 2, introduces a unique sleep solution in the form of stretchable apparel designed to enhance sleep quality using a cocoon-like approach, akin to swaddling a newborn. Founded by Hardik Rathore, the startup’s relaxers employ a distinctive 360-degree compression technique, promising users a restful and comforting sleep experience.
However, despite its novel concept, all judges on the show declined to fund Coezy Sleep, citing concerns of it being deemed ‘unsafe,’ and ‘unfit for India’ at the present moment.
STARTUPS THAT GOT REJECTED IN SHARK TANK INDIA ( SEASON 1)
STARTUPS THAT GOT REJECTED IN SHARK TANK INDIA (SEASON 2)
Urban Monkey
Recode Studio
Agri Tourism
Atmosphere
Torch- It
Flatheads
Green Protein
Organic Smokes
Kunafa World
Magic Of Memories
Morriko Foods
Coezy Sleep
Final Words
The journey of the Top Startups that got rejected in Shark Tank India exemplifies the resilience, creativity, and consistent spirit of visionary founders. Each rejection catalyzes growth, prompting these startups to chart their courses, secure alternative funding, and flourish independently. The Shark Tank stage may not have been the final destination, but for these resilient entrepreneurs, it was a pivotal chapter in their stories of innovation and determination.
Which startup did you like the most? Mention in the comments below!
FAQs
How many people apply for Shark Tank India?
In a mere two seasons, the show has witnessed an overwhelming surge of interest, with over 200,000 startups vying for the coveted opportunity to pitch their ideas. Remarkably, more than 320 startups have taken center stage to present their innovative ventures to the experienced panel of sharks.
Do the Sharks invest?
It is crucial to emphasize that although the sharks receive compensation for their roles on the show, the financial investments they make in the entrepreneurs’ companies, should they opt to do so, originate entirely from their funds.
What are the most successful Shark Tank India businesses?
Many startups got rejected in Shark Tank India but some cracked the biggest deals the most successful businesses in Shark Tank are as follows:
