To persuade investors to invest money in their firm in exchange for a part of the business. Startup entrepreneurs come to Shark Tank to present their concepts and business plans to an investor panel. This is the Indian adaptation of the popular American reality TV program “Shark Tank.”
Though many startups pitch on this show, not all of them will necessarily receive a deal. There are several possible explanations for this. The fact that business may not be viable in the eyes of the sharks, the founders may not always be able to convince judges of their startup and long-term goals, or any combination of these. We’ll talk about five firms in this article that were turned down by sharks yet came out to be successful.
Theka Coffee
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Theka Coffee debuted in Shark Tank India’s debut season in 2017. Nevertheless, the show did not provide him with any funding. However, the business later attracted outside investment and was valued at Rs 120 crore.
Popular Indian coffee company Theka Coffee is well-known for its distinctive strategy, which offers premium coffee that is freshly brewed at a reasonable cost. The company sells a variety of coffee drinks, including traditional selections and creative concoctions catered to regional preferences. Theka Coffee’s business strategy is centered on accessibility and mobility, catering to a diverse audience that includes office workers, college students, and casual coffee drinkers.
Urban Monkey
Now a Rs 100 crore startup, streetwear firm Urban Monkey was also turned down by Shark Tank India. What began in 2013 as a straightforward initiative to raise awareness of Mumbai’s skate culture has since developed into a deeply held passion for fostering community growth. Like the community they represent, Urban Monkey is unconventional in their approach, quirky in style, and resolute in its methods. Making an effort to maintain their work’s originality, intelligence, and space for magic.
Torch-it
Although the startup Torch-it deal never happened at Shark Tank India, the company is currently valued at Rs 75 crore. Torchit aims to enable people with disabilities worldwide to live simpler, more purposeful, and more connected lives by providing simple, economical, and useful assistive technology. Its goal is to establish a sustainable ecosystem that promotes inclusive progress for people with disabilities. They do it by making assistive mobility and accessibility, financial stability, and literacy possible.
Qzense Labs
Presently, Qzense Labs, a startup valued at Rs 400 crore, was also turned down by Sharks. Technology startup Qzense Labs is dedicated to creating cutting-edge solutions for the agriculture industry. The business uses developments in artificial intelligence, data analytics, and sensor technology to solve problems with post-harvest handling and fruit and vegetable quality evaluation. Their goods and services are made to assist growers, merchants, and other supply chain participants in keeping an eye on and maintaining the quality of their food, cutting down on waste, and increasing overall productivity.
Moonshine
The firm, which was previously turned down for funding on the Shark Tank India platform, is currently valued at Rs 160 crore. Regarding “Shark Tank India,” “Moonshine” is a reference to the first and biggest meadery in India, Moonshine Meadery. The fermentation of honey with water, and occasionally adding fruits, spices, grains, or hops, results in mead, an alcoholic beverage. To raise money to increase their production and distribution, the company’s founders, Rohan Rehani, and Nitin Vishwas, presented their idea to the sharks. Their assortment of products also includes different mead tastes that are well-liked in the Indian market.
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