In an unexpected twist on Shark Tank India, ‘Orbo AI’s founders introduced their ‘Beauty GPT’ concept, grabbing investors’ interest. However, it was Peyush Bansal whose unforeseen offer took center stage, turning it into a memorable episode. The spotlight shifted as Bansal’s move injected a surprising element, leaving viewers intrigued and engaged. This unique blend of innovation and bold offers showcased the unpredictable dynamics of the show.
The “Magic Mirror” Concept
Orbo AI introduced a unique “magic mirror,” akin to those on popular platforms like Nykaa or Lenskart, allowing users to virtually try products. Seeking Rs 1 crore for a 0.75% ownership at a valuation of Rs 133.33 crore, the startup’s pitch intrigued Vineeta Singh, although she had reservations about the business model.
Peyush Bansal Offers Rs 15 Crore To Orbo AI
Investor Peyush Bansal surprised everyone by expressing interest in acquiring the entire company. Despite the founders’ initial ask, Bansal, known for strategic decisions, offered to purchase a 51% majority stake for Rs 15 crore, raising eyebrows and prompting a lively discussion among the sharks.
Anupam Mittal Acknowledges Fundraising Skills
As the founders revealed having raised Rs 26 crore, Anupam Mittal acknowledged their fundraising prowess. However, the majority of sharks seemed uninterested in the current financial situation. Vineeta Singh made a conditional offer, awaiting the term sheet for Rs 3 million, proposing Rs 1 crore for 1% ownership.
Peyush’s Unconventional Deal Rejected
When Vineeta made her offer, Peyush Bansal escalated the stakes, proposing to buy a 51% majority stake for Rs 15 crore. Aman found this offer peculiar, emphasizing the complexity of selling a company within minutes. After negotiations, the founders rejected Peyush’s offer of Rs 35 crore for 51%, ultimately accepting Vineeta’s proposal.
Orbo AI focuses on AI-driven solutions to enhance conversions, stickiness, and loyalty for beauty brands. Their Beauty AI automation stack empowers brands and retailers to add a visual experience and personalization layer, providing personalized product recommendations and a seamless omnichannel experience for users.
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