Being on Shark Tank India and pitching your business to sharks is a big deal itself but some businesses have gone far and above. With their pitches and start-up ideas so good that they managed to impress not only one but all five sharks. Yes, you heard it right there are a couple of businesses on Shark Tank India season 3 who have managed to get an offer from all five sharks.
Jewelbox and Nasher Miles are the two companies that managed to secure a huge investment from all five sharks.
ALL You Need To Know About Jewelbox
Vidita and Nipun Kochar, founders of Jewelbox, managed to impress the sharks on Shark Tank season 3 with their concept of using lab-grown diamonds for exquisite jewelry. Jewelbox is a Kolkata-based jewelry brand launched in 2022. These lab-grown diamonds are physically, chemically, and optically indistinguishable from their natural counterparts.
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These diamonds offer a more sustainable ethical and affordable alternative to traditional mined diamonds. Jewelbox managed to impress all the sharks with the concept, business, and revenue statistics
Initially, the founders proposed a deal: 1 crore for 2% equity. Aman countered with 1 crore for 5% equity + 2% royalty until 1 crore is recouped. Radhika joined Aman’s offer, maintaining the same terms. Vinita offered the initial one crore for 2% equity. Ritesh joined Vineeta’s offer, proposing 1 crore for 2.5% equity. Peyush joined Ritesh and Vineeta’s offer, resulting in a collective offer of one crore for 2.25% equity.
After negotiations, all the sharks agreed to invest 2 crores for 6% equity. And the first five-shark deal of the season was made.
All You Need To Know About Nasher Miles
Nasher Miles is a Mumbai-based company that managed to impress the sharks with their innovative luggage brand. It was founded in August 2017 and since then it has always been profitable with expected revenue of 100 crores in the latest year. Sharks were impressed by both the product, the branding as well as the sales and revenue statistics.
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Nasher Miles’ founder’s initial ask was 3 crores for 0.75% equity. On this initially, Aman had a separate offer then all the other four sharks but after the founders respectfully rejected Aman’s offer.
All five sharks offered a final combined offer which was 3 crores for 1.5% equity and one person priority until the 3 crores are recouped. After a heated negotiation session, this deal was final, becoming the second five-shark deal of the season.
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