collection · 42 pitches
Shark Tank India case studies: the deals, valuations and lessons
By Shivam Bhandari · Reviewed 31 October 2026 · How we write
Shark Tank India gave thousands of Indian founders a national stage and made business talk mainstream. Here we break down 42 pitches from the first three seasons — what each business does, the deal it closed on air, what that deal says about its valuation, and the lesson for your own business.
season 1
20 December 2021 – 11 February 2022
36 episodes
198 businesses pitched and 67 got deals, with about ₹42 crore committed. Sharks: Ashneer Grover, Aman Gupta, Anupam Mittal, Ghazal Alagh, Namita Thapar, Peyush Bansal and Vineeta Singh.
season 2
2 January – 13 March 2023
51 episodes
Amit Jain (CarDekho) joined Aman Gupta, Anupam Mittal, Namita Thapar, Peyush Bansal and Vineeta Singh.
season 3
22 January – 31 March 2024
52 episodes
Twelve sharks rotated, including new faces Ritesh Agarwal (OYO), Deepinder Goyal (Zomato), Radhika Gupta (Edelweiss MF), Azhar Iqubal (Inshorts), Ronnie Screwvala (upGrad) and Varun Dua (ACKO). About ₹78 crore was reported committed across 89 deals.
How to read a Shark Tank deal
valuation
Investment ÷ equity %. ₹75 lakh for 7.5% values the business at ₹10 crore. Founders ask high; sharks usually negotiate the valuation down.
debt
Some money comes as a loan with interest. It must be repaid but doesn't reduce the founders' ownership — useful for businesses with steady cash flow.
royalty
Investors take a small share of revenue until a set amount is returned. It lowers their risk, so they may accept less equity in exchange.
Season 1 · 20 pitches
₹75 lakh for 7.5% equity
Bummer
A D2C underwear brand that made a dull, ‘buy-whatever’ category playful with bold prints and comfortable fabrics.
about ₹10 crore valuation →
₹1 crore for 15% equity
Skippi Ice Pops
A brand built on a childhood nostalgia product — the ice pop — repackaged with better ingredients for modern parents.
about ₹6.67 crore valuation →
₹50 lakh for 2.5% equity
Beyond Snack
A Kerala banana-chip brand taking a regional, mostly unbranded snack to a national audience with modern packaging and flavours.
about ₹20 crore valuation →
₹75 lakh for 16% equity
BluePine Industries
A frozen-food brand bringing India's favourite street snack — momos — into home freezers and restaurant kitchens.
about ₹4.69 crore valuation →
₹70 lakh for 2.75% equity
Tagz Foods
A ‘better-for-you’ chips brand competing with global snack giants by offering popped rather than fried chips.
about ₹25.45 crore valuation →
₹1 crore for 1.5% equity
Revamp Moto
An electric two-wheeler designed to be adapted for different uses — personal travel or carrying goods — with add-on modules.
about ₹66.67 crore valuation →
₹50 lakh for 20% equity
Menstrupedia
A social enterprise using comics to break taboos around periods and teach young girls and boys about menstrual health.
about ₹2.5 crore valuation →
₹1 crore for 40% equity
Hammer Lifestyle
An affordable audio and wearables brand in a crowded market where boAt and many others compete on price and style.
about ₹2.5 crore valuation →
₹1 crore for 15% equity
Get-A-Whey
An ice cream brand for health-conscious buyers, combining dessert with protein and no added sugar.
about ₹6.67 crore valuation →
₹60 lakh for 4% equity
Hair Originals
A D2C brand selling natural hair extensions, using India's large supply of temple hair and online education to build trust.
about ₹15 crore valuation →
₹1 crore for 6% equity
The Renal Project
A healthcare start-up making dialysis more accessible and affordable by bringing it closer to patients' homes.
about ₹16.67 crore valuation →
₹1 crore for 6% equity
Sunfox Technologies
A med-tech company making a pocket-sized ECG device so heart checks can happen outside large hospitals.
about ₹16.67 crore valuation →
₹75 lakh for 21% equity
Wakao Foods
A plant-based food brand using jackfruit to make ready-to-cook meat alternatives.
about ₹3.57 crore valuation →
₹50 lakh for 10% equity, plus ₹50 lakh debt
Namhya Foods
A health-food brand combining Ayurvedic ingredients with modern packaged formats.
about ₹5 crore valuation →
₹20 lakh for 15% equity, plus ₹30 lakh debt
NOCD
A challenger energy drink in a category dominated by Red Bull and other global brands.
about ₹1.33 crore valuation →
₹1 crore for 10% equity
IN A CAN
A ready-to-drink cocktail brand offering bar-style drinks in convenient cans.
about ₹10 crore valuation →
₹25 lakh for 30% equity
Heart Up My Sleeves
A fashion brand selling detachable sleeves so one outfit can be styled many ways.
about ₹83 lakh valuation →
₹40 lakh for 50% equity
Booz Scooters
An e-mobility rental service for large private spaces such as campuses, parks and industrial areas.
about ₹80 lakh valuation →
₹75 lakh for 6% equity
Peeschute
A hygiene product solving a real problem — access to clean toilets during travel — especially for women.
about ₹12.5 crore valuation →
₹1 crore for 4% equity
Insurance Samadhan
A service that helps customers resolve insurance complaints and rejected claims.
about ₹25 crore valuation →
Season 2 · 10 pitches
₹1.5 crore for 1.5% equity
Snitch
Siddharth Dungarwal's Snitch applies Zara-style fast fashion to Indian menswear, launching new designs rapidly online and in stores.
about ₹100 crore valuation →
₹2 crore for 4% equity
Unstop
Ankit Aggarwal's Unstop connects students with competitions and employers. It famously chose a ₹2 crore deal over a larger offer.
about ₹50 crore valuation →
₹1.5 crore for 0.6% equity, plus ₹1.5 crore debt at 12% interest
STAGE
An OTT platform built for regional dialect audiences that big streaming services largely ignored.
about ₹250 crore valuation →
₹2 crore for 2% equity
Medulance
Pranav Bajaj and Ravjot Arora's Medulance organises ambulance services so patients can book one quickly.
about ₹100 crore valuation →
₹80 lakh for 2.5% equity
Perfora
A D2C oral-care brand making electric toothbrushes and premium toothpaste accessible to Indian buyers.
about ₹32 crore valuation →
₹1 crore for 4% equity
PadCare
Ajinkya Dhariya's PadCare recycles used sanitary pads into raw materials, tackling a major waste problem.
about ₹25 crore valuation →
₹1 crore for 2% equity
Haqdarshak
Aniket Doegar's Haqdarshak helps people discover and apply for government benefits they're entitled to.
about ₹50 crore valuation →
₹40 lakh for 20% equity
Sharmaji Ka Aata
A brand selling freshly ground flour, betting that customers will pay for freshness in a basic staple.
about ₹2 crore valuation →
₹1 crore for 1% equity, plus ₹50 lakh debt at 12% interest
Rubans
Chinu Kala's Rubans built a fashion-jewellery brand across online channels and retail kiosks.
about ₹100 crore valuation →
₹1 crore for 1.25% equity
Zoff
A spice brand competing in a crowded, trust-driven category with quality and modern packaging.
about ₹80 crore valuation →
Season 3 · 12 pitches
₹3 crore for 1.5% equity, plus 1% royalty until ₹3 crore is recouped
Nasher Miles
A D2C luggage brand that secured one of the largest deals of Season 3, backed by all the sharks on the episode.
about ₹200 crore valuation →
₹2 crore for 6% equity
JewelBox
A jewellery brand built on lab-grown diamonds — chemically identical to mined diamonds but much cheaper.
about ₹33.33 crore valuation →
₹2 crore for 2.67% equity
Dil Foods
A ‘virtual restaurant’ company that runs delivery-only food brands from existing restaurants' kitchens.
about ₹74.91 crore valuation →
₹1.5 crore for 2% equity, plus an extra 2% equity until ₹1.5 crore is recouped
Yes Madam
A home salon platform connecting customers with beauty professionals who visit their homes.
about ₹75 crore valuation →
₹2 crore for 1% equity, plus 1% royalty until ₹3 crore is recouped
Refit
A refurbished-phone business offering quality-checked used smartphones at lower prices with warranties.
about ₹200 crore valuation →
₹75 lakh for 2.5% equity
Littlebox
A D2C fast-fashion brand for young women that got a deal backed by all the sharks on its episode.
about ₹30 crore valuation →
₹1 crore for 3.2% equity
P-Tal
A brand selling traditional metal kitchenware made by Indian artisans, backed by all the sharks on its episode.
about ₹31.25 crore valuation →
₹2 crore for 4% equity
Canvaloop Fibre
Shreyans Kokra's Canvaloop turns agricultural waste into textile fibres, attracting a deal from all the sharks on its episode.
about ₹50 crore valuation →
₹2.5 crore for 1% equity, plus 1.5% advisory equity (conditional offer)
WeHear
A hearing-solutions company making hearing aids more affordable and accessible.
about ₹250 crore valuation →
₹1 crore for 1% equity, plus 1% royalty until ₹1 crore is recouped
Adil Qadri
A fragrance brand built on its founder's social media following and India's attar tradition.
about ₹100 crore valuation →
₹1 crore for 4% equity, plus 2% royalty until ₹1.5 crore is recouped
Lea Clothing
A women's fashion brand that secured a royalty-plus-equity deal with several sharks.
about ₹25 crore valuation →
₹1 crore for 5% equity
Aroleap
A connected home-gym product combining compact equipment with digital workouts.
about ₹20 crore valuation →
What Shark Tank India teaches about business
- Know your numbers. Sharks repeatedly ask about revenue, margins, customer acquisition cost and repeat rate. Use our customer lifetime value and acquisition cost tools before you pitch anyone.
- Valuation is a negotiation. The opening ask is an anchor; the final number reflects risk. See the anchoring bias.
- Visibility fades; unit economics stay. TV brings a spike in sales. Only repeat customers and healthy margins keep it going.
- Structure matters. Debt and royalties can protect founder ownership. Model them with our cap table builder.
Frequently asked questions
How do you calculate valuation from a Shark Tank deal?
Divide the investment by the equity percentage. For example, ₹1 crore for 10% equity values the company at ₹10 crore (₹1 crore ÷ 0.10).
What is a royalty deal on Shark Tank India?
In a royalty deal, investors receive a percentage of the company's revenue until a set amount is repaid, on top of their equity. It reduces investor risk and often lets founders give away less equity.
Why do some Shark Tank deals include debt?
Debt is a loan that must be repaid with interest but doesn't dilute ownership. Mixing debt with equity lets businesses with steady revenue raise more money while giving away less of the company.
Does every deal on Shark Tank India close after the show?
Not necessarily. Deals made on TV are subject to due diligence afterwards, and some change or don't complete. The figures here are the deals announced on the show.
Is the TV exposure worth more than the money?
For many consumer brands, yes. Founders have reported large spikes in website traffic and sales after their episodes air, but analysts note the boost fades unless the brand has strong repeat purchase and unit economics.
Deal terms are as announced on air and listed in published season records. Deals made on the show are subject to due diligence and may have changed afterwards. Disha is not affiliated with Shark Tank India or Sony.