Peyush Bansal sets new Shark Tank India record by offering Rs 5 crore deal to…, Aman Gupta gets furious, says…
GH News January 10, 2025 05:06 PM
Shark Tank season 4 has more investment ingenious ideas and even more drama awaiting. But this season has got a deal engraved in the history of the show. Shark Peyush Bansal made a record breaking investment t of Rs 5 crores. This makes up for a major highlight of the season so far and also underscores the growing influence and potential in the ecosystem of Indian startups.
Peyush Bansals Record Breaking Investment
The co-founder and CEO of Lenskart Bansal asked for a controlling stake of 51 per cent in the high-end lifestyle and accessory brand NOOE. It is founded by entrepreneurs Piyush Suri and Neetica Pande.
The panel of ‘sharks’ which included Anupam Mittal Vineeta Singh Aman Gupta and this season’s newcomer Kunal Bahl were also amazed by the clean quality and aesthetic finish of the brands products. Vineet even remarked it to the next Sabyasachi.
About the Record-Breaking Deal
The panel of judges werent particularly convinced by their business as it was not generating profitable revenue. Intrigued by their association in UK as they Sharks further questioned the business they came to know that the founders have Rs 22 lakh in the bank and debts of over Rs 1.2 crore.
Products ne kiya impress par business ne diya sharks ko stress! 😬
Whats lies in the fate for NOOE? 🦈
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— Sony LIV (@SonyLIV) January 8 2025
Piyush and Neetica has pitched for Rs 50 lakh in exchange of 1% equity seeking a valuation of Rs 50 crore. As the business truths unfolded Vineeta Kunal and Anupam backed out of the deal. . Aman offered the founders Rs 3 crore instead of the Rs 50 lakh that the founders had originally asked for. Peyush also showed interest but asked for a ‘controlling stake’ of 51% in the company. He said that he is also willing to offer Rs 3 crore but admitted “Maine zyada socha nahi hai (I haven’t thought it through yet).” The founders were dead against handing over the reins of NOOE and took a moment to consult each other. Meanwhile Aman revised his offer to Rs 2 crore in exchange of 30% equity. Aman said Business ki hala to tight hai boss. I Love clean aesthetics. Its amazing on designed but unfortunately Peyush business wise kai issues hai.
They asked if he’d be willing to put in Rs 5 crore and they agreed to give away a controlling stake in the company to him. Piyush Suri Co-founder of NOOE expressed his excitement about the deal said “This is not just a deal; it’s the beginning of an exciting journey. Shark Tank India has been an incredible platform for businesses like ours enabling entrepreneurs to dream big and achieve more. Peyushs investment marks the next chapter for NOOE and we are thrilled to have him as a partner. With his expertise and guidance we are confident that NOOE will reach even greater heights while inspiring countless entrepreneurs to chase their dreams.”
Aman was aghast at the deal even as Peyush assured them that they had made the right decision. As the founders left he told Neetika that she should reach out to him in case she wants a job in the future