India’s First PMV Car Enters Shark Tank India 2

From spicing up things to India's first mini car for convenience all are welcomed on Shark tank India

Shark Tank India gives a platform to all innovative investors to pitch for their businesses. In yesterday’s episode India’s first mini car PMV, tastes of India Spice Story, and an adrenaline rush inside a stock market with Bull spree and many other founders with innovative ideas come on Shark Tank India.

PMV

‘PMV Electric’ Kalpit Patel introduced his car which is fully manual and can be also operated by the owner with the app. His vision is to make driving a convenient way of transportation and the issue of parking space can be minimized as the car design looks portable.

He pitched for 1cr at the equity of 1% making it almost 100 crore evaluation. Sharks were shocked by the evaluation and the model prototype did impress them. Anupam offered him an offer of 40 lakhs at 2% and also a 60 lakhs debt; later revised it to 1 cr of 2% equity but Kalpit refused the offer.

Also, ReadCompetition Of Lenskart Enters Shark Tank India

The Spice Story

Three founders of Spice Story came to Shark Tank India with sweet and spicy chutney in a squeeze bottle. Three founders from different backgrounds came to pitch for 70 lakhs for 2% equity. The sharks asked them about their company and scalability but the numbers didn’t interest them. They also said that because of the covid, they were unable to scale and market but in recent months the company has started to pace.

Namita offered them a deal of Rs. 70 lakhs for 5% equity, which is considered “a very good offer”. They took the offer with pride.

Bull Spree

Three entrepreneurs came onto the stage of shark tank India with an app to easily make things easier for people to experience the stock market rage. They pitched for Rs. 75 lakhs against 1.5% equity. The sharks were impressed by their app and told them about all their competitors and how they can overpower them.

None of the sharks were impressed by the scalability but Aman and Peyush offered them Rs. 75 lakhs for 2.86% equity. They wanted to put in their counter offer but Peyush said it was a “high-risk business” and the deal was closed with both Aman and Peyush on board.

Also Read- From The Love Of Coffee To Clean Blockages, Shark Tank India 2 Salutes Entrepreneurs