New Delhi, 10 February 2024 – In a recent episode of Shark Tank India Season 3, Aman Gupta, Co-founder of Boat, made a surprising rejection of a startup pitch despite the company receiving praise from Prime Minister Narendra Modi. The startup, DaakRoom, aimed to promote physical writing through campaigns and products.

DaakRoom’s Pitch:

DaakRoom is a company promoting physical writing through its campaigns and products. The founders sought a Rs 36 lakh investment for a 4% equity stake in their company. They emphasized their mission to revive physical writing and shared that Prime Minister Narendra Modi had personally praised their business, sending a letter of encouragement.

Contrary to the Prime Minister’s acknowledgement, Aman Gupta rejected the pitch, stating that the concept was reminiscent of old times and did not align with his vision of a viable business. He expressed a lack of passion for writing, leading to his decision to opt out of the investment opportunity.

Despite Aman Gupta’s rejection, DaakRoom secured a deal from Ritesh for Rs 36 lakh in exchange for a 6% equity stake. Ritesh attached a condition to his offer, indicating a reduction in his stake to 5% if the startup achieved the projected revenue.

Shark Tank India Season 3, brought back familiar sharks such as Namita Thapar, Aman Gupta, Peyush Bansal, Anupam Mittal, and Vineeta Singh. New additions to the panel included Amit Jain, Ritesh Agarwal, Azhar Iqubal, and Radhika Gupta, introducing diverse expertise to the show.

Conclusion:

The episode showcased the unpredictable nature of investment decisions on Shark Tank India, where even high-profile endorsements, including that of the Prime Minister, couldn’t secure a deal with Aman Gupta. DaakRoom’s ability to secure an alternative offer highlighted the resilience and adaptability of entrepreneurs in navigating the challenges of the investment landscape.