11 March 2024 – In the latest episode of Shark Tank India, a compelling story unfolded as Pranjay, a former employee of Shark Amit Jain, showcased his bakery business alongside his mother. Having once worked together, Pranjay expressed gratitude to Amit for his unwavering support. With an initial ask of 60 lakhs for 1.5% equity, the mother-son duo aimed to entice the sharks with their customised cakes.
Pranjay, once a product manager under Amit Jain, ventured into entrepreneurship, starting a bakery business. The sharks, intrigued by their unique offerings, were treated to personalized cakes reflecting each shark’s personality and company.
While the sharks praised the cakes, Aman Gupta raised concerns about differentiation in a crowded market. Aman and Namita questioned the scalability of the business, expressing reservations. Vinita Singh, Namita Thapar, Aman Gupta, and Anupam opted out, citing uncertainties.
Deal Struck with Amit Jain:
Amit Jain, however, acknowledged the potential and proposed an alternative deal at 60 lakhs for 5% equity. After a thorough discussion, a deal was sealed at 60 lakhs for 2.5% equity, highlighting the strategic partnership between the former employer and employee turned entrepreneur.
Conclusion:
The episode showcased the dynamic journey of a founder who transitioned from an employee under Amit Jain to a successful entrepreneur securing a deal on Shark Tank India. The strategic investment not only validates the potential of the bakery business but also emphasizes the significance of mentorship and support
