The inspiring journey of two founders from a remote village in Gujarat deeply moved the entire Shark Tank India 4 panel, including Namita Thapar. Despite facing countless challenges, they successfully built an artisanal cheese business, earning admiration from the Sharks for their resilience and determination.
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Even Ritesh Agarwal hesitated before considering an investment of ₹20 lakh for a 10% stake in a small-scale business run by two men from a remote village in Gujarat. Known for frequently investing or offering financial support through his fund to struggling founders, Ritesh has previously faced criticism from Aman Gupta for setting unrealistic precedents on Shark Tank India. However, both Sharks ultimately decided to step away from the pitch by the two entrepreneurs, who have remarkably built an artisanal cheese brand, Panchal Dairy, from their village. While the founders mentioned having the backing of an entrepreneur from Chennai, they acknowledged that their annual revenue has remained stagnant at ₹7 lakh.
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Namita Thapar and Sharks’ Feedback and Investment Decisions
Anupam Mittal expressed that he was “achambit” by their extensive knowledge of cheese and acknowledged their progress. However, he pointed out their lack of business discipline and the absence of a clear strategy for scaling their brand, leading him to withdraw from the deal. Kunal Bahl felt it was too early for him to invest, suggesting that he might reconsider once they reach Rs 50 lakh in revenue but emphasized that they would have to achieve this milestone independently. Aman advised them against seeking investor funding at this stage, instead urging them to focus on establishing efficient processes and a robust supply chain. He also warned that they would run out of funds in three months and questioned their plan to address this challenge. In response, one of the founders stated that they intended to secure a loan against their equipment.
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Namita Thapar’s Emotional Support
Namita Thapar felt deeply moved. She mentioned that she couldn’t invest but offered Rs 2 lakh as a financial runway. If they managed to double their revenue in the coming months, she would reconsider investing. Additionally, she offered biweekly Zoom sessions to guide them through challenges related to distribution and technology. With tears in their eyes, the founders accepted Namita’s gesture.