Shark Tank India is currently airing its fifth season and the latest episode of the show saw a match-off between two pet care brands – Nootie and Smylo. While both these companies managed to grab deals, the tank turned out to be quite overwhelming for Akshay Mahendru, one of the pitchers from Nootie as he nearly broke down while the shark grilled him for his numbers.
The pitch was presented to Anupam Mittal, Namita Thapar, Vineeta Singh, Kunal Bahl and Varun Alagh. Nootie came in seeking Rs 1 crore in exchange for 1.2 percent of the brand, valuing their company at Rs 83.33 crore.
Supreme Court’s ‘harsh’ stand against stray dogs
At the start of the pitch, Namita asked the Delhi-based entrepreneurs about the recent stand of the Supreme Court for stray dogs in the city. To this, Akshay was quick to respond as he called the court’s decision “harsh.” He added that he doesn’t refer to them as stray dogs but community dogs, as these dogs are a part of the community they reside in. He also introduced a biscuit pack that they sell on Swiggy Instamart for Rs 10, which is made specifically for the purpose of feeding these community dogs. Namita was instantly impressed by his response and called their actions “thoughtful.” Akshay admitted that they are doing this despite the fact that they won’t make much money on this. But their intention is to give the best product so even the community dogs can be fed decently.
Talking about their company, Akshay shared that along with the pet care brand, they also have eight stores across the city, which have been operational even before they started the brand. The stores sell pet care products of various companies. Now, their brand Nootie is sold on their website, their stores and all the quick commerce platforms. At one point, one of the pitchers also ate a part of the dog biscuit to demonstrate that this was made with human-grade material.
Pitcher breaks down, calls himself a ‘mama’s boy’
As the pitchers were grilled further by Varun, they admitted that they were “not good marketers, nor good brand builders”. They also shared that they don’t manufacture their own goods but insisted that their low prices were their key differentiating factor. The sharks did not appreciate the fact that apart from pet food, they were also doing other pet care products. Akshay said that he was interested in doing so as he was trying to make a “house of brands” but he also admitted that he had made all kinds of products because quick commerce platforms asked him to do so. Varun did not appreciate this answer and said that he has to say at some point as that is the only way he can build a brand.
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The pitchers had strong sales, but when it came to breaking down their numbers, Akshay was overwhelmed and was nearly in tears. “I am a little overwhelmed. Sorry. I am sorry I am not able to tell you my numbers,” he said. Anupam understood his position and told him, “You had a brain fail.” Even Varun consoled him and told him not to worry about it. As they came back in the tank after the match off, Akshay admitted that he got emotional as this platform meant a lot to him. “I am a mama’s boy,” he said and to make him feel better, Anupam said, “In India, everyone is a mama’s boy.”
After Vineeta, Varun and Kunal got out. Anupam and Namita gave them two individual offers. The deal was ultimately locked by these two with Rs 1 crore in exchange for 4 percent of the company, with 1 percent royalty, till the investors get their investment back, thus valuing the company at Rs 25 crore.
