Shark Tank Pitches That Didn’t Get Investment But Became Successful

When Sony Network announced the first season of Shark Tank India, many wondered if it could replicate the global success of other Shark Tank editions. The show ignited hope among young Indian entrepreneurs, offering them a platform to showcase their innovative business ideas to experienced investors—known as the ‘Sharks.’

The concept of a business reality show was relatively new to Indian audiences. Traditionally, raising capital meant dipping into fixed deposits, mutual funds, or borrowing from close relatives. However, with Shark Tank India, terms like equity, investments, bull run, gross margin, and revenue have now become part of everyday conversations in Indian households.

The show saw several entrepreneurs impressing the multi-millionaire judges and securing investments. However, not all pitches managed to secure funding. Despite facing rejection on national television, some startups have since flourished and gained immense success. Let’s take a look at some of these inspiring Shark Tank India pitches that didn’t receive investment but went on to thrive.

Successful Startups That Faced Rejection on Shark Tank India

1. Qzense Labs

Founded: 2019

Valuation: Rs 400 crores

Co-founded by Ruhal Chib and Dr. Srishti Batra, Qzense Labs developed an innovative rotten fruit detection device to reduce food wastage in the agricultural sector. They requested Rs 1 crore for 0.25% equity, but the sharks were hesitant due to their low sales (Rs 15 lakh in 2020).

However, despite initial struggles, Qzense Labs made it to Forbes Asia’s “100 to Watch” list, recognizing the most promising emerging companies in the Asia-Pacific region.

2. Moonshine

Founded: 2016

Valuation: Rs 160 crores

Founded by Rohan Rehani and Nitin Vishwas, Moonshine is India’s first meadery, reviving the ancient alcoholic beverage made from fermented honey mixed with fruits and spices. During their pitch, they asked for Rs 80 lakhs for 0.5% equity, but the sharks declined the investment.

Despite the rejection, Moonshine has since expanded its presence in Maharashtra, Karnataka, Uttar Pradesh, Goa, and Himachal Pradesh, proving its market potential.

3. Keto India (Now Livofy)

Founded: 2018

Valuation: Rs 120 crores

Founder Sahil Pruthi was inspired by his mother’s recovery from brain surgery and created Keto India, a health-tech startup offering personalized nutrition plans. On Shark Tank India, he sought Rs 1.5 crore for 1.25% equity. Four of the five sharks countered with Rs 1.6 crore for 16% equity, but Sahil declined.

Since then, Sahil has rebranded the company as Livofy, expanding its focus in the health sector. The startup recently secured $550,000 (Rs 4.5 crores) in funding.

4. Urban Monkey

Founded: 2013

Valuation: Rs 100 crores

Founded by Yash Gangwal, Urban Monkey is a Mumbai-based streetwear fashion brand. Popular among celebrities like Raftaar and Rannvijay Singha, it offers trendy caps, sunglasses, belts, backpacks, and apparel. Despite seeking Rs 1 crore for 1% equity, the sharks turned down the investment.

Regardless, Urban Monkey has flourished and remains a leading brand in the streetwear segment.

5. Torch-It

Founded: 2016

Valuation: Rs 75 crores

Torch-It, co-founded by Hunny Bhagchandani and Mohit Chelani, develops assistive technology for people with disabilities. Their flagship product uses ultrasonic sensors to help visually impaired individuals navigate safely. They requested Rs 75 lakhs for 1% equity, but the sharks didn’t invest.

Despite this, Torch-It has continued to grow, gaining recognition for its innovation in assistive technology.

6. ExperientialEtc

Founded: 2017

Valuation: Rs 50 crores

Founded by Karan Bhardwaj and Prashant Pandey, ExperientialEtc specializes in experiential marketing, using cutting-edge technologies like holographic 3D displays, projection mapping, and magic LEDs. Their pitch for Rs 2 crore in exchange for 4% equity failed to secure investment.

However, the startup has since expanded globally and raised $350,000 (Rs 2.86 crores) in funding.

7. Agro Tourism – Pure Holidayism

Founded: 2003

Valuation: Rs 40 crores

Founder Pandurang Taware introduced the unique concept of ‘agriculture tourism,’ connecting farmers with tourists to provide a one-of-a-kind travel experience. During his Shark Tank pitch, he sought Rs 50 lakh for 5% equity, but none of the investors made an offer.

However, Shark Tank India judge Namita Thapar later expressed regret over not investing. Two months after the show ended, she personally invested in Agro Tourism, helping the startup grow significantly.

8. Flatheads

Founded: 2018

Valuation: Rs 25 crores

Co-founded by Ganesh Balakrishnan and Utkarsh Biradar, Flatheads specializes in sustainable casual sneakers made from materials like bamboo and banana yarn. They sought Rs 75 lakhs for 3% equity, but the sharks identified challenges in marketing and pricing.

Despite these hurdles, Flatheads has gained a loyal customer base and continues to expand in the sustainable footwear market.

9. Theka Coffee

Founded: 2017

Valuation: Rs 5 crores

After seven failed business attempts, Bhuvinder Madaan finally struck gold with Theka Coffee, which offers premium cold coffee in beer bottles. Seeking Rs 50 lakhs for 10% equity, his pitch intrigued the sharks initially, but they eventually declined.

Undeterred, Theka Coffee later secured Rs 2.5 crores from Dubai-based Zenith Multi Trading and also received offers from Microsoft and Reliance Retail to sell its products at their premises.