Shark Tank India 4 is being aired from January 6, 2025, bringing innovative startups over to the show, and helping them with investment to take the right startup at the global level or expand widely. One pitcher, Radhika, introduced her vitamin patches business named ‘Patch Up’ on the latest episode of Shark Tank India. This startup was marked misleading by Sharks, still, it got a quadrupled investment of what she had asked.
Why do sharks tag the ‘Patch Up’ startup as misleading, how did it get a 4 times higher investment, and what is it all about? Let’s explore everything in this article.
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‘Patch Up’ Startup Pitch on The Shark Tank India 4.
‘Patch Up’ a vitamin patches business, founded by Radhika, came on Shark Tank India 4, asking for Rs 50 lakhs investment in exchange for 1.75% equity of the company, valuating her company at Rs 28.5 crore. She exclaimed, “I am extremely passionate about healthcare because I discovered that many of the supplements that I was previously taking contained substances banned in Europe and the US.”
“My goal is to create an addictive free supplements brand, “She added. Diving in her background, She said that she studied economics at Delhi University, and worked abroad for several years. She has been trying her hand at entrepreneurship for a while and started a company while working a regular job. She left the company for personal reasons because she had started that company with an ex-boyfriend. Anupam Mittal said adding, “Good Call”.
Patch Up Emerged Misleading with Its Pacheging.
Radhika gave a trial of how to use one of her patches, But Namita had some questions and concerns related to the packaging claims. Namita Thapar said that she had started to sell vitamin patches at Emcure Pharmaceuticals as well, but it didn’t work out. “The supplementary industry is a war zone”, She said and asked Radhika if she had done clinical product on her product.
Radhika said, “I hadn’t”, but Namita Thapar discovered that the packaging of her product says that they are, “Based On Trials”. She looked very concerned regarding this and she added, “It’s misleading to say ‘Based On Trials’ because the first thought that comes is that you have done the clinical trials”, she said.
“I’ll tell you what your issue is, and take it in the right spirit because I want you to succeed. You can’t put trials on the package when you have not done trials. You’re lucky you’re new so nobody has caught this, but this can cause massive damage to your reputation and also litigation.” Namita further added, and with what she backed up out of the deal.
Patch Up secured a Quadrapled Investment Than Its Ask.
Although, the startup was tagged ‘Misleading” by one of the sharks Namita Thapar, but is got the investment beyond expectations. While Namita Thapar and Aman Gupta backed out of the startup for a valid reason, sharks like Ritesh Agarwal, Anupam Mittal, and Peyush Bansal showed interest with fierce fight.
Ritesh Agarwal offered Radhika Rs 50 lakh in exchange for 5% equity in the company, and Peysh Offered Rs 40 Lakh in exchange for 2.25% equity in the company. Peyush was that much excited about the business that he even offered Radhika the option of canceling her deal with a VC for Rs 2 crore by taking that same amount from him, at the same valuation. I understand what it takes to build a category from scratch, “Peyush said, as IndianExpress reported.
But there was no shark that much passionate in the business as Anupam Mittal. Anupam says Radhika, shares his anger with the supplement industry and believes in her as a founder. He matched the Peyush offer and said it may bring more value to her as a founder. Radhika took some moments to reflect on and decided to go with Anupam.
As Anupam got up to present her a cheque, he called her ‘one of the best founders’ that he had ever seen on the show, reported by IndianExpress.
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