The much-anticipated fourth season of Shark Tank India kicked off with an array of engaging pitches and lively moments. On the first episode, entrepreneurs Karan and Advita presented their luxury concierge service, Indulge. Their pitch targeted India’s 12,000 ultra-high-net-worth individuals, offering exclusive services in travel, dining, retail, unique experiences, and more. Seeking ₹50 lakh for 1% equity, the duo aimed to impress the Sharks. However, the pitch sparked divided opinions.
The panel, featuring Anupam Mittal, Peyush Bansal, Namita Thapar, Vineeta Singh, Aman Gupta, and newcomer Ritesh Agarwal, debated the service’s scalability and necessity. The entrepreneurs revealed their current customer base of 183 paying clients. They charge ₹40,000 monthly or ₹4 lakh annually, excluding expenses. Anupam quickly assumed they also earned commissions from brand partners. When they admitted to taking a 5% cut on deals, questions of transparency arose. Anupam pressed further, asking if clients were aware of this arrangement. The entrepreneurs shrugged off the concern, stating their clients didn’t need such details.
Anupam expressed skepticism, remarking that many ultra-wealthy individuals, including himself, already employ executive assistants for personal needs. Aman added that he couldn’t relate to the business model, as he meticulously tracks every rupee he spends. Peyush playfully teased Namita, suggesting she might be the perfect client since she often travels with a large entourage. Curious about the kind of demands they fulfilled, Peyush asked for examples. The entrepreneurs recounted an unusual request of delivering a Diet Coke can to a remote Himalayan village at a cost of ₹4,000. Aman was visibly shocked, exclaiming disbelief over the extravagant expense.
Karan and Advita highlighted their app, which allows clients to access villas, yachts, and artwork. Anupam remained unconvinced, pointing out inconsistencies in their financial details. He stated that credibility was a major issue and questioned their clarity. “Without transparency, raising capital will be challenging,” he noted.
As the pitch progressed, Aman, Namita, and Vineeta decided to step back, citing similar concerns. Peyush, initially intrigued, probed further into the business structure. The revelation of a prior investment from millionaire Nikhil Kamath caught his attention. The duo disclosed that Kamath had invested ₹75 lakh during the early stages but eventually exited the venture. This new information raised red flags for Peyush, prompting him to withdraw. He explained that unclear details made the business too risky.
Post-pitch, the entrepreneurs appeared disheartened. Advita voiced her frustration over the credibility concerns raised by the Sharks. Karan, maintaining optimism, suggested the Sharks might learn from their success if Indulge performs well. Vineeta, reflecting on the pitch, described it as “random max,” summing up her impression of the presentation.
Amid the intense discussions, the episode took a lighter turn with a humorous exchange about Ritesh Agarwal, the newest Shark and founder of OYO Rooms. His reported net worth of ₹16,000 crore made him the “richest Shark” on the panel, sparking playful banter among the group. Namita jokingly remarked that even Sharks now have wealth disparities, adding a humorous touch to the dynamic.
Anupam joined in with his characteristic wit, sharing that he once believed he was world-famous until realizing many people didn’t know him. He laughed about how he also thought he was among the richest, only to discover Ritesh far outpaced him. His candid remarks about the friendly competition among the Sharks drew laughter from everyone present.
The first episode set the tone for a season filled with innovation, drama, and camaraderie. While Indulger’s pitch failed to secure an investment, it underscored the challenges of convincing seasoned investors without absolute clarity. The Sharks’ lighthearted banter further added to the show’s charm, proving that even in business, humor plays a vital role. With such an eventful start, the season promises to deliver more inspiring stories and unforgettable moments.