The latest episode of Shark Tank India season 4 featured Nitin Chawla, an entrepreneur from Ghaziabad, pitching his complaint-registering app, OneDios. Despite earning Rs 16 crore in finance before, Nitin left the pitch without securing a deal. The panel of sharks, including Anupam Mittal, Aman Gupta, Vineeta Singh, Peyush Bansal, and Varun Dua, did not see value in his proposal.
Nitin sought Rs 75 lakh for 1.5% equity, valuing his company at Rs 50 crore. He explained that OneDios simplifies the process of registering complaints. Customers could file complaints in under 60 seconds, regardless of the product or brand. The platform also offers extended warranties, generating revenue from the registered brands. Nitin claimed his company expected to generate Rs 7 crore this year, though it was still incurring losses.
The sharks expressed curiosity about the idea but struggled to grasp the business’s core. Varun Dua, with prior experience in warranties and insurance, shared his skepticism. He said extended warranties were a complex area and felt Nitin’s explanation was oversimplified. Nitin countered the concerns with confidence but failed to alleviate their doubts.
Anupam Mittal openly criticized Nitin’s approach. He felt Nitin avoided addressing specific questions and instead tried to steer the conversation elsewhere. Anupam believed the pitch lacked respect for the panel’s expertise. He sharply commented, “When one of us attempts to delve deeper, your demeanour suggests that you are laughing on the inside and waiting to put us in our place, as if we have no idea what we’re talking about. Show Varun some respect.” He commented that the business was no longer viable due to advancements in AI, asserting that overselling without addressing key issues would not help. He concluded saying, “Have you heard the saying, ‘If you can’t convince them, confuse them’? I’m not confused, and I’m certainly not convinced. I’m out.”
With Anupam out, the other sharks showed no interest. Vineeta Singh remarked that honesty is crucial in business. She felt the pitch relied more on persuasion than transparency, which made her uncomfortable. Varun, too, echoed this sentiment. Despite Nitin’s enthusiasm, the panel felt unconvinced.
Post-pitch, Nitin remained undeterred. He acknowledged the rejection but shared that he had faced over 200 before. One more, he said, wouldn’t discourage him. He revealed that the funding was meant to scale his marketing efforts and bring his platform to a wider audience.
As the episode concluded, the sharks reflected on the experience. Anupam described Nitin as a skilled salesman but felt his approach leaned heavily on tactics rather than substance. Vineeta noted that selling should not come at the cost of trust.
Though Nitin left without a deal, his determination stood out. His belief in his vision, despite setbacks, was evident. However, his approach to pitching and addressing investor concerns seemed to hinder his chances of winning over the sharks.