A 79-year-old entrepreneur stepped onto the Shark Tank India stage with a dream he had nurtured for decades. Bhupen, the founder of MK, an auto manufacturing company, was accompanied by his co-founder, the son of an old friend. They sought Rs 3.5 crore for a 5% equity stake, placing their company’s valuation at Rs 70 crore. Despite not having sold a single unit yet, they had ambitious plans to produce 100 vehicles per month. Bhupen envisioned MK growing into a Rs 200 crore company, strong enough to challenge industry giants like Bajaj. He shared that he had been a fan of the show for years, and it was his wife who encouraged him to apply, reminding him of the young women who fearlessly presented their businesses on the platform.
The sharks were in awe of Bhupen’s determination and energy. Aman Gupta beamed when Bhupen mentioned that his wife was particularly fond of him. However, Aman was also the first to opt out, explaining that he lacked expertise in the automobile sector.
Bhupen then narrated his journey, revealing that he began his career in 1972. His path eventually led him to cross paths with the late politician George Fernandes. His lifelong goal had been to establish his own auto company, and he confidently responded to every question thrown at him. Namita Thapar asked how he planned to compete with dominant players like Bajaj. Bhupen confidently explained that his autos were not only more powerful but also available at a lower cost. He further elaborated that all manufacturers sourced their components from the same suppliers, and his ultimate goal was to set up his own production facility.
Bhupen’s partner took the opportunity to share his academic background. He revealed that he had pursued his PhD in the US and later completed his post-doctorate fellowship in Tokyo in 1991. Hearing this, Aman couldn’t resist making a joke, saying that Ritesh Agarwal was just about to be born at that time. Ritesh, who has a keen interest in the electric vehicle market, admitted that while he found the pitch intriguing, he wasn’t in a position to invest. Instead, he offered to introduce Bhupen to key players at Uber and similar companies, suggesting that a collaboration could be a smart starting point. Kunal Bahl echoed this sentiment, emphasizing that success in the automobile sector depended heavily on production scale.
Both Namita and Vineeta Singh also decided not to invest. However, they assured Bhupen that they would help him connect with important industry figures who could provide guidance. Namita also voiced concerns about the potential safety risks associated with electric vehicles.
Despite leaving without an investment, Bhupen’s passion left a lasting impression on the panel. In a heartfelt moment, several sharks stood up and touched his feet, honoring his resilience and lifelong commitment to his dream.