In Shark Tank India 4, Ritesh Agarwal and Namita Thapar sign pitchers accused of copying big brands.
Tushar and Ravi Mundada, siblings from Maharashtra, pitched Aquapeya on Shark Tank India Season 4’s latest episode. Their products resembled Pepsi and Coca-Cola, but they got a deal.
The Pitch
Tushar and Ravi initiated Aquapeya, a water and soft drinks company, asking ₹70 lakh for 2% stock, valuing their business at ₹35 crore. They revealed their remarkable story, starting the company in 2018 with a ₹2.5 crore loan and house mortgage to establish a bottling plant.
The brothers said they acquired market share in Maharashtra by adapting packaging to local tastes. Based on client desire, they used green and blue bottles in different districts.
Dealing with Criticism
Namita Thapar remarked, “Why have you copied so much?” because their product design resembled famous businesses. After being accused of copying, the brothers claimed they followed client trends.
When asked about sales, they reported ₹9 crore last year and expect ₹12 crore this year. Although these figures impressed sharks, several expressed concerns. Peyush Bansal worried that their lack of creativity could leave them vulnerable to competition. Aman Gupta said their imitation may get them into issues with big brands, making him hesitant to invest.
The Deal
Despite these worries, Namita Thapar and Ritesh Agarwal saw business possibilities. Namita offered ₹70 lakh for 3% equity and 2% royalty until investment recovery. Ritesh replied but withheld the royalty, offering to distribute through his hotel network.
Ritesh believes their venture might reach ₹1,000 crore if properly grown. After several negotiations, Namita and Ritesh settled on a 1% royalty. The brothers closed the deal, valuing their company at ₹23 crore, a significant achievement despite a lower original estimate.
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