A pitcher who had already received Rs 16 crore in funding was unanimously rejected in the most recent episode of Shark Tank India, which began its fourth season this week. Ghaziabad-based entrepreneur Nitin Chawla presented his one-stop complaint filing app, OneDios, to a panel of five “sharks”—Aman Gupta, Vineeta Singh, Peyush Bansal, Varun Dua, who has experience with warranties and insurance as CEO of Acko, and Anupam Mittal. Nitin asked for Rs 75 lakh in return for 1.5% stake in his company, which he valued at Rs 50 crore.
He told the “sharks” that he expects to make around Rs 7 crore this year, despite the fact that he is still losing money. The “sharks” were interested in learning more about Nitin’s services, but they didn’t appear to comprehend what he was saying. Nitin introduced OneDios as a platform that cuts down on the amount of time a customer must spend complaining to a company. Regardless of the company from which they purchased the faulty items, he promised buyers that they could lodge a complaint on his platform within 60 seconds. He went on to say that he sells extended warranties on his website in addition to receiving payment from the companies that have registered with him.
According to Varun, who has firsthand knowledge of this field, he “burned a lot of money” on the extended warranty sector. He said, “What you’re saying is oversimplified; there are too many variables in this.” But Nitin has an answer for every issue. However, Anupam appeared to comprehend his ruse. “You are taking us everywhere without getting to the point,” he responded. When one of us attempts to go further, you pretend that we don’t know what we’re talking about and that you’re simply waiting to put us in our place while you’re giggling behind your back.
Anupam responded, “Respect Varun,” he urged, adding, “If you want to, keep lying to yourself. However, AI has devastated your business. “If you can’t convince them, confuse them” is a saying you may have heard before. I’m not convinced, but I’m also not confused. I’m going.
Nitin’s pitch was likewise met with no interest from the other “sharks,” as Anupam was not present. He said in his post-pitch interview that he needed the funds to advertise his company, but he departed without reaching a deal. “After more than 200 rejections, I won’t be bothered by another one,” he said. As the “sharks” discussed the pitch with one another, Anupam remarked, “He’s a sales guy; he’s been doing sales all his life.” Vineeta shot back, “But you can sell without lying,”
