Shyle on Shark Tank India: How Founders Turned ₹7 Lakh Startup into a ₹70 Crore Valuation, But Why Did Shark Anumpam Accuse the Founders?

Shyle, a Jaipur-based silver jewellery brand, is redefining the way people perceive traditional jewellery by merging heritage craftsmanship with modern aesthetics. Founded in December 2017 by Astha Katta Sirohiya and her husband, Radhesh Sirohiya, the brand has built a loyal following for its authentic and affordable designs crafted with 92.5% pure silver.

Click here to visit their official website : Shyle

The company’s mission extends beyond selling jewellery; it seeks to promote Jaipuri art and craftsmanship globally while creating meaningful livelihoods for artisans.

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Astha, raised in a business-oriented family in Jaipur, discovered her passion for jewellery after completing her MBA at Nirma University, Ahmedabad. On returning to Jaipur, she decided to channel her love for jewellery into a startup that celebrated local artistry. With an initial investment of just ₹7 Lakhs, Shyle was born.

Astha’s husband, Radhesh, joined the venture as a consultant, helping Shyle establish a strong foundation. Together, the duo focused on creating a brand that resonated with every generation, offering unique designs such as silver rakhis, natarbattu, and Mahamrityunjay Jaap lockets.

Shyle has processed over 1.5 lakh orders and amassed a social media following of 3.9 lakh Instagram followers. Its sales channels include:

With a 15% repeat customer rate, Shyle has successfully carved out a niche in the competitive jewellery market.

The startup remains bootstrapped, holding ₹50 Lakhs in the bank while growing steadily.

Shyle currently works with 30 artisans, aiming to impact the lives of 100 families within the next two years. By blending traditional handcrafting techniques with modern designs, the brand not only preserves Jaipuri art but also uplifts the artisan community.

The founders aspire to achieve ₹100 Crores in revenue within two years, a goal that would place Shyle among India’s Indicons—startups with revenues exceeding ₹100 Crores while maintaining profitability.

The founders pitched their startup on Shark Tank India, seeking ₹70 Lakhs for 1% equity, valuing the company at ₹70 Crores. The pitch highlighted their unique blend of tradition and innovation, along with their plans to expand into exclusive brand outlets.

The sharks were intrigued by Shyle’s story and potential, resulting in multiple offers:

• Shark Anupam Mittal: Offered ₹1.4 Crores for 5% equity, highlighting his expertise in connecting with NRIs.
• Sharks Namita Thapar and Ritesh Agarwal: Offered ₹70 Lakhs for 1.5% equity and a 1% royalty until the ₹70 Lakhs was recovered.

After initial deliberation, Namita and Ritesh revised their offer, reducing the royalty to 0.5%. The founders eventually accepted this revised deal.

Anupam raised concerns about the royalty agreement after overhearing a conversation between the founders that suggested they might disregard the royalty terms later. This led to tension, but the founders clarified their intentions, reassuring the sharks.

The founders’ clear communication about their vision and business strategy played a key role in securing the deal.

Shyle’s plans to open exclusive brand outlets and expand artisan collaborations showcased their growth potential.

By blending traditional techniques with modern aesthetics, Shyle demonstrated how heritage businesses can thrive in today’s market.

1. Scaling Production: Maintaining quality while increasing production capacity will require significant effort.
2. Royalty Payments: Ensuring compliance with the royalty agreement could impact profitability.
3. Retail Expansion: Establishing exclusive brand outlets demands strategic planning and investment.

1. Global Reach: Expanding exports and targeting international markets.
2. Brand Recognition: Leveraging social media and influencer collaborations to grow their audience.
3. Product Diversification: Introducing new product lines, such as bridal jewellery or men’s accessories.

• Shyle’s commitment to uplifting artisans ensures their brand has a meaningful impact on local communities.
• Their jewellery, crafted with 92.5% pure silver, appeals to consumers seeking quality and authenticity.
• By focusing on direct-to-consumer sales through their website, Shyle maintains control over its customer experience.

Shyle’s journey from a ₹7 Lakh investment to a ₹70 Crore valuation is a testament to the founders’ dedication to tradition, innovation, and customer satisfaction. Their success on Shark Tank India not only brought them funding but also mentorship from sharks like Namita Thapar and Ritesh Agarwal.

As Shyle works toward becoming an Indicon, its focus on preserving Jaipuri art while scaling globally makes it a brand to watch. For entrepreneurs, Shyle’s story serves as a reminder that combining passion with purpose can lead to remarkable achievements.