Shark Anupam Calls the Founder “Santa Claus Without a Beard”: Fundoo Labs on Shark Tank India

When pitching his ed-tech company Bambinos on the most recent episode of Shark Tank India’s fourth season, a founder who speaks Hindi as his first language emphasized the value of English. The pitcher, who was joined by his co-founder, stated that candidates who are proficient in English are given favor in the corporate sector. According to him, people who speak English will also be able to make a lot more money than people who speak other regional languages. Peyush Bansal concurred, stating that he had personally witnessed these biases.

The founders valued their company at an astounding Rs 100 crore and requested Rs 1 crore in exchange for 1% share. The panel of “sharks” was greatly impressed when they stated that they were predicting revenue of about Rs 30 crore this year. Additionally, the founders informed the “sharks” that they have raised approximately Rs 3 crore thus far from Amazon and Flipkart veterans.

In a world where screens dominate childhood entertainment, Fundoo Labs Creative Learning Pvt Ltd is offering something different—hands-on science kits and sensory toys that make learning fun.

Founded by Naitik and his 14-year-old daughter, Priyanshi, the company specializes in:

• DIY chemistry kits
• Safe, non-toxic slime
• Sensory toys like squishy and snow-making kits

The goal? Encourage curiosity, creativity, and hands-on learning through interactive experiments.

Naitik’s biggest supporter is his daughter, who tests every product, gathers feedback from her friends, and helps refine new ideas.

When they entered Shark Tank India, the sharks were immediately drawn to Priyanshi’s confidence and the brand’s potential.

Click here to visit their official website: Fundoo Labs 

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Naitik’s journey to entrepreneurship started early. Born into a wholesale grocery business family, he was managing the cash counter by first grade.

By 12th grade, he could run the entire shop on his own. Earned a degree in biomedical instruments engineering. Worked at L&T for six years, where he realized he wanted to make science more accessible to kids.

In 2016, he left his job and in 2017, he started conducting science workshops in schools, offering 200+ experiments to engage young minds.

When the pandemic hit in 2020-21, in-person workshops became impossible. Naitik pivoted to creating DIY science kits that could be used at home. He started with:

• Candy slime kits
• Galaxy slime kits

Investing ₹30 lakh of his own money, he manufactured 10,000 kits and sold them through distributors. Within 1.5 years, every unit was sold. Encouraged by this success, he developed 14 more products, which quickly gained traction.

The company has seen massive year-on-year growth, proving that demand for interactive learning toys is strong.

Fundoo Labs’ Sales from Own Products

• FY 2021-22: ₹5 lakh
• FY 2022-23: ₹50 lakh
• FY 2023-24: ₹1.5 crore
• FY 2024-25 (Till September): ₹1.5 crore

Fundoo Labs’ Total Sales (Including Partnerships)

• FY 2021-22: ₹1.16 crore
• FY 2022-23: ₹1.34 crore
• FY 2023-24: ₹1.98 crore
• FY 2024-25 (Till September): ₹1.5 crore

Fundoo Labs’ Sales Distribution

• General Trade (Retailers, Distributors): 48%
• Modern Trade: 36%
• Quick Commerce: 12%
• Own Website: 4%

Fundoo Labs’ Unit Economics

• COGS: 48%
• Operational Expense: 21%
• Sales and Marketing: 9%
• Freight: 3%
• Others: 1%
• EBITDA: 18%

The brand is growing at 200% per year, with plans to reach ₹200 crore in revenue by 2030.

Naitik entered Shark Tank India with a confident ask, ₹60 lakh for 4% equity, valuing Fundoo Labs at ₹15 crore.

The sharks were instantly drawn to Priyanshi’s impressive product demo, the brand’s focus on education and creativity and the rapid growth in sales, proving demand for science kits. However, not every shark was ready to invest.

Shark Anupam Mittal called Naitik “Santa Claus without a beard”, appreciating how the kits brought joy to kids.

Shark Sharks loved the sensory toys and slime kits, especially the fact that parents felt safe buying them.

Sharks Namita Thapar, Vinita Singh, and Peyush Bansal backed out, concerned about manufacturing scalability and market competition. Peyush offered to help with production issues but didn’t invest.

Sharks Aman Gupta and Anupam Mittal were interested but wanted more equity. After several rounds of bargaining, they offered ₹66 lakh for 7% equity, valuing the company at ₹9.43 crore.

Naitik, seeing the benefit of having two experienced investors, accepted the deal.

Despite their initial concerns, the sharks saw strong potential in Fundoo Labs due to:

1. A Growing Market for STEM Education

• The rise in demand for educational toys makes science kits an attractive segment.
• Parents increasingly prefer hands-on learning over screen time.

2. A Strong Brand with High Customer Retention

• Many customers return for new kits, creating a loyal buyer base.
• Word-of-mouth marketing is driving organic sales growth.

3. A Founder Who Knows the Business

• Naitik has deep experience in science education.
• His daughter’s involvement adds credibility and a personal touch to the brand.

With fresh funding and two experienced sharks onboard, Fundoo Labs is now focused on:

1. Expanding the Product Line

• Developing more DIY science kits for different age groups.
• Introducing subscription boxes for recurring revenue.

2. Strengthening Retail & E-Commerce Presence

• Expanding into supermarkets, toy chains, and bookstores.
• Listing products on Amazon, Flipkart, and Nykaa for wider reach.

3. International Expansion

• Exploring export opportunities in the US, UK, and Middle East.
• Tapping into the global market for educational toys.

Passion and Product Matter – The sharks were impressed not just by sales, but by the brand’s vision and quality.

Valuation Needs Justification – Investors wanted a lower valuation, proving that funding isn’t just about the idea, but the numbers.

Negotiation is Key – The founders compromised on equity to gain strategic investors, showing that flexibility can lead to better opportunities.

Fundoo Labs isn’t just selling toys—it’s creating a movement to make science fun.

With rapid growth, a strong product lineup, and now the backing of Aman Gupta and Anupam Mittal, the brand is set to scale even further.

By expanding its reach and refining its product strategy, Fundoo Labs could become a household name in the STEM toy industry, inspiring the next generation of young scientists.