The Str8bat founders entered Shark Tank India with confidence, asking for ₹1.5 crore for 1% equity, valuing the company at ₹150 crore.
As expected, the sharks were eager to test the product themselves. Shark Aman Gupta, a cricket enthusiast, immediately connected with the technology, taking a swing to experience the data feedback firsthand.
While the product impressed the panel, not all sharks were ready to invest.
- Shakrs Ritesh Agarwal, Kunal Bahl, and Vineeta Singh backed out, citing a lack of alignment with their business interests.
- Shark Namita Thapar saw potential but initially hesitated due to valuation concerns.
However, shark Aman Gupta saw the long-term vision and decided to step in with an offer.
Shark Aman made a bold offer of ₹1.5 crore for 4% equity, bringing Str8bat’s valuation down to ₹37.5 crore. The founders, valuing their company much higher, didn’t immediately accept.
Seeing their hesitation, Sharks Namita Thapar challenged them, asking why they weren’t considering her offer when she had shown interest.
The founders countered with 2.5% equity, pushing Aman and Namita to rethink their positions. After intense negotiations, a deal was struck:
- Final Deal: ₹1.5 crore for 3.5% equity
- Investors: Sharks Aman Gupta and Namita Thapar