The founders asked for ₹60 lakh in exchange for 5% equity, valuing the company at ₹12 crore.
They hoped to use the investment to:
- Expand marketing efforts to attract more students.
- Develop stronger course content with real-world sales scenarios.
- Scale the team and mentor network to enhance training quality.
With two cohorts completed, Hive School had generated ₹45 lakh in revenue in just a few months.
However, the sharks weren’t convinced that the business was ready for investment.
Shark Vineeta Singh shared her own struggles with cold calling when she started her business. “I called people all day, and they’d yell at me. It was humiliating, but it taught me resilience,” she said. She questioned why Hive School’s program didn’t focus on real-world sales experience, stating, “I don’t want to hire someone who just knows strategy—I want to see them sell.”
Shark Anupam Mittal felt that the founders themselves lacked sufficient sales experience to train others. “You’re running a school for sales, but how much have you actually sold?” he asked. He doubted whether they could truly prepare students for high-pressure sales environments.
Shark Aman Gupta felt that real sales skills come from hands-on learning, not just coursework. He asked, “Why aren’t students getting live sales experience? Why would I hire someone with no real-world exposure?” The founders’ responses failed to satisfy his concerns, leading him to opt out.
Shark Kunal Bahl advised the founders to focus on profitability before seeking investment. He stated, “Funding will give you pleasure, but building a profitable business will give you happiness.” He felt Hive School needed to prove its success before taking outside capital.
Shark Peyush Bansal agreed with Kunal, saying that the startup was too early-stage for investment. He advised them to establish a strong track record before pitching to investors again.