Secret Formula, Family Legacy, And Movie-Like Story: Shark Tank India’s Aman Gupta, Anupam Mittal Wooed In Rs 2 Cr Deal

Season 5 of Shark Tank India featured family legacies, pocket notebooks, and secret recipes. The most recent episode of Season 5 had it all. The judges of Shark Tank India, Aman Gupta, Namita Thapar, Kunal Bahl, Anupam Mittal, and Mohit Yadav, were presented with their brand, Urban Wipe, by the leading women of a household cleaning innovation from Jaipur. The founder of Shaadi.com thought the pitch was like something from a movie, with a formula that was created in 2011 and generated over Rs 10 crore in lifetime sales.

“Aapne bahut papad bele hain, [You have worked really hard],” Mittal said, complimenting Dr. Renu, the cleaning brand’s biggest shareholder. She disclosed that she funded her children’s education and even taught coaching sessions before to her husband’s death in 2017. She holds a PhD in marketing. On the other hand, their brand originated from a small red journal that contained a mixture of chemicals that produced a fast and secure cleaning solution.

Related: Mera business main naam nahi aaega’: Aman Gupta’s condition before signing Rs 2 cr deal with Shark Tank India pitcher

UrbanWipe is powered by “Renu Enterprises” which is registered under MSME Act and is a dynamic and innovative company specializing in the manufacturing and marketing of the highly successful urbanWipe : Multi Variant Product line. Founded with a vision to provide top-tier cleaning solutions to consumers, urbanWipe aims to become a trusted name in the industry.

Website url – UrbanWipe

Samradhi and Aapurva were the two youthful and enthusiastic founders of UbranWipe, which was led by Dr. Renu Mathur. Aapurva, who had an MBA, was their mother’s first lover. CA Samradhi joined Urban Wipe after spending a considerable period of time as the Assistant VP at Barclays. Together, they created and produced five hero goods that were sold on Amazon, Flipkart, and Meesho. These products were well-received by influencers and over 35,000 customers on a single platform.

In order to increase the valuation to more than Rs 40 crore, they requested Rs 90 lakh for 2% equity. The judges of Shark Tank India, however, had a different idea. A product demonstration sealed the deal, but their positive testimonials alone were enough to persuade the panel. Social media users were immediately reminded of the Shark Tank USA demonstration of Scrub Daddy, a cleaning sponge that continues to rule the US market.

“Yeh aapko deni hai toh de do ham iski recipes dekh lenge [you can show the diary to us, we will look at all the recipes],” boAt’s Aman Gupta quipped in response to the diary of secrets. Mittal responded to this interaction by saying, “Yeh ekdum movie type ka scene hai. Ek diary reh gayi aur usme se aapne formula nikala.” It’s really amazing. [This looks like a movie scene, a diary was left behind, and you discovered a formula]

Aqua, surfactants, salts, and perfumes are the main ingredients of their cleaners. When questioned, they disclosed that the NABL-approved product also contains minimum and allowed amounts of sodium laureth sulfate (SLES) and cocamidopropyl betaine (CAPB). Aman Gupta, however, described the packaging as “fuddu,” meaning that Gen Z and millennials would not find it visually appealing.

Sales

• FY 23-24= Rs 3.47 Lakhs
• FY 24-25 = Rs 3.83 Crores
• YTD = Rs 6.08 Crores

Aman Gupta offered Rs 90 lakhs for 5% after seeing possibilities for improvement and brand building. Gupta raised the stakes by making a counteroffer of Rs 1 crore for the same sum, and Mohit Yadav entered the race with a similar offer. After careful consideration, the founders of the cleaning products attempted to make their offer, requesting that they collaborate for 3% of the ownership. The inventor of minimalism quickly withdrew after hearing this.

After more consideration, Mittal and Gupta joined forces to offer the brand Rs 1 crore each, for a total of Rs 2 crore, in exchange for 20% stock, which reduced their initial valuation by more than half. Mittal and Gupta concluded the deal with a joint investment because there was no room for bargaining.