Shark Tank India Season 5: On the latest episode of Shark Tank India Season 5, a tense ‘brain fail’ moment turned emotional as pet care brand Nootie’s co-founder Akshay Mahendru broke down during questioning by judges. Despite the shaky pitch, Sharks Anupam Mittal and Namita Thapar went on to seal a deal of Rs 1 crore.
The episode also featured Vineeta Singh, Kunal Bahl, and Varun Alagh on the panel.
Pitching in front of the panel, with Vineeta Singh, Kunal Bahl, and Varun Alagh, pet care brand Nootie took the spotlight. One of the co-founders, Akshay Mahendru, broke down as the sharks grilled him till the end.
Nootie, co-founded by Mahendru, sought Rs 1 crore in exchange for 1.2 per cent of the brand, valuing their company at Rs 83.33 crore. Passionate for the cause, the brand shared the initiatives it took to make pet food as accessible as Rs 10 on quick commerce platforms. Calling this ‘thoughtful’, Shark Tank India judge Namita Thapar then asked him about the Supreme Court judgement on stray dogs. Calling it ‘harsh’, Mahendru even ate their product to convey that it was made with human-grade material.
‘Brain fail’ and breakdowns
The Shark Tank India Season 5 contestant shared that their pet care band had eight stores across the city. Operational even before they set up the brand, they also focus largely on other pet care products, and not just food. Condemned by Shark Tank judges for diversifying even before building a brand, this came as a big blow to Mahendru.
Towards the end, the Shark Tank pitchers acknowledged the poor decision. They admitted that they were “not good marketers, nor good brand builders.” With no manufacturing unit of their own, they ensured a low price bracket, becoming the differentiating factor across other premium pet care brands. Explaining the motivation behind diversifying his range, Mahendru shared that he was motivated to build a ‘house of brands’, but it was only driven by the demands of quick commerce platforms. Shark Varun Alagh, however, did not agree with the approach. He said that a brand needed to draw a line at some point to actually build its identity.
Mahendru’s breaking point came when the sharks quizzed him about his numbers. He choked up and was overwhelmed with tears in his eyes, said, “I am a little overwhelmed. Sorry. I am sorry, I am not able to tell you my numbers.” To pacify him, the Shaadi.com owner told him that he had a ‘brain fail’. As the investors tried to console him, he claimed that he was a ‘mama’s boy’. At the end, Sharks Anupam Mittal and Namita Thapar sealed the deal with Rs 1 crore in exchange for 4 per cent equity, with 1 per cent royalty, valuing the company at Rs 25 crore.