Hyderabad startups shine bright in Shark Tank India Season 2
The highest investment among Hyderabad startups was raised by ‘Portl’
HYDERABAD: The startup ecosystem in Hyderabad has seen an immense change in the last couple of years with the IT industry becoming more efficient and encouraging. This was yet again proved in a global platform of Shark Tank India Season 2. Shark Tank is a television show where startups from across the country, with products and services in various fields, pitch their business to Shark investors for raising funds.
Throughout the second season of the show, there were many startups who were featured in the show and who also raised good investments from founders of Shark companies.
The highest investment among Hyderabad startups was raised by ‘Portl’, a life-size interactive fitness mirror that can track ones’ fitness in every step of their day-to-day life. They raised Rs 1.5 Cr by giving 2.5 percent equity to three sharks- Head of Emcure Pharma Namitha Thapar, Co-Founder of BoAt Aman Gupta and CEO of Lenskart Peyush Bansal.
‘Gear Head Motors’, who manufacture India’s most affordable and efficient electric bicycles and tricycles, also raised Rs 1 Cr for 6.67 percent equity from two sharks- Peyush Bansal and Aman Gupta.
Hyderabad based food startup ‘Amore’, who make naturally flavoured and 100 percent vegetarian gelatos, raised Rs 75 lakh for 7.5 percent equity. Founder of Shaadi.com Anupam Mittal invested in Amore.
Another startup from Hyderabad automobile industry ‘Hornback’, that innovated a full size foldable bicycle, also raised Rs 50 lakh and 2.5 percent stake. C-Founder of CarDekho.com Amit Jain invested in the startup and promised support from another one of his companies BikeDekho.com.
Two other startups entered the Shark Tank India Season. However, due to various reasons, they were unable to raise investments from the Sharks.
‘Cloud Tailor’ a customised online tailoring service for women, did present an innovative pitch, but were unsuccessful in impressing the sharks due to reasons like lack of proper scaling plans.
‘Oye Happy’, a gift-making company that not only makes customised gifts but also makes creative gifts that were never seen before, was not able to raise funds. However, they managed to win many hearts and definitely grew a step up in their business ladder by being on Shark Tank India.