This duo from Coimbatore pitched an amazing deal of 80 lakhs straight to Amit Jain for their stylish and carefully crafted baby products
The third season of Shark Tank has sparked immense interest across India, igniting excitement within the Indian market. The esteemed panel of judges for this season comprises Aman Gupta, Anupam Mittal, Namita Thapar, Vineeta Singh, and Amit Jain, each poised to seize upon the most promising opportunities.
March 14, 2024: In a recent episode of Shark Tank India 3, a particularly captivating and innovative pitch was presented by “A Toddler Thing“, a venture that seamlessly marries style with care. Hailing from Coimbatore, the dynamic duo behind the company, Swathi Sri Ravi Kumar and Ashwanth Sureshbabu, unveiled their vision for sustainable and safe baby clothing products, including diapering essentials, baby essentials, and garments crafted from Muslin Fabric – a unique offering in the Indian market. Their proposed a deal of Rs 80 lakhs for a 2% equity reflected their confidence in their venture’s potential.
Despite receiving accolades for their impressive annual sales of 4.78 Crore in the 22-23 fiscal year, Aman Gupta expressed tepid interest, saying “I am not very interested”. Namita Thapar echoed similar sentiments, expressing apprehensions about the scalability of the venture “As an investor, the scale of vision made me nervous”.I don’t see an exit as an investor, so I’m out. She said.
However, Amit Jain deviated from the expected course by extending a compelling offer: an initial investment of 40 lakh with a 2% equity stake, supplemented by an additional 40 lakh in royalty payments once the venture achieved a 7% profit margin, in exchange for a 3% share of sales.
This unexpected proposition sparked excitement among Swathi and Ashwanth, although it caught the other judges off guard. While Vineeta Singh acknowledged the quality and appeal of the products, she opted not to invest, wishing the entrepreneurs luck in their endeavours.
Anupam Mittal, on the other hand, chose to abstain from the investment opportunity, citing the absence of a definitive roadmap for growth he concluded “You have a checklist, you want to improve but don’t have an exact plan. Good luck, I am out”.
This pitch showcased the ingenuity and ambition of two college friends from Kumaraguru College of Technology, Coimbatore, who succeeded in securing a lucrative investment from Amit Jain, one of the sharks on the panel.
