Shark Tank India recently saw a company selling AI drones but even before they could finish their demo on the show, Zomato’s Deepinder Goyal declared it as “dangerous” and Boat’s Aman Gupta called it “risky.” But, despite the initial hiccups, the business got investment from Aman as he was quite impressed by the founders’ ability to dream big.
Vecros, the AI company, started its demo by flying its drone around the set. They then invited one of the sharks to participate in the demo and Anupam Mittal volunteered. After he tried to change the settings of the drone, it almost collided into him and then hit the wall which left everyone shocked. The demo wasn’t what the founders had planned and it left them a bit disheartened. “It is so dangerous,” exclaimed Deepinder and as the founders explained what caused the collision, Aman said, “That was risky.”
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The founders came in to ask for Rs 1 crore for 2.5% of their company, valued at Rs 40 crore. The explanation of their product and their services left the sharks confused. They also revealed that they had received an acquisition offer from a US based company for 70% of their company for Rs 15 crore. Aman was quite impressed with the founder’s ambition when they revealed this and thus offered them a deal of Rs 10 lakh for 1% of the company, with Rs 90 lakh debt.
The founders then revealed that they were in the middle of raising more funds and asked Aman to increase the amount. He then raised the funding to Rs 20 lakh for 1% of the company. The founders agreed and as Aman made a deal with them, he said, “Aapki innocence appki strength hai (Your innocence is you strength.)” and congratulated them on “superpower of dreaming.”
Shark Tank India airs on SonyLIV.
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