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Shark Tank season 4 has more investment, ingenious ideas and even more drama awaiting. But, this season has got a deal engraved in the history of the show. Shark Peyush Bansal made a record breaking investment t of Rs 5 crores. This makes up for a major highlight of the season so far and also underscores the growing influence and potential in the ecosystem of Indian startups.
The co-founder and CEO of Lenskart, Bansal asked for a ‘controlling stake’ of 51 per cent in the high-end lifestyle and accessory brand NOOE. It is founded by entrepreneurs Piyush Suri and Neetica Pande.
The panel of ‘sharks’, which included Anupam Mittal, Vineeta Singh, Aman Gupta and this season’s newcomer Kunal Bahl, were also amazed by the clean quality and aesthetic finish of the brand’s products. Vineet even remarked it to the “next Sabyasachi”.
About the Record-Breaking Deal
The panel of judges weren’t particularly convinced by their business as it was not generating profitable revenue. Intrigued by their association in UK, as they Sharks further questioned the business, they came to know that the founders have Rs 22 lakh in the bank, and debts of over Rs 1.2 crore.
Products ne kiya impress, par business ne diya sharks ko stress! 😬
What’s lies in the fate for NOOE? 🦈
Catch all the action on Shark Tank India Season 4, streaming now, only on Sony LIV – Mon to Fri at 8 PM!#SharkTankIndiaSeason4onSonyLIV#SharkTankIndia pic.twitter.com/2ACF3FIzZL— Sony LIV (@SonyLIV) January 8, 2025
Piyush and Neetica has pitched for Rs 50 lakh in exchange of 1% equity, seeking a valuation of Rs 50 crore. As the business truths unfolded, Vineeta, Kunal and Anupam backed out of the deal. However, Aman expressed his interest and offered the founders Rs 3 crore. Aman said, “Business ki halat toh tight hai boss. I love clean aesthetics. It’s amazing on designed but unfortunately Peyush business wise kai issues hai.”
Eventually, judge Peyush also pitched, however, asked for a ‘controlling stake’ of 51% in the company. Further, he initially offered Rs 3 crore but also remarked, Maine zyada socha nahi hai (I haven’t thought it through yet).” The founders initially had a cold feet and were not on board to handover the reins of their company to Bansal. After consulting each other they asked if he would be willing to put in Rs 5 crore, and they agreed to give away a controlling stake in the company to him.
Piyush Suri, Co-founder of NOOE, expressed his excitement and said, “This is not just a deal; it’s the beginning of an exciting journey. Shark Tank India has been an incredible platform for businesses like ours, enabling entrepreneurs to dream big and achieve more. Peyush’s investment marks the next chapter for NOOE, and we are thrilled to have him as a partner. With his expertise and guidance, we are confident that NOOE will reach even greater heights while inspiring countless entrepreneurs to chase their dreams.”
As the founders left, Aman told Neetica that she should reach out to him in case she wants a job in the future!
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