In a thrilling episode of Shark Tank India 4, two young entrepreneurs presented their innovative startup, Solnce, which offers India’s first one-stop solar app. The platform provides consumers with a comprehensive solution to understand solar requirements, compare products and prices, and install them. The founders sought an investment of Rs 1 crore in exchange for 1% equity.
### Initial Skepticism and Impressive Vision
Initially, the Sharks expressed skepticism and concern about the company’s potential. However, as the pitch progressed, they became increasingly impressed with the founders’ vision and the startup’s growth prospects. Anupam Mittal, with his trademark wit, asked, “Where do you fit—as a consumer or a company?” The founders explained their business model, which sparked a series of questions from the Sharks.
Vineeta Singh, Peyush Bansal, and Aman Gupta questioned why consumers should trust Solnce over established brands like Tata and Adani. Anupam Mittal also raised concerns about potential channel conflicts. Despite these concerns, the Sharks were impressed with the startup’s sales metrics and the enormous untapped potential in the industry.
### Bidding War Begins
As the negotiations began, Kunal Bahl made the first offer: Rs 2 crores for 10% equity. However, the founders wanted to explore other options. Anupam Mittal offered Rs 1 crore for 3% equity, along with a 1% royalty till the investment was recouped. Peyush Bansal bid Rs 1 crore for 5% equity, while Aman Gupta advised the founders not to offer royalty or give up too much equity.
### Final Deal and Acceptance
Aman Gupta made a straightforward offer of Rs 1 crore for 3% equity. After some negotiation, he revised his offer to Rs 1 crore for 2.5% equity, which the founders accepted. Kunal Bahl encouraged the founders to choose a Shark who would have “skin in the game” for the company’s growth. Aman Gupta’s revised offer ultimately won over the founders, and they sealed the deal.
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