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Shark Tank India 2: Diabexy Co-founders refuse four shark offer, know why

The company's founders, Lokendra and Nishu Tomar, delivered a very informative pitch when they warned the sharks that diabetes appeared to have taken over the country.

By Newsd
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Shark Tank India 2: Diabexy Co-founders refuse four shark offer, know why

Shark Tank India 2: Numerous entrepreneurs have begun their entrepreneurial journeys in India with the goal of bettering the lives of others, whether through food, lifestyle modifications, or other means. In the most recent episode of the second season, the Diabexy creators sold their food brand to the sharks.

The company’s founders, Lokendra and Nishu Tomar, delivered a very informative pitch when they warned the sharks that diabetes appeared to have taken over the country. The pair discussed glycaemic load, which is a parameter used to quantify the influence of a food item on a person’s blood sugar.

The couple created their company, Nutroactive, which produces two sorts of products: a variety of weight loss foods sold under the same brand name, and Diabexy. The latter produces a variety of food items with a glycaemic load that is at least 90 percent less than typical products.

The entrepreneurs want Rs1.5 crores in exchange for 1% of the business. Anupam Mittal was the first to declare himself “out,” stating that the duo was taking the incorrect approach to recruiting new members. Anupam urged them not to hire anyone external due to the company’s strong sales results, which were supported by Lokendra’s knowledge and Nishu’s execution.

Peyush Bansal, Aman Gupta, Namita Thapar, and Amit Jain were engaged in a lengthy debate and had an offer to make. They offered the pair Rs 1.5 million for 20% ownership. The founders declined, stating that they wished to maintain the company’s valuation at Rs 100 crores, and asked the sharks if they could structure a deal along these lines.

When the sharks declined, Lokendra stated, “I’ll better myself to that level and come back to you,” prompting Anupam to express his pride in the duo.

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