Shark Tank India 3: Anupam Mittal explains what happens after an entrepreneur strikes a deal on the show, says "If a deal does not happen after the initial commitment, it's because the founder backed out"

Shark Tank India 3: Anupam Mittal explains what happens after an entrepreneur strikes a deal on the show, says “If a deal does not happen after the initial commitment, it’s because the founder backed out”

There has been much discussion about the legitimacy of Shark Tank India. Some entrepreneurs claim that despite making deals on the show, they haven’t gotten any funding. Shark Tank India’s judges have promised investors about ₹120 crore in the last two seasons. However, Anupam Mittal, the founder and CEO of Shaadi.com, has stepped forward to clarify the paperwork required before the monies can be released.

Shark Tank India provides a platform for Indian startups and entrepreneurs to pitch their ideas and receive funding for their businesses. Recently, the reality show has come under fire for failing to deliver the promised investment amounts to the businesses shown on broadcast. The data shows that 40% of Season 1 deals were finalized within a year, with an initial commitment of ₹40 crore culminating in ₹17 crore of investments (excluding debt). Anupam Mittal justifies the approach by noting that the implementation duration might range from one month to more than a year, depending on the company’s readiness.

Anupam further addressed the concerns of the entrepreneurs, “Those guys didn’t even have a company formed. And the ROC website was down for three months. My team was helping them and trying to find other ways…going directly to the registrar company…but for three months it was impossible to register a new company.”

Anupam explained while having a conversation with a news portal on how the deals further continue outside Shark Tank India. He shared that not all deals continue on a positive note, “90% of the time…if a deal does not happen after the initial commitment…it’s because the founder backed out because they think they got a better valuation outside. Let’s say we commit to 20 deals and 10 go through. Out of the 10 that did not go through at least seven or eight will be cases where the founder has backed out. And you’ll have two or three instances where the claims were not correct or the requisite conditions were not met.”Shark Tank India season 3 focuses on displaying the finest of the best. Mittal underscores the importance of “real authenticity” while highlighting the amazing founders and investments represented this season. So he says, “As always, you know how much ever there is funding winter out there, it’s always summer on the tank, you will see a lot of good, wholesome investments.”

Shark Tank India Season 3 featured an eminent investors panel of 12 judges, including Mittal, Aman Gupta, Amit Jain, Namita Thapar, Peyush Bansal, and Vineet Singh.

For more news like this visit TOI. Get all the Latest News, City News, India News, Business News, and Sports News. For Entertainment News, TV News, and Lifestyle Tips visit Etimes