Last Updated:
The younger enterprise proprietor introduced Memotag, a caregiving choice motivated by his grandpa’s battle with psychological deterioration.
Instead of a sensible mannequin, Reyansh offered the Sharks with a tag that actually didn’t operate. (Photo Credits: You Tube)
Some pitches make waves and a few sink onShark Tank India For 18-year-old Reyansh, his probability at thrilling the Sharks turned a lesson in harsh sincerity. The younger enterprise proprietor introduced Memotag, a caregiving choice motivated by his grandpa’s battle with psychological deterioration. His imaginative and prescient? A intelligent tag that may observe practices patterns, sharp relative in occasion of an autumn and likewise produce geo-fencing to keep away from purchasers from straying. In idea, it was a game-changing idea– one which he thought deserved Rs 10 crore, requesting for Rs 50 lakh for five% fairness.
But proper right here’s the place factors deviated. Instead of a sensible mannequin, Reyansh offered the Sharks with a vacant field and a tag that, properly … actually didn’t actually operate. He confessed the merchandise was nonetheless within the concept section and couldn’t be proven. The Sharks’ preliminary inquisitiveness swiftly remodeled to dissatisfaction.
Anupam Mittal, understood for his sharp wit, couldn’t help stating, “The just point functioning is Reyansh.” Meanwhile, Namita Thapar, often receptive to healthcare improvements, suggested him to refine the product earlier than searching for funding. Reyansh tried to salvage his pitch by claiming orders price Rs 5 crore, however Anupam wasn’t shopping for it.
A fast probe revealed that no cash had really exchanged arms. “That’s not how it works,” Anupam defined, previous to offering a tricky truth. “I assume your largest trouble is the technique that you have actually taken. You claimed that your item can do whatever, that isn’t the course to interruption, that’s the course to a sluggish and excruciating fatality. I do not want that upon you. But I’m out,” he mentioned.
As Kunal Bahl and Ritesh Agarwal additionally declined to take a position, urging Reyansh to be extra ready, it was Vineeta Singh who delivered essentially the most stinging critique. Despite his younger age, she didn’t sugarcoat her suggestions.
“I’ve seen seven or eight campus pitches, but I’m sorry to say, this was the most disappointing. The fact that your product is at zero, and you’re cooking up so many stories around it to cover it up, makes it very difficult to trust you as a founder. You’ve made a beautiful box with great branding, but it doesn’t have a product inside. It’s a big no,” she claimed.
The bottle, Reyansh, left with out a proposal, nonetheless with a tough reality verify from the sharks slightly on the latest episode.
