7 months ago
Nootie founders bag Shark Tank deal
The founders of Nootie, a pet food brand, appeared on Shark Tank India 5 and got emotional during their pitch.
They impressed the Sharks, especially with their gesture for stray dogs.
They secured a deal with Namita Thapar and Anupam Mittal, receiving Rs 1 crore for 4% equity and another Rs 1 crore in royalties.
After the show, they saw a 2.5x jump in sales and gained recognition.
Akshay Mahendru, one of the founders, shared that the experience was exciting and fulfilling.
They appreciate the support and expertise from their investors, which makes them feel secure about the brand's future.
Nootie founders appeared on Shark Tank India 5 and secured a deal with Namita Thapar and Anupam Mittal.
They received Rs 1 crore for 4% equity and Rs 1 crore in royalties until recoupment.
Akshay Mahendru, a founder, got emotional during the pitch but impressed the Sharks with their gesture for stray dogs.
The brand saw a 2.5x jump in sales and increased recognition after the show.
Akshay expressed gratitude for the investors' support and expertise, which makes them feel secure about the brand's future.
- Who
- Nootie founders (Akshay Mahendru, his brother, and father)
- What
- Bagged a deal on Shark Tank India 5
- Where
- On Shark Tank India 5
- When
- A few weeks ago (specific date not mentioned)
- Why
- To secure investment and grow their pet food brand
Key facts
- Founders
- Akshay Mahendru, his brother, and father
- Investors
- Namita Thapar and Anupam Mittal
- Investment Amount
- Rs 1 crore
- Equity Percentage
- 4%
- Royalty Deal
- Rs 1 crore until recoupment
- Sales Jump
- 2.5x increase in call-outs
- Show
- Shark Tank India 5
- Air Time
- Every Monday-Friday at 10 pm on Sony TV and SonyLiv
Quotes
Akshay Mahendru
Founder of Nootie, a pet food brand
“See, it’s their hard-earned money; Kunal is a VC, his way of thinking might be different from others. For me, when it comes to a royalty deal, we are at a stage where we are profitable, and we could afford to do that. Their association makes me feel secure, and makes the brand go from what it is right now to 10x or 20x in the long term. Royalty will not genuinely matter to us in the future, because both Anupam and Namita can open a lot of avenues and doors for us that we would have to knock on 100 times otherwise. The kind of expertise they bring in should not come in the way of royalty; that was the only reason we took the deal. All these things would matter to a company that is making losses or burning money, but for us, that’s not the case; we are profitable.”
indianexpress.com
“It all depends on how you perceive a match-off. When you build something, you will always be compared, whether on TV or otherwise. You are always being judged against your competitors. I don’t take it negatively. With this, we got to understand our issues in comparison to a business that has just started and is doing well. We were pointed out on our branding, so it’s always good to learn from people who are doing well. How will a founder learn if he is not open to feedback and comparisons? So I took the match off in a very good spirit. We can replicate something good they are doing, and they can do the same.”
indianexpress.com
