Delhi University students get an investment in a shark tank
Graduated student of Hansraj College, Mr. Gaurang Gadia, Economic Hons batch 2023, and Mr. Avik Chaudhary, student of Hindu College batch 2023, pitched on the stage of the shark tank.
Shark Tank is a TV show run on the popular TV channel Sony TV. The show is recognized for giving entrepreneurs a platform to promote their startups and get investment by pitching their brand in front of sharks. The show is in its third season. For the entrepreneur now it become a great platform.
Mr. Gaurang Gadia and Mr. Avik Chaudhary pitched their brand FOMO in front of the five well-known sharks: Amit Jain (CEO of Car Dekho), Ritesh Aggarwal (CEO of OYO), Namita Thapar (E.D. of Emcure), Anupam Mittal (founder of Shaadi.com), and Aman Gupta (CEO of Boat).
FOMO is the brewed Iced tea. It is an alternative to refined sugar iced tea with zero sugar and less sugar than Coca-Cola. Two 21-year-old youngsters sparked a bidding war. The pitch impressed every shark. Every shark became a fan of their enthusiasm and passion. They asked for 35 Lakh as an investment in exchange for the 4% equity of their company, FOMO.
Ritesh and Namita offer a 6% company exchange of 35Lakh. A similar offer was made by Anupam Mittal to Aman Gupta and by Amit Jain. The deal is closed with Anupam, with an investment of 35 lakh in exchange for 6%.
Gaurang and Avik started their brand in their third year of college. They went to different DU colleges to promote their brand during their college days. They also expand their brand in the milk-based supplement market, but the shark Anupam contradicts this.
Many young people, like Gaurang and Avik, invested in the shark tank and contributed to “Startup India,” an initiative to promote entrepreneurship and create a startup ecosystem in India launched by the government in 2016.
