Lenskart CEO Peyush Bansal Invests Rs. 2.5 Crore in WeHear
This ongoing new season of Shark Tank India Season 3 is getting the attention of pan India because of its intriguing entrepreneurs and Sharks. Recently, two young entrepreneurs from Ahmedabad snatched the attention of the sharks.
Kanishka Patel and Raj Shah, Co-founders of WeHear, presented their product, which is an affordable hearing aid technology. They were seeking a hefty sum of Rs 2.5 crore for a mere 1% equity. Despite the sharks' initial impression of the product's potential, the sharks started a series of concerns and negotiations, highlighting the rigorous scrutiny ideas undergo on the show.
Though the sharks were quite impressed but they were concerned about the valuation and the background of WeHear's funding.
Shark Anupam Mittal who is known for his perfect critical analysis and explanation, said that, they valuation looks very fishy. The sentiment of skepticism wasn't isolated, as other sharks like Vineeta Singh and Aman Gupta also voiced their concerns over the asking price, deeming it too high for a feasible return on investment.
On the other hand, Peyush Bansal, co-founder and CEO of Lenskart, saw immense potential in their product . While other sharks backed out from their decision of investment, he proceeded further with his offer.
He offered Rs. 2.5 crore for a 2.5% equity stake, of which 1.5% would be advisory equity, challenging the entrepreneurs to value him not just as a financier but as an advisor and stakeholder in the company.
Amidst the tough situation of question and answer session, Kanishka and Raj, managed to secure a deal with Bansal. The pitchers agreed to his terms and assured Bansal of giving good returns and commitment to make India a focal point in their business strategy.
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Kanishka Patel and Raj Shah, Co-founders of WeHear, presented their product, which is an affordable hearing aid technology. They were seeking a hefty sum of Rs 2.5 crore for a mere 1% equity. Despite the sharks' initial impression of the product's potential, the sharks started a series of concerns and negotiations, highlighting the rigorous scrutiny ideas undergo on the show.
Though the sharks were quite impressed but they were concerned about the valuation and the background of WeHear's funding.
Shark Anupam Mittal who is known for his perfect critical analysis and explanation, said that, they valuation looks very fishy. The sentiment of skepticism wasn't isolated, as other sharks like Vineeta Singh and Aman Gupta also voiced their concerns over the asking price, deeming it too high for a feasible return on investment.
On the other hand, Peyush Bansal, co-founder and CEO of Lenskart, saw immense potential in their product . While other sharks backed out from their decision of investment, he proceeded further with his offer.
He offered Rs. 2.5 crore for a 2.5% equity stake, of which 1.5% would be advisory equity, challenging the entrepreneurs to value him not just as a financier but as an advisor and stakeholder in the company.
Amidst the tough situation of question and answer session, Kanishka and Raj, managed to secure a deal with Bansal. The pitchers agreed to his terms and assured Bansal of giving good returns and commitment to make India a focal point in their business strategy.
