Former CMO of BoAt, Aman Guptahas committed the largest amount of investments in Shark Tank India 5. In the last season, Aman has invested in deals worth Rs 15.3 crore across 10 brands. Being one of the most talked about ‘Sharks’ on the show, Aman faced some criticism on the latest episode of Shark Tank India 5 from a pitcher. During a presentation by the founder of Aabo Rings, Aman took offense after the founders claimed to have a better product than their brand. Vineeta Singh also criticized the bowlers after crossing the line by mocking Aman Gupta many times.
Aabo Rings is a wearable brand that offers stylish health monitoring rings. Its latest version, Aabo Pro, is an AI-powered smart ECG ring. It has more than 30 health tracking parameters and helps monitor and manage health. When founders Nirav and Atul Hemani take the product to the tank, they ask for an investment of Rs 1.5 crore for 1 per cent equity, putting the valuation at Rs 150 crore.
While the rating leaves the Sharks quite surprised, they don’t seem very impressed with the product. After the founders give a demo, Namita Thapar points out how other global brands, especially Oura, are dominating the market. She says: “There are so many companies in this field. Internationally, it’s Oura. I was very fascinated with perimenopause tracking and all the other things. There’s a Fitter Company, Ultra Human, BoAt, and there’s a lot of rings, so why one more?”
The founder explained that the smart ring market is divided into 3 categories. It called its product the Indian version of Oura and says the second category focused on wellness and fitness, placing Ultra Human in this category. He then explained that the third category focused on style, fashion and aspirations, and not pure health. Hearing this, Anupam Mittal asked if BoAt came in 3approx category. The hesitant founder said that only Aman could answer that.
When Anupam Mittal pushed him to share his opinion on BoAt, the founder said, “BoAt’s current ring is for style, fashion and wellness, but I am sure they will bring better models.” Aman Gupta reacted to this with a slow clap and said, “And you claim that your brand is as good as Oura.”
‘Aman Gupta is not a competition’
Later in the speech, Anupam and Vineeta pointed out how other brands have copied Oura’s user interface and some are facing legal cases over it. Anupam also added, “Your ring is just more attractive, with 3-4 new features, all other rings offer the same and that doesn’t change the game. You are late to this game and need a disruptive innovation. So why are you better than others?”
When the founder claimed that its price is lower than competitors who sell the ring for Rs 26,000, Kanika Tekriwal pointed out that its box also has the same price as MRP printed on it. Anupam also highlighted that the professional model is even more expensive, with an MRP of Rs 35,000. Namita also questioned his claim that he has AI technology to track stress and sleep. Furthermore, Kanika criticized the packaging and said, “What are these velvet boxes for Rs 15,000? The paper comes out of the box and the frame was stuck, so I had to take it out of the box. There is nothing new in it that others don’t have.”
Story continues below this ad.
Vineeta quizzed the founder and asked who his competition is in India, wondering if it is Aman’s brand. In response, the founder said: “Aman is not my competition.”
At this point, Aman Gupta decided not to participate in the deal and said, “I didn’t like it when you said that you are a competitor of Oura, and that others are not great, and BoAt is in the third grade. I can also say that we do not maintain your brand even in our competitor tracker, but it does not look good. You said that we only focus on fashion and style, but that is not true. Check the data and you will know where your numbers stand compared to ours. Hamare health parameters bhi acche hai, price bhi acchi hai, it is logical, we sell it for Rs 4,000 to Rs 5,000. It is a small market, so we must respect each other.”
Vineeta asks founder if he was just on Shark Tank to make fun of Aman Gupta
Kanika also decided to opt out of the deal, saying, “In this space, what Aman’s ring does for Rs 4,000 is a sweet spot for me; spending Rs 15,000 is a big deal for most Indians today. It’s also an overcrowded market; there are too many wearables, so I won’t use them, so I’m out.” Namita also added: “You want all your data to be on that device, but once you lose a customer, that person is gone for a very long period of time. That’s a problem. Secondly, AI has become a buzzword; you have entry-level analytics for AI, and you can’t claim to be a high-tech AI device. There’s a lot more going on; given the price, I’m out.”
Later, Vineeta tried to understand his income. The founders revealed that they earned Rs 62 lakh in 2023-24. In 2024-25, their income was 3 crores, and in 2025-26, they have earned 1.7 crores so far, their estimated income was 11 crores. While this baffled Vineeta, the founder revealed that they are launching a crowdfunding campaign in which they will earn revenue of Rs 5 crore. Talking about the market share, the founder said that Aman Gupta is a big player in the field, he turned to Aman and said, “I know you will cover the major market share in this quarter.”
Vineeta then criticized the founder and said, “Focus, do you want an offer or are you here just to make fun of Aman?” He later opted out of the deal and said, “His cap table is all over the place, if he had asked for a valuation of Rs 50 crore, one of us could have taken the bet, but Shark Tank asks karna and assumes he will get a valuation 10 times more on an assumed income, I see a problem in his thinking, that’s why I’m out.”
Story continues below this ad.
After learning that the founders had donated 33 per cent equity for a Rs 5 crore investment, Anupam Mittal also backed out. He said, “I can’t understand what you are doing. I don’t think you have any idea what it takes to compete in this industry. These industries are global and are dominating the market, so you need to focus on excellence in product and marketing, something that is not present in your product at all. The branding is terrible, plus you have already given Rs 5 million for 33 per cent, you have no room to raise capital, your chances of winning are close to zero.”
Shark Tank India 5 airs on SonyLiv and Sony TV from Monday to Friday at 10 pm