The founders of the Nootie pet food brand founder, who appeared on Shark Tank India 5 A few weeks ago, we witnessed the emotions running high during their presentation. While one of the founders, Akshay Mahendru, got emotional while fumbling the ball during the toss, his gesture towards the stray dogs left the Sharks quite impressed. Finally, Akshay, his brother and his father managed to reach an agreement with Namita Thapar and Anupam Mittal. They received an investment of Rs 1 million for 4 percent equity and Rs 1 million in royalties until they get their money back. Recalling his experience on Shark Tank India 5, Akshay Mahendru spoke to SCREEN about the growth they witnessed after appearing on the show. He also praised Namita and Anupam for taking care of them.
Talking about his experience with Shark Tank India 5, Akshay said, “The experience was very enjoyable and exciting. I have been in this industry for a long time and Shark Tank is like the epitome of achieving something in life. Being in front of the Sharks and the entire country, showing your business, your character, everyone has their eyes on it. They judge you on who you are and what you have built. There was a bit of pressure, but in a good way.”
Recalling the moment when he got emotional, Akshay added, “I felt a little overwhelmed because there were a lot of things piling up in my head. We have been trying this for the last 4 years. When it finally happened, I was prepared to face a lot of questions, and that happened. Everything worked out well and we got the deal.”
“They always judge you against your competitors”
Akshay’s brand Nootie took on another brand called Smylo that catered to the same category. When asked if being a face-off on the show has its downsides, Akshay said, “It all depends on how you perceive a face-off. When you build something, you will always be compared, whether on TV or otherwise. You are always judged against your competitors. I don’t take it as a negative thing. With this, we were able to understand our problems compared to a business that has just started and is doing well. Our brand was pointed out to us, so it is always good to learn from people who are doing well. How “Will a founder learn if he is not open to comments and comparisons? So I started the game in good spirits. We can replicate something good that they are doing and they can do the same.”
‘We immediately saw a 2.5x jump’
The Shark Tank India experience turned out to be quite satisfying for the founders of Nootie. Sharing how they got recognition after the episode, Akshay also said how their business saw growth. “People now started to recognize us. I was traveling to Bengaluru recently and people recognized me; identify the brand. Many eyes approach us. Right now we can’t talk about numbers, but everything is happening as we imagine. There has been a positive impact on sales; We immediately saw a 2.5x increase in our calls. Since the first week after the show, my team has been working tirelessly to absorb the pressure that has arisen.”
‘Namita and Anupam’s association makes us feel safe’
Akshay has been grateful for reaching an agreement with Namita and Anupam. Sharing how due diligence is continuing, Akshay revealed that he is yet to meet Anupam and Namita. Appreciating them further, he said, “We are yet to meet Namita and Anupam; we are connected on WhatsApp and due diligence is being done. These guys are very well connected and are looking after us in one way or the other. And not just us, everyone who got an offer from them is being looked after. As founders, we are getting the experience we asked for and now we feel like there is a shadow behind us that is looking out for us.”
Throughout the season, Kunal Bahl has spoken out against royalty deals. On the show, Kunal has said that he believes royal deals are exploitative for the founders. Having bagged a royalty deal on the show, Akshay shared his opinion on Kunal’s thoughts and said, “Look, it’s his hard-earned money; Kunal is a VC, his way of thinking may be different from others. For me, when it comes to a royalty deal, we are at a stage where we are profitable and can afford to do so. Your association makes me feel confident and takes the brand from what it is now to 10x or 20x in the long run.” term. Royalty will not genuinely matter to us in the future, because both Anupam and Namita can open many avenues and doors for us that we would otherwise have to knock on 100 times. The kind of experience they bring should not come in the way of royalty;
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Shark Tank India 5 airs on Sony TV and SonyLiv every Monday to Friday at 10 pm