Shark Tank India S4: Anupam Mittal And Namita Thapar Shocked At Pitcher’s Resemblance To Ashneer Grover
In the latest episode of Shark Tank India season 4, founders of Chandigarh-based skateboarding startup Skate Supply India. The startup supplies all kinds of skateboards from multiple global brands and streetwear to twin the sport’s vibe.
The company’s founders sought an investment of Rs 50 lakh for 2% of equity in the stack at a valuation of Rs 25 crore. Despite a relatively small market in India, the company has pulled off well with annual sales in FY 23-24 at Rs 57 lakh and in FY 24-25, a whopping Rs 85 lakh. Founders Ravinder Singh and Jaspreet Kaur Walia emphasized during their pitch that it was not just about building the brand but a community around skating in India. Skate Supply India holds exclusive rights of distribution for 20 international skateboard brands. The pitchers claimed that the skateboard market could grow up to Rs 50 crore in India.
Sharks on the show were confounded at the revelation that the skating firm was already making profits between Rs 15 and 20 crore from their China-based factory. While the sharks were overall impressed with the venture, no one made a deal.
Meanwhile, sharks, including Namita Thapar and Anupam Mittal, couldnt resist telling co-founder Ravinder how the entrepreneur faintly resembled a former shark. The Skateboard maverick admitted that he has had similar complements earlier.
Skate Supply India is here to bring the skateboarding revolution to India. The sharks appreciated the enthusiasm but questioned the competition, market size, and growth potential. But is it enough?
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Cover: Patrick Gawande / Mashable India
