A pair of younger entrepreneurs walked onto the Shark Tank India 4 stage and left the judges surprised with their daring ask — Rs 1.5 crore for simply 0.5% fairness, valuing their firm, Fitelo, at a staggering Rs 300 crore. The audacity of the valuation led Anupam Mittal to quip, “Your valuation is overweight.”
Mehakdeep Singh and Sahil Bansal, the founders of Fitelo, shared that their struggles with weight reduction led them to create a wellness app designed to deal with not simply weight-reduction plan and train but additionally the psychological features of weight administration. Whereas Anupam acknowledged this as a key differentiator, he identified that the mannequin bore similarities to rivals like HealthifyMe.
The founders revealed that they’d been rejected within the first two seasons of Shark Tank India, when their turnover was Rs 1 crore and Rs 4 crore, respectively. Now, with a projected income of Rs 100 crore, they returned with a stronger pitch. “There needs to be one thing magical about your app,” Vineeta Singh remarked, impressed by their consumer retention price.
Kunal Bahl referred to this because the “smile curve,” an indication that clients discovered worth within the product. Nonetheless, he, Anupam Mittal, and Ritesh Agarwal selected to go, believing the enterprise was poised for adjustments within the coming 12 months. However Vineeta noticed potential and made a proposal — at a considerably decrease valuation of Rs 75 crore.
The pitch took an emotional flip when Namita Thapar and Kunal Bahl shared their very own experiences with physique shaming. Namita recalled being known as ‘moti’ as a toddler, whereas Kunal opened up about his wrestle with weight, revealing that at 17, he weighed 112 kgs and was typically mocked. “Folks did not name me by my identify, they known as me ‘mota’. Those that have not confronted this gained’t perceive how humiliating it’s,” he shared.
Moved by Fitelo’s deal with psychological help, Namita proposed that they might increase into dietary supplements. She determined to staff up with Vineeta, and collectively they supplied Rs 1.5 crore at a Rs 150 crore valuation, together with a royalty. The founders accepted, securing a deal that, whereas decrease than their preliminary ask, was nonetheless a major win.
