Shark Tank India has been a game-changer for many entrepreneurs, but Season 4 witnessed history being made when Ashutosh Kumar, the founder of Offmint, returned to the show
Shark Tank India has been a game-changer for many entrepreneurs, but Season 4 witnessed history being made when Ashutosh Kumar, the founder of Offmint, returned to the show as its first-ever repeat pitcher. His unique proposal—a mere Rs 10 in exchange for 1% equity—left the Sharks stunned. What followed was an emotional rollercoaster that resulted in a five-Shark deal, proving the power of resilience, vision, and the right mentorship.
Ashutosh Kumar first appeared on Shark Tank India Season 2 with a different startup but left without securing a deal. While many entrepreneurs might have moved on, Ashutosh took the feedback from the Sharks to heart, refining his business approach and returning stronger. However, his second attempt at pitching carried immense emotional weight—his father had passed away on the very day he first appeared on Shark Tank India.
When Anupam Mittal asked him about his journey, Ashutosh opened up about this deeply personal tragedy, calling it the toughest moment of his life. “It was my breaking point,” he admitted. Yet, rather than succumbing to grief, he used it as motivation to push forward, ensuring his family’s well-being and strengthening his entrepreneurial resolve. His story resonated with the Sharks, with Aman Gupta admitting, “I got goosebumps hearing his story.”
Returning to Shark Tank India 4, Ashutosh introduced Offmint, a sustainable fast-fashion brand dedicated to reducing waste in the clothing industry. The brand focuses on eco-conscious apparel and includes a unique touch—every customer receives a pen embedded with plant seeds, reinforcing Offmint’s commitment to sustainability.
Despite having secured an investment of Rs 5 crore from Rani Ahluwalia, a Shark Tank India fan from London who believed in his vision, Ashutosh wasn’t looking for funding this time. Instead, he sought the guidance and mentorship of the Sharks, calling it his “Guru Dakshina.”
In a move that left everyone in the room astonished, Ashutosh pitched an offer that had never been seen before on Shark Tank India—Rs 10 in exchange for 1% equity. While the monetary value was insignificant, it was a symbolic gesture, reinforcing that his real ask was the Sharks’ strategic expertise rather than financial backing.
Namita Thapar was the first to express support, immediately showing interest in a deal. However, Anupam Mittal raised crucial questions regarding Offmint’s unique selling proposition (USP) and sales figures. Transparency was key, and Ashutosh had the answers ready. He shared details about Offmint’s business model, revenue, and how he plans to scale the venture with the right mentorship.
After deliberation, the Sharks collectively made a counteroffer—Rs 10 lakh for 4% equity, ensuring that their expertise would be backed by some level of investment. Ashutosh, recognizing the immense value of having all five Sharks onboard, immediately accepted the deal. This meant he had secured the backing of:
Anupam Mittal (Founder, Shaadi.com)
Aman Gupta (Co-founder, boAt)
Vineeta Singh (CEO, Sugar Cosmetics)
Peyush Bansal (Founder, Lenskart)
Namita Thapar (Executive Director, Emcure Pharmaceuticals)
With this powerhouse team behind him, Ashutosh’s journey with Offmint is set to accelerate at an unprecedented pace.
Ashutosh Kumar’s story is a testament to the power of perseverance. His return to Shark Tank India 4 not only marked a historic moment as the show’s first repeat pitcher but also underscored how failure, when leveraged correctly, can pave the way for success.
His approach to seeking mentorship over monetary investment is a lesson for aspiring entrepreneurs. While funding is crucial, the right guidance and strategic direction can often be even more valuable. Offmint’s commitment to sustainability also aligns with the growing demand for eco-friendly fashion in India, making it a venture with significant potential.
As Offmint embarks on its journey with the backing of five seasoned investors, it will be interesting to see how Ashutosh and his team navigate the competitive fast-fashion market while staying true to their vision of sustainability.
Source: Businesstoday.in
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