'Investors refused to fund Sugar until my husband joined it': Shark Tank India's Vineeta Singh

Shark Tank India judge and Sugar cosmetics CEO Vineeta Singh has revealed that she faced bias as a woman entrepreneur. She shared how once an investor refused to fund her company unless her husband joined it full-time.

In conversation with Bombay Shaving Company's CEO Shantanu Deshpande for his YouTube chat show, The BarberShop with Shantanu, Singh said, "Early on in our journey, we were so desperate for capital... It was so hard for Kaushik (husband) and me to raise funding up to 2018-19 when B2C (business to consumer) became cool."

Vineeta Singh's husband Kaushik Mukherjee is the co-founder and COO at Sugar Cosmetics. "In 2012-13, when Kaushik was still with Mckinsey, I've had an investor say 'We don't invest in solo women founders so, until Kaushik quits Mckinsey and joins full time, we can't give you a check'."

Sugar Cosmetics boss added that when the investor was asked the reason behind his decision, he said that he had once invested in a company run by a woman founder, which didn't end well as the woman let the business fall apart after having a family.

She said, "In my head, I was like 'Wow! Sample size n=1 and you've decided to label our entire gender saying that you'll never invest in women founders and you're openly talking about it'."

The Shark Tank India judge later stated the battles she chose to not fight and mentioned that this was one of them. She said that because the company was in desperate need of funds, she urged her husband to come on board as quickly as possible so the deal works out.

On gender bias, Singh said that she still faces it occasionally. "There are still times that some venture capitalists would shake my husband's hand, but not mine. They would also not make eye contact or ask me any questions, but I make it a point to shake their hands vigorously, make eye contact, and ask them questions," she added.
 

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