'Wish you a lot of struggle': Anupam Mittal tells pitcher on Shark Tank India

Glow Glossary, a wellness brand specialising in matcha-based products, made a pitch on Shark Tank India seeking Rs 60 lakh for 4% equity, valuing the company at Rs 15 crore. However, the founders, Pratishtha and Kavya, walked away without an investment as the sharks found their business lacking clarity and structure.

During the pitch, Shaadi.com founder and shark Anupam Mittal even gave a blunt critique of the entrepreneurs, particularly addressing Pratishtha’s lack of business knowledge and confidence. Expressing his views candidly, he stated, “I wish you a lot of struggle,” emphasizing that hardships are crucial for growth and learning in the entrepreneurial journey.

Mittal's comment came after he and other sharks raised concerns over Glow Glossary’s scalability and the founders’ limited industry experience. The brand, which sources its matcha from Japan, aimed for a revenue of Rs 1.5 crore in its first year with a 45% profit margin. However, the investors were unconvinced by the ambitious projections, citing a lack of concrete financial strategy.

Another major concern was Pratishtha’s background. While she claimed her love for matcha developed during her six-year stay in New York, she admitted never having visited Japan, where their matcha is sourced. Kunal Bahl questioned, “Then how do you source the powder?” to which Kavya explained that a Japanese friend manages the supply chain. Bahl acknowledged the quality of their matcha but criticized their other products as “ordinary.”

Mittal wasn’t alone in voicing skepticism. Vineeta Singh acknowledged the financial figures but deemed the venture “not investable at this stage,” citing the need for a clearer strategy. 

Mittal further pressed Pratishtha on her work experience, asking, “Have you had a job before?” Her negative response prompted his pointed remark, “I thought so.”

The founders envisioned Glow Glossary as a Rs 300 crore enterprise with clients like Fig in Delhi and Soho House in Mumbai. However, the lack of a refined business plan and industry experience deterred the investors from backing the venture.