Shark Tank India 5 Sees Heated Debate Over Peanut Butter Brand
In a dramatic episode of Shark Tank India season 5, founder Pujan Kachadiya faced intense scrutiny from judge Viraj Bahl. Pujan pitched his peanut butter brand, MYPB, seeking Rs 70 lakhs for a 10 percent equity stake, valuing his company at Rs 7 crores. The product, inspired by an American powdered peanut butter, aimed to offer a healthier alternative in the Indian market.
Viraj Bahl's Harsh Criticism
Viraj Bahl, founder of Veeba, immediately challenged the pitch. He told Pujan, "You are going quite wrong. Why are you doing this work?" Viraj argued that by extracting oils from peanuts, MYPB was removing healthy fats essential for the body. He questioned the founder about selling the extracted oil, stating, "You are selling off the most valuable nutrient from peanuts to someone else. You made the Indian population generic."
Namita Thapar Steps In
Namita Thapar cut off Viraj during the discussion. She expressed interest in learning more about MYPB, noting a potential market for such a product. Her intervention shifted the tone of the pitch, opening the door for further exploration by the other sharks.
Founder's Journey and Sales Figures
Pujan shared his entrepreneurial story, starting the business in 2018 with his brother during the lockdown. They leveraged locally available agricultural produce. After thorough research, they launched a powdered peanut butter in 2023. Sales figures were impressive:
- First year: Net sales of Rs 5.5 lakhs
- Second year: Sales jumped to Rs 81 lakhs
- 2025-26: Rs 60 lakhs by September
The total investment in MYPB was Rs 1 crore, with a positive EBITDA of 8 percent over the past four months.
Sharks Raise Concerns
Vineeta Singh questioned the product's authenticity, pointing out that the packaging claimed "authentic American PB" despite being a Gujarati powder. Varun Dua called this misleading. Viraj opted out, suggesting rebranding the product as a smoothie mix or cooking additive due to its high price. Kunal Bahl also declined, citing ease of replication by competitors.
Deal Finalized with Three Sharks
Vineeta praised Pujan for his honesty, especially in not inflating revenue figures. She offered Rs 70 lakhs for 14 percent equity, valuing MYPB at Rs 5 crores. Namita and Varun proposed a joint deal of Rs 70 lakhs for 20 percent equity, setting a valuation of Rs 3.5 crores. After negotiations, a three-shark deal was closed with Namita, Vineeta, and Varun investing Rs 70 lakhs for 15 percent equity.
This episode contributed to the total investments in Shark Tank India 5, which now stand at Rs 22 crores. The show airs on Sony TV and Sony Liv every Monday to Friday at 10 pm.
