Recently, the jewellery brand PALMONAS has raised 1.26 crore for a 1% equity stake in Shark Tank India Season 4. The brand onboard actor Shraddha Kapoor as a co-founder in 2023 and plans to use funds to expand it offline and grow internationally. It secures investment from Namita Thapar, Executive Director of Emcure Pharmaceuticals, and Ritesh Agarwal, Founder of OYO. The deal values PALMONAS at ₹126 crore, Vineeta Singh Call out Shraddha Kapoor. In pitch, the founders revealed the Shraddha Kapoor holds a 21% stake in the company.
Vineeta Singh Call out Shraddha Kapoor
In the pitch, Pallavi Mohadikar shared that PALMONAS expects to generate revenues of 35 crore this year. It already raised to 6 crores in the angel round and maintains a 126 crore valuation.
Investor Aman Gupta was skeptical, and state that he not match that valuation but made offer at 20 crore. Instead it, she offered valuation to the founders but asked 1% in royalties, on which Pallavi not agree.
Kunal Bahl questioned on PALMONAS’
Kunal Bahl questioned the PALMONAS brand as a “lifetime warranty” claim, but it was not correct. There is no lifetime warranty. When clients know that they have get wrong information, will not they hurt? Asked Vineeta Singh
While Vineeta Singh Call out Shraddha Kapoor, and pointed out that if customers buy something for ₹3,000 but only gets ₹400 store voucher years later, then it affects their trust. With Kunal and Vineeta out, Ritesh Agarwal stepped in to partner with Namita. The founders of the brand take time to consult, but Kunal advised Namita to drop royalty demand and says, ” You will make 10 times your money easily, don’t rely on royalties.”
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