- Founders: Pankaj Khabiya & Bharat Tanka
- Business: Vegan Products
- Ask: ₹15 Lakhs for 5% Equity
- Valuation/ Networth: ₹3 Crores
- Funding: No Deal
- Sharks: No Deal
- Episode: Season 1 Episode 19
Ethik Shark Tank India Pitch:
Ethik is India’s premium Non-Leather brand which makes high-quality products with the help of science and technology. All their products are Vegan. The company started in 2012 and its vision is to become a market leader in this category. They wanted to raise an investment of ₹15 Lakhs for 5% of the company giving them a valuation of ₹3 Crores.
Ethik’s pair of shoes costs around ₹4,500. Their total revenue between 2013-2019 was at ₹80 Lakhs. Bharat joined in 2018 and they made a total of ₹25 Lakhs since then till their pitch.
Ethik Shark Tank India Negotiations & Funding:
Ashneer was the first shark to go out citing there is no business here. He suggests entrepreneurs to stop this venture and work on something else. Peyush didn’t like the founder’s chemistry and thought the product was overpriced hence he went out.
Namita commented that there is no purpose-driven market in India and the founders will have trouble scaling in this. Aman was interested in the brand but didn’t like the rigidity in the founders therefore he goes out as well. Anupam had similar concerns consequently he goes out as well. Ethik went out of the tank without a deal.
Who are the founders of Ethik?
Pankaj Khabiya & Bharat Tanka founded Ethik. Pankaj is 34 year old at the time of pitch and Bharat is 31 year old. They are based in Banglore. Bharat has worked in advertising in the past and joined the company in 2018. He also has 65% ownership in the company.
How is Ethik doing After Shark Tank India?
Our research in the Ethik revealed that even though they did not get a deal on Shark Tank, their appearance on the show has a positive impact on the business. The founder shared that they were not prepared for the response they got after they were aired.
He added that they only had 4 days’ notice for preparation so there wasn’t much they could do anyway. After their feature, their website crashed 5 times. they had over 1 lakh visitors in just a few days from their feature and their site crashed multiple times during that time.
As of May 2024, The company is still in business and thriving. You can check out their products through their website or by clicking the Amazon button below!
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Here is an update on other companies from Season 1 Episode 19.