- Entrepreneurs: Kamlesh Nanasahib Ghumare
- Business: Agriculture Tech
- Ask: ₹30 lakhs for 10% Equity
- Valuation: ₹3 Crore
- Result: ₹10 lakhs for 40% Equity & ₹20 lakhs Debt
- Sharks: Peyush Bansal
Shark Tank India Pitch
In the thrilling world of entrepreneurship, Shark Tank India serves as a launchpad for innovative startups to pitch their ideas to a panel of seasoned investors, or ‘sharks.’ One such entrepreneur who left a lasting impression on the show is Kamlesh Nanasaheb Ghumare, the brains behind KG Agrotech.
KG Agrotech introduced a revolutionary product to the market, a multipurpose bicycle designed to cater to the needs of farmers. This ingenious invention could be used for pesticide spraying, seeding, and even luggage carrying in the fields. Kamlesh’s inspiration for this innovation came from his own experiences as a farmer’s son and engineer. He sought to address the arduous task of carrying heavy pesticide tanks on one’s back while being exposed to harmful chemicals.
Shark Tank Negotiations:
While the sharks were undeniably intrigued by Kamlesh’s innovative bicycle, they did express concerns during negotiations. The primary points of contention included his valuation, scalability, product differentiation, and market size.
In the end, it was Peyush Bansal, the co-founder and CEO of Lenskart, who saw the potential in KG Agrotech. Bansal made an offer that Kamlesh couldn’t refuse – Rs 10 lakh for 40% equity and an additional Rs 20 lakh as a loan with 0% interest. Although the equity offered was higher than what Kamlesh initially sought, he recognized the value of having Bansal as a mentor and partner to guide him in growing his business. Consequently, he enthusiastically accepted Bansal’s offer.
So, what has transpired since KG Agrotech’s successful appearance on Shark Tank India?
How Is Jugadu Kamlesh Doing After Shark Tank?
Firstly, KG Agrotech expanded its product line by launching Bharat K2, a motorized version of the bicycle with spraying capabilities. This expansion allowed the company to cater to a broader range of agricultural needs, further solidifying its position in the market.
Additionally, KG Agrotech set up a manufacturing unit in Nashik, Maharashtra, signaling its commitment to increasing production capacity and meeting rising demand. This strategic move facilitated the wider distribution of their innovative products across India.
In terms of financial success, KG Agrotech’s net worth soared to around Rs 1 crore as of 2023. Meanwhile, the founder, Kamlesh Nanasaheb Ghumare, saw his personal net worth rise to Rs 75 lakh in the same period.
KG Agrotech’s success isn’t limited to its financial achievements. The company has developed a strong online presence with over 2,700 Instagram followers. Moreover, Jugadu Kamlesh, as he is affectionately known, has become a social media sensation with over 50,000 followers on his personal Instagram account. His journey from the fields to the entrepreneurial stage has inspired many, making him a popular figure in the world of agriculture and innovation.
In January 2025, We did another research and found out that the the bicycle project as we know it, is dead. There hasn’t been an update on the project for over a year now and looks like Bharat K2 never went past the prototype stage. Jugadu kamlesh has moved on to promoting other farmer dedicated startups and is a face of Startup culture in rural India. You can check out other Shark Tank Products by clicking the Amazon button below!
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Here are other companies from Season 1 Episode 24:
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