- Founders: Saurabh Tokas & Oshina Hans
- Business: Handbags
- Ask: ₹75 Lakhs for 5%
- Valuation/ Networth: ₹15 Crores
- Funding: No Deal
- Sharks: No Deal
- Episode: Season 1 Episode 23
Modern Myth Shark Tank India Pitch:
Modern Myth is an Indian Startup started in 2019. They specilizes in cerating stylish bags which comes in all kinds of Shape and Sizes. The founders shared that they started with 4 Karigars in 2019 with only 30 bags catelog. At the time of their pitch, They had over 140 designs and their bags are available through their own website and Amazon. The founders sought an investment of ₹75 Lakhs for 5% of thier company valuing their business at ₹15 Crores.
Modern Myth has a lifetime revenue of ₹2.5 Crores with last month’s sales at ₹14 Lakhs. The company’s founder shared that their main USP is their designs and they have in-house manufacturing. All their bags are made from Vegan Leather.
Modern Myth Shark Tank India Negotiations & Funding:
Aman was the first shark to go out due to him not seeing clarity in founders to build a brand. Anupam felt like the brand is little to early therefore he also goes out of the negotiations. Peyush suggested the founders to focus on their supply chain but he also thought that the business was too early therefore he goes out.
Ashneer didn’t understand the design therefore he stepped out of the deal. Vineeta goes out as well due to not being impressed with the quality of the company’s products.
Who is the founder of Modern Myth?
Saurabh Tokas & Oshina Hans founded Modern Myth. They are both 28 years old and based in Delhi. They have been dating for 15 years. The founders shared the company 50-50.
How is Modern Myth doing after Shark Tank India?
Our research in the Modern Myth revealed that while they did not get a deal on Shark Tank India, their appearance on the show had a positive impact on the business. As of May 2024, the company is still in business and thriving. you can check out their products through their website or Amazon by clicking a button below!
Thank you for supporting the blog as we make small commissions on purchases done through the above link.
Here is an update on other companies from Season 1 Episode 23.
Guardian Gears
Update coming soon!