Is PDD Falcon out of business after Shark Tank India?

• Founders: Chirag Visaria & Sneha Visaria
• Business: Stainless Steel Items
• Ask: ₹75 lakhs for 3% Equity
• Valuation/ Networth: ₹25 Crores
• Funding: No Deal
• Sharks: No Deal
• Episode: Season 1 Episode 29

PDD Falcon Shark Tank India Pitch:

PDD Falcon is an Indian startup that focuses on creating products from stainless steel. They use non-toxic, food-safe, and eco-friendly steel to create their innovative and premium-quality products. They have a range of over 300 products, all made from stainless steel, and they manufacture all their products in India. The founders sought an investment of ₹75 lakhs in exchange for 3% of their company, valuing their business at ₹25 Crores.

PDD Falcon closed the last financial year of FY20-21 at ₹2.42 Crores. They also added that they made only ₹10 lakhs in their first financial year of FY18-19, followed by ₹2.72 Crores. They have already made ₹2.42 Crores in FY21-22 till October, and they are projecting to close the year at ₹4.65 Crores. Their top-selling products are sippers, baby products, and vegetable choppers. Their gross margin is at 30%.

PDD Falcon Shark Tank India Negotiations & Funding:

Vineeta was the first Shark to go out due to a lack of margins in the products, which would restrict marketing spending. Anupam shared the same sentiment and goes out. Namita couldn’t find a differentiator in the products; therefore, she goes out of the negotiations. Peyush added that this venture lacked the cool factor; therefore, he goes out of the negotiations as well.

Gazal gives the first offer of ₹30 Lakhs for 10% of the company and the rest as interest at 12%. The founders take a moment to think and come back to the counter at ₹75 lakhs for 6% of the company. Gazal counters that at ₹75 Lakhs for 11% of the company with the condition that the company would make ₹12 Crores or she would get her money back with interest. The founders countered that at 6% again, which Gazal refused, and PDD Falcon walked out of the tank without a deal.

Who are the founders of PDD Falcon?

Husband-wife duo Chirag Visaria & Sneha Visaria founded PDD Falcon. They had a family business of stainless steel, knowledge of which helped them in building this venture.

How is PDD Falcon doing after Shark Tank India?

Our research in the company revealed that despite PDD Falcon not getting a deal on the show, the company still had a positive impact on their brand. The founder shared that through their YouTube channel, they have worked on their branding and packaging, as that was one of the feedback given by Sharks. Sneha added that Shark Tank has given them a brand identity, which they leveraged by expanding pan India.

As of January 2024, The company is still in business and thriving. While the financials of this company are not yet available to the public, we will update this article as soon as more info comes to light. You can check out their products by clicking the button below.

Source: Instagram @pddfalcon

Here is an update on other companies from Season 1 Episode 29.