The founders of pet food brand Nootie experienced a whirlwind of emotions during their recent appearance on Shark Tank India Season 5. Akshay Mahendru, alongside his brother and father, delivered a heartfelt pitch that not only moved the Sharks but also secured them a lucrative investment deal.
An Emotional Pitch That Won Hearts and Investment
During the high-pressure environment of the Shark Tank stage, Akshay Mahendru became visibly emotional while presenting Nootie's business model. His genuine passion for the brand and a touching gesture towards stray dogs deeply impressed the panel of investors. This authentic display culminated in Namita Thapar and Anupam Mittal offering the founders a combined investment of Rs 1 crore for 4 percent equity, along with an additional Rs 1 crore royalty arrangement until their investment is recouped.
Reflecting on the Shark Tank Experience
In an exclusive conversation, Akshay Mahendru described the Shark Tank journey as both exciting and transformative. "The experience was very nice, it was exciting," he shared. "I have been in this industry for a very long time, and Shark Tank is like the epitome of achieving something in life. Being in front of the Sharks and the entire country, showing your business, your character, everyone has eyes on it."
He acknowledged the inherent pressure of the situation but viewed it positively. "You are getting judged for who you are and what you've built. There was a little pressure, but in a good way." Regarding his emotional moment on camera, Akshay explained, "I got a little overwhelmed because there was a lot of buildup about it in my head. We have been trying for this for the last 4 years. When it finally happened, I was prepared to face a lot of questions, and that happened. Everything went well, and we got the deal."
Navigating a Match-Off Pitch with Competitor Smylo
A unique aspect of Nootie's pitch was its placement in a match-off against another pet brand, Smylo. When questioned about potential disadvantages of this format, Akshay offered a constructive perspective. "It all depends on how you perceive a match-off. When you build something, you will always be compared, whether on TV or otherwise. You are always being judged against your competitors."
He emphasized the learning opportunity this presented. "I don't take it negatively. With this, we got to understand our issues in comparison to a business that has just started and is doing well. We were pointed out on our branding, so it's always good to learn from people who are doing well. How will a founder learn if he is not open to feedback and comparisons? So I took the match off in a very good spirit. We can replicate something good they are doing, and they can do the same."
Immediate Business Impact and Nationwide Recognition
The appearance on Shark Tank India has yielded significant tangible benefits for Nootie. Akshay revealed a substantial boost in sales and brand visibility. "People have now started recognizing us. I was travelling to Bangalore recently, and people recognized me; they identify the brand. A lot of eyeballs are coming our way."
He elaborated on the commercial uplift, stating, "At this point in time, we cannot discuss numbers, but everything is happening the way we imagined. There has been a positive impact on sales; we immediately saw a 2.5x jump in our call-outs. Since the first week after the show, my team has been relentlessly working to soak in the pressure that has come in."
Security and Expertise from Shark Association
Akshay expressed profound gratitude for securing Namita Thapar and Anupam Mittal as investors. While due diligence is ongoing and in-person meetings are pending, he highlighted the immediate value of their association. "We haven't met with Namita and Anupam yet; we are connected on WhatsApp, and due diligence is going on. These guys are so well-connected, and they are looking after us in some way or another. And not just us, everyone who bagged an offer from them they are being looked after."
He described the psychological and strategic support, noting, "As a founder, we are getting the expertise we asked for, and we now feel like there is a shadow behind us who is looking out for us. Their association makes me feel secure, and makes the brand go from what it is right now to 10x or 20x in the long term."
Addressing the Royalty Deal Debate
The royalty component of Nootie's deal sparked discussion, especially given investor Kunal Bahl's vocal criticism of such arrangements on the show. Akshay provided his rationale for accepting the terms. "See, it's their hard-earned money; Kunal is a VC, his way of thinking might be different from others. For me, when it comes to a royalty deal, we are at a stage where we are profitable, and we could afford to do that."
He framed the royalty as an investment in growth and access. "Royalty will not genuinely matter to us in the future, because both Anupam and Namita can open a lot of avenues and doors for us that we would have to knock on 100 times otherwise. The kind of expertise they bring in should not come in the way of royalty; that was the only reason we took the deal. All these things would matter to a company that is making losses or burning money, but for us, that's not the case; we are profitable."
The Nootie founders' journey on Shark Tank India Season 5 exemplifies how a combination of emotional authenticity, business acumen, and strategic partnership can catalyze remarkable growth for a brand in the competitive Indian market.
