Shark Tank India 3: Smart Bag takes Aman Gupta, Vineeta Singh for a ride, Anupam Mittal makes a deal with a twist, watch

Shark Tank India 3: A revolutionary technology with a smart bag company makes a deal with Anupam Mittal only on THIS condition. Watch.

Shark tank India 3: The popular business show Shark Tank India Season 3 has seen some of the futuristic innovations that remained undiscovered, and once again the pitchers brought a product packed with technology. In one of the episodes of Shark Tank India, the judges were shocked to see the kind of technology the throwers had brought with them. A smart luggage company shocked the ‘Sharks’ with their revolutionary smart luggage. It’s worth noting that the smart luggage company managed to strike a deal with Shark Anupam Mittal. Read through.

Anupam Mittal Vineeta Singh Get a ride on smart luggage watch

While the pitchers were busy talking about their business, Shark Aman Gupta tested their technology of riding on the smart luggage. Yes! That’s right, the smart luggage not only has cool features but is also one of the most important parts of the luggage by riding on it with navigation technology known as ‘follow me technology’. One important thing the pitcher mentioned was that their technology was supported by the Ministry of Electronics and Information Technology (MeitY).

The pitchers not only specified their flagship product but also focused on their essential products such as smart wallets with navigation technology, handbags with cameras and bags with fingerprint technology. After showcasing their premium product range, the company pitched the deal of Rs 45 lakhs in exchange for 1.5 percent equity, at a valuation of Rs 30 crore.

Sharks go crazy during Smart Bag Company’s annual sale

After trying out and testing the product, Sharks took a quick look at their annual sales and was shocked. The pitcher stated that in the year 20-21 they achieved a turnover of Rs 75 lakh, in 21-22 the company achieved a turnover of Rs 1.57 crore, in 22-23 it generated a turnover of 3.6 crores, and in 23-24, the company has orders worth Rs 5 crore.

Take a look at the Shark Tank India season 3 episode:

All the sharks leave the country except Anupam Mittal. Here’s why

Shark Aman Gupta suggested that the pitchers should update their technology as they can be quickly outpaced in terms of technology. This was Aman’s main concern. Vineeta Singh also walks out of the deal due to the complexity of the product, making it difficult for consumers to understand. Shark Radhika Gupta also advises the pitchers to stick to one product as their best-selling product is yet to be chosen. The company could narrow down and focus on one product initially, stating that Radhika declined to offer a deal.

Anupam, on the other hand, criticized the pitchers for making their product too complex for consumers. He suggested that they not only look at technology but also focus on quality and branding.

Anupam Mittal offers a deal to SmartBagage Company, but only on this condition

While the other Sharks rejected the offer due to multiple reasons, Shark Anupam was hesitant to invest his money in this company. He stated that the pitchers have proven to double their turnover every year and that is a positive sign. Anupam is offering a deal of Rs 15 lakh in exchange for one per cent equity, adding Rs 30 lakh as debt at 18 per cent interest for two years. Later, the pitchers come up with a counter offer of Rs 20 lakh in exchange for one percent equity and Rs 25 lakh as debt with the same interest rate. However, Anupam Mittal has set a condition that he will only invest if the company signs a deal in Dubai. By agreeing to Anupam’s terms and conditions, the company is finally closing a deal with Shark Tank India.

What do you think of the smart luggage company? Do you think this technology can revolutionize the company?