Shark Tank India 4: Reyansh upsets sharks by not bringing the actual demo piece of his Memo Tag; Vineeta Singh says, 'One of the most disappointing pitches in Campus special' | – The Times of India
The latest episode of Shark Tank India 4 brings yet another Campus special. This episode had no deals despite some interesting pitches. The second pitcher of the day was Reyansh Juneja. His inspiration behind the business is his grandfather who is suffering from Dementia. MemoTag is a device that helps in Dementia caregiving. The features of his device are GPS tracking, Geo-Fencing, Fall Detection and Vocalized reminders. The AI tools also help in predicting the patient’s health status through their voice. His ask is Rs 50 Lakhs for 5% equity.
The sharks begin with their questions and ask him about his first startup and family background. Anupam then asks Reyansh whether he is a drama student, as he pitches confidently with strong articulation. Reyansh reveals that he has been practising since morning for the pitch. As they dive further into the pitch, Reyansh shows the packaging and prototype. Reyansh’s explanation about the product left all the sharks impressed at first and they were keen to see how the product actually works. Vineeta asks for a demo and Reyansh refuses, he reveals that due to wifi issues, he won’t be able to show the demo.
Kunal then asks what is actually working in the prototype that he has handed them and Reyansh reveals that the features are yet to be added. Vineeta keeps pushing that she wants to see at least one feature. Reyansh reveals that he didn’t bring the application to the tank. Anupam says, ‘Reyansh ke siva kuch nahi chal raha hai.’ Vineeta gets agitated listening to Reyansh. Kunal asks how would he launch it if things aren’t ready.
While Reyansh talks about numbers, Anupam says that his numbers aren’t right. Reyansh then reveals that they are focusing on software and not hardware which leaves the sharks in shock. When Kunal asks about the number of transmitters the product will have, Reyansh fails to answer. Further after understanding the branding, and the business model, Vineeta opts out. She says, “One of the most disappointing pitches in Campus special. The fact that your product is zero, you kept making stories to cover up your product. It makes it very difficult for us to trust you.” Namita also opts out and suggests that he must show an actual customer journey.
Anupam, Kunal and Ritesh also opt out and ask Reyansh to actually work on his business.
