Former BharatPe Co-founder Ashneer Grover, who was a judge in first season of Shark Tank India has revealed that he invested Rs 2.95 crores in 11 details on the show.
Taking to Twitter, Grover said that this makes him the second highest investor, only after Namita Thapar, Executive Director of Emcure Pharmaceuticals, who was the highest both in terms of absolute and % closure.
"No surprises - Namita is a great pay master ! Both Namita and I are the top 2 in terms of absolute, % deals completed and % commitment invested," the founder of Third Unicorn tweeted.
Read Ashneer Grover's Tweet
I, Ashneer Grover, invested ₹2.95 crores | 11 deals in Shark Tank Season 1.
July 19, 2023
This makes me second highest deployer, only after @namitathapar who was highest both in terms of absolute and % closure. No surprises - Namita is a great pay master ! Both Namita and I are the top 2 in… pic.twitter.com/Ot16kHOrpcIn the same tweet, Ashneer Grover hit out at two media publications for publishing "incorrect and invalidated stories" on Shark Tank Season 1.
"No surprises how blatantly wrong they were - ‘press is opposite of maths'. Putting my investments by date in public - what Shark Tank should've done in the first place," the tweet said.
Grover reacted after media outlets published a report by PrivateCircle Research, a private market intelligence company which stated that the sharks (investors) completed only 27 of the 65 soft commitments that they had agreed to deploy in startups on the show. The report claimed that Grover invested Rs 1.99 crore after committing to invest Rs 5.54 crore.
Aman Gupta on Funding Controversy
Meanwhile, Shark Tank India judge and boAt co-founder Aman Gupta asserted that due diligence is and will continue to be an integral part of funding startups amid the controversy and allegations of delayed funding even after deals are struck on the show.
Gupta said it is important for people to understand that there will not be quick money and that proper procedures and checks will be followed before actual funding.
'If someone thinks it's easy money…that rich businessmen are cutting cheques, this was a misconception that has been cleared,' Gupta told PTI in an interview.
He said that he and other 'sharks' earned their money through hard work and grit, and asserted that proper procedures of checks will be followed.
'We have earned the money with hard work and we will not just give our money without due diligence,' Gupta said.
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