Shark Tank India Season 4 has officially commenced, generating considerable excitement as audiences anticipate the influx of images and memes associated with the show. The enthusiasm surrounding this season is palpable, with fans keenly awaiting the anticipated drama. Although the initial episodes functioned as a prelude without significant developments, it appears that we are now approaching a phase of heightened excitement. A new venture named Culture Circle, led by Devansh Jain and Ackshay Jain, was introduced to the Sharks in this season. The brand offers an innovative solution tailored for the apparel industry. Continue reading to discover all the details about it.

Culture Circle Shocks The Sharks

The founders elaborated on their application-based platform designed to link users with a premium marketplace for the resale of luxury footwear, handbags, outerwear, and various accessories. They asserted that their venture boasts 250,000 active users and provides globally authenticated genuine products. This assertion piqued the interest of the Sharks; however, the subsequent developments introduced an element of drama. The proprietors of Culture Circle sought an investment of ₹1.2 crore in exchange for 0.5% equity, thereby valuing the company at ₹240 crore.

This figure elicited immediate and intense reactions from the judges, who appeared taken aback. Aman Gupta expressed scepticism regarding the valuation, inquiring, "Are we crazy?" Vineeta Singh, not persuaded by the presentation, dismissed the valuation as "waahiyaat." She also expressed her astonishment that entrepreneurs with IIM backgrounds were utilizing Shark Tank India as a platform for self-promotion. Despite the circumstances, Vineeta suggested a valuation of ₹80 crore; however, the founders were not inclined to adjust their expectations, prompting her to withdraw from the discussion.

The remaining judges—Kunal Bahl, Namita Thapar, Ritesh Agarwal, and Aman Gupta—subsequently engaged in a competitive bidding process. Kunal proposed an investment of ₹8 crore for a 10% stake, while Ritesh Agarwal suggested ₹1.2 crore for a 1.33% stake. Namita Thapar responded with an offer of ₹1.2 crore for a 1.2% stake along with a 0.5% royalty. The representatives of Culture Circle countered with a valuation of ₹120 crore, proposing 2% equity in exchange for ₹2.4 crore. Following negotiations, the agreement was reached with Kunal Bahl committing ₹2 crore for a 2% stake and Ritesh Agarwal contributing ₹1 crore for a 1% stake, thereby valuing Culture Circle at ₹100 crore.

About Culture Circle

Culture Circle, established by Devansh Jain and Ackshay Jain, positions itself as the premier destination for luxury sneakers, streetwear, and fashion. The founders, motivated by their dissatisfaction with the scarcity of genuine platforms for rare sneakers, launched Culture Circle to fill this void. The application swiftly ascended to prominence, becoming India's leading platform for high-demand and luxury fashion.

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