Shark Tank India: Peyush Bansal Shocks Everyone By Offering To Buy Rs 133 Crore AI Startup For Rs 15 Crore

In the era of ChatGPT, a startup's three founders recently featured on popular business TV reality show Shark Tank India's third season with the concept of 'Beauty GPT'. While the concept of the startup was in itself quite interesting and gained the sharks' attention, it was a 'bizarre' offer by judge Peyush Bansal that became the highlights of the episode.

'Beauty GPT' Startup Features On Shark Tank India

orbo ai shark tank/sonyliv

The AI startup 'Orbo AI' came up on Shark Tank India recently, with what could be called a "magic mirror".

Investor Vineeta Singh was impressed by the company's "Beauty GPT" and AI technology, but she was not thrilled with the business model. Nevertheless, investor Peyush Bansal was willing to purchase the company from the founders. The "magic mirror" in question is something that can be found on websites like Nykaa or Lenskart, where users can virtually try items before making a purchase. The physical nature of this company's products allows them to be installed in retail spaces.

Orbo AI requested Rs 1 crore for a 0.75% ownership at a valuation of Rs 133.33 crore. Vineeta was very impressed with their magic mirror when she used it, but she did clarify that her company, Sugar Cosmetics, was in talks with them to rent out their mirrors. Peyush gave it a try as well, and she was really impressed with the technology on offer.

Anupam Mittal Praises The Startup's Money Making Skills

As the founders declared that they had raised Rs 26 crore till date, Anupam Mittal said, ¡°Aap paise raise karne mein awwal number ho (You are too good at raising money).¡±

Vineeta Offered Rs 1 Crore For 1% Stake In The Company

orbo ai vineeta singh/ shark tank

Given the company's current financial situation, the majority of sharks were not interested in it, but Vineeta made them a conditional offer. If they could obtain the term sheet for the Rs 3 million (Rs 30 lakhs) that was still being worked on, she offered them Rs 1 crore for 1% of the company.

Also Read: Shark Tank India Season 3: List Of All 12 Judges & Their Net Worths

Peyush Offers To Buy The Rs 133 Crore Startup For Rs 15 Crore

peyush bansal shark tank india/twitter

When Vineeta put forward her offer, Peyush Bansal raised the stakes. For Rs 15 crore, he made an offer to purchase the company's 51% majority stake.

Aman found this offer bizarre, saying, ¡°Company thode bech sakte hain aise 10 minutes mein (They can¡¯t sell their company in 10 minutes).¡± The founders were prepared to negotiate with Peyush after some consideration, but Peyush rejected their offer of Rs 35 crore for 51%. Ultimately, Vineeta's offer was then accepted by the AI startup's founders.

How The Startup Uses AI For Beauty & Skincare

Orbo is developing AI-driven solutions to boost conversions, stickiness, and loyalty for beauty brands. With Orbo's Beauty AI automation stack, brands, e-commerce sites, and retailers can easily add a visual experience and personalization layer to their products, enabling them to engage with customers in new and engaging ways.

These augmented experience and beauty AI capabilities enable highly personalized product recommendations for each user's needs. Technologically speaking, it combines seamlessly with standalone mobile apps, E-commerce platforms, and physical retail stores with kiosks to provide a true omnichannel experience for beauty and personalized care. Product segments for visual experiences include: foundation shade finder, embedded hairstyle, deep skin analysis, makeup try-on, and hair color augmentation.

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