Story behind Shark Tank India’s record-breaking Rs 5 crore deal featuring Peyush Bansal, Shark Tank India, Peyush Bansal, nooe, entrepreneurs, business, social media. latest news, india

Shark Tank India’s ongoing season has seen many entrepreneurs bag great deals with the Sharks. However, one company that struck gold is NOOE, which got a Rs 5 crore deal with Lenskart co-founder Peyush Bansal.

NOOE is an Indian premium lifestyle and accessory brand, co-founded by Piyush Suri and Neetica Pande. The company appeared on Shark Tank India in January, taking away what has now become the biggest deal in Shark Tank India’s history. While the viewers are aware of how Bansal sealed the deal with NOOE co-founders, taking away the maximum share of equity, there is very little known about what went behind the deal and how the co-founders made their way to Shark Tank India.

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Surprisingly, the co-founders, in a conversation with Mathrubhumi English, revealed that the makers of the show approached them, rather than NOOE applying to be a part of it. Suri, while talking to us, said, “We never applied to Shark Tank India before; neither did we initiate the conversation this time. After we became more famous on social media, our content caught their (the makers) eye. We are not just company builders; we are brand builders. For us, we didn’t know that going to a particular season could be life-changing, and it has been life-changing! In hindsight, we could have done that before, sure.”

When the co-founders decided to finally appear on the show, they hadn’t thought that they would be bagging Shark Tank India’s biggest-ever deal. “We didn’t plan to get the biggest deal. We simply wanted to work with somebody who understands the vision behind the brand and helps us in building it further. The more we learnt about Shark Tank India, the more we understood its reach. We found it to be a great fit for what we were planning to do. Getting the biggest deal has been life-changing for us,” said Suri while recalling the deal.

Ever since NOOE’s episode was released, the brand has seen a significant increase in its social media presence. As per Suri, just a day after the episode’s telecast, NOOE’s online traffic increased drastically. “Our traffic increased by 200%. Our order size and order value have also drastically increased. Neetica and I are being recognised at cafes and other places. I would say that our brand is now synonymous with great design, luxury, and premium quality. This kind of media attention that we have got, I don’t know if it is something you will get even after putting in money. It is only possible in a unique way with a platform like ‘Shark Tank India,” Suri told us. Pande

While they did get to crack a deal, they had to give away Bansal the controlling share. Speaking of their initial reservations regarding Bansal’s demand for the highest stake, Pande, who convinced her founding partner for the deal, recalled the difficulties they faced and said, “There was a lot of back and forth happening in terms of whatever we were trying to do. There were a lot of feelings involved—we were jittery, we wanted to go ahead with the deal, and then we didn’t want to make the deal. But finally, later, we thought of what was right for the brand. We did what we felt was right at the moment for the future of NOOE, rather than thinking about our interests.”

“It was huge for us to say yes to the deal. We were nervous, but later we felt that we did it for the brand, and it was the right choice that we made,” she concluded.

As per the co-founders, the brand was conceptualised in 2020, in the middle of the pandemic.

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