Sugar Cosmetics CEO Vineeta Singh says Shark Tank pitcher is ‘under daddy’s shadow,’ while Snapdeal CEO Kunal Bahl calls her...

On the latest episode of Shark Tank India, a father-daughter duo, Richy and Hitesh, presented their spices brand, Tulua, to the panel of ‘sharks.’ Tulua offers spices sourced from all over India at prices lower than competitors. Richy, the CEO, handles the business, while her father, Hitesh, oversees sales. The founders sought Rs 50 lakh for 2% equity, valuing the company at Rs 25 crore. They shared that they had previously raised Rs 4.7 crore in two funding rounds.

During the pitch, Kunal Bahl mentioned he had met Richy before and almost invested in Tulua, praising her as a very impressive founder. When Aman Gupta asked why he didn’t invest, Kunal explained that Tulua had initially positioned itself as a B2B (Business-to-Business) brand. Richy clarified that while Tulua is still largely a B2B operation, they have started focusing on D2C (Direct-to-Consumer) sales, which currently contribute only 8% of their revenue. Most of their sales come from the HORECA (Hotels, Restaurants, and Catering) industry, with revenue rising from Rs 2 crore last year to Rs 6 crore this year.

Despite the brand’s growth, the panel of sharks expressed concerns. Aman Gupta liked the packaging and branding but felt the founders hurt their pitch by emphasizing their B2B focus. He decided not to invest. Azhar Iqubal also backed out, stating that Tulua lacked a strong ‘differentiator’ in the market. Ritesh Agarwal suggested that the founders should focus on one part of the business before expanding but chose not to invest, although he expressed interest in staying in touch. Kunal Bahl echoed these concerns and also backed out for the second time.

Vineeta Singh delivered the harshest feedback. She said there was no ‘founder-market fit’ and expressed her disappointment in Richy. She advised the duo not to pull their business in different directions and backed out. After the pitch, Vineeta discussed her thoughts with the other sharks, stating, “She’s under daddy’s shadow. They need to be separated.”

Reacting to the feedback, Hitesh defended his daughter in their post-pitch interview, saying, “This is absolutely wrong. Richy makes all the decisions. It was her decision to make a B2B business.”

Unfortunately, the duo left the show without securing a deal, highlighting the challenges of aligning vision and execution in a competitive market.