Shark Tank India 4: Ritesh Agarwal Backs 12th Pass Entrepreneur Despite Others’ Rejection

Shark Tank India 4: Ritesh Agarwal Believes in a 12th Pass Entrepreneur Even After Other Sharks Back Out

A small business from a village in Rajasthan impressed Ritesh Agarwal on the latest episode of Shark Tank India 4. While other Sharks decided not to invest, Ritesh saw potential and made an offer.

A Platform for Small Businesses

Shark Tank India 4 gives young entrepreneurs from across India a chance to present their unique business ideas on national television. Many small businesses have won over the Sharks this season, and in the March 4 episode, another inspiring story was featured.

A Business That Helps Tribal Women

A couple, Rajesh Ojha and Pooja Ojha, from Jaswantgarh, Udaipur, started TribalVeda. Their business sells natural jamun (java plum) products online and provides jobs to tribal women. So far, they have processed over 5 lakh kg of jamun with the help of 5,000 tribal women. They asked for ₹50 lakh in exchange for 2% equity.

The Sharks React

When the Sharks tasted their products, it brought back childhood memories. Namita Thapar said she ate jamun a lot as a child because her grandmother had a jamun tree. Vineeta Singh, excited to try their jamun shot, gave it a positive review. Even Ritesh Agarwal shared that jamun reminded him of his childhood.

The Founder’s Journey

Rajesh left his village at 16 and moved to Mumbai, where he worked as a delivery person for years. He then tried starting a business but failed. After returning to his village, he noticed that the forest had a lot of jamun trees. Since jamun only grows for one month a year and spoils within a day, local tribal women had to sell it for very low prices. That’s when he got the idea to create TribalVeda.

Their Business Model

The founders said their products are mostly used by people above 35 for health benefits. Their sales come from:

• 40% from Mumbai
• 20% from Bengaluru
• 8% from marketplaces
• 22% from events and farmer markets
• 70% from their website

The company is currently making a 45% profit margin in B2B sales.

Sharks’ Decision & Ritesh’s Offer

Namita Thapar, Vineeta Singh, Anupam Mittal, and Kunal Bahl decided not to invest due to various challenges. But Ritesh Agarwal saw potential and said: “I will bet on you.”

Initially, Ritesh offered ₹50 lakh for 7.5% equity, while the founders countered with ₹1 crore for 5% equity. After negotiation, they agreed on ₹50 lakh for 5% equity, where 2.8% is direct equity and 2.2% is advisory equity.

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