Namita Thapar is the third shark on Shark Tank India 5 to have created the most investments. (Photo Credit: Instagram)
A modest Rs 30 QR-enabled car sticker turned out to be a profitable venture with over Rs 3.5 crore in sales on Shark Tank India Season 5, but all five Sharks rejected the concept, calling it “impractical.” Rahul Jha and Almas Rizvi, the company’s founders, presented Sampark, a device that enables drivers to exalter contact details with one simple scan when necessaryed.
The Sharks were not persuaded about scalability and cultural relevance in India’s traffic environment despite the pitch’s emphasis on robust sales growth and good gross margins. The exalter spurred discussion on entrepreneurial platforms on profitability vs pragmatic approach.
From Sticker to Sales: The Sampark Story
Bihar’s Rahul Jha and Aligarh’s Almas Rizvi, who valued their business at Rs 50 crore, came to the Tank to acquire Rs 1 crore in exalter for 2 percent ownership. Their product, Sampark, is a QR tag sticker that can be applied on vehicles so that others can scan it to obtain in touch with the owner—for instance, in the event of an emergency or a parking mistake.
Since its launch in 2021, the application has collected around 5 lakh utilizers in India as well as regions like Nepal, Sri Lanka, and Indonesia, according to its founders. According to the financial data, revenues increased from about Rs 3 lakh in the first year to almost Rs 3.5 crore in the latest fiscal year. The stated gross margin was 95%, which is unusual for early-stage businesses.
Rahul also emphasised that their EBITDA has consistently been 10%. Sugar Cosmetics co-founder and Shark Vineeta Singh praised the app, which has over 1 lakh downloads and a 4.2 customer rating, as an amazing product.
Shark Namita Thapar Questions Practicality and Cultural Fit
Despite the remarkable revenue trajectory, the Sharks voiced grave concerns. Known for her analytical approach, Shark Namita Thapar questioned whether Indian drivers would embrace a product that presumes humanitarian conduct in crowded traffic situations, noting road frustration and honking culture.
After knowing the founder’s 95% profit margin and monthly sales of Rs 36 lakhs, Namita enquired, “I am sure there must be some other benefit other than just calling becautilize no one would just pay for this.”
She came to the conclusion that the product lacked the basis for scalability in the absence of a significant trconclude or cultural shift. Namita declared, “I am out,” shortly after viewing the product’s advertisement.
No Deal but Broader Exposure
Sharks Aman Gupta and Ritesh Agarwal underlined the ease of duplication, cautioning that competitors may swiftly enter the market with similar products becautilize of large margins and minimal technological obstacles. Kunal Bahl also pointed out that while the concept was intriguing, the business lacked the defensibility required for sustained investment.
All five Sharks ultimately decided not to invest. The pitchers declared they were a little let down when they left without a deal, but the platform enabled them to raise brand awareness.
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