Shark Tank India startup ARRCoat
In one of Shark Tank India's Season One episodes, featuring Ashneer Grover, Namita Thapar, Anupam Mittal, Aman Gupta, and Peyush Bansal, Mohammad Iqbal, co-founder of ARRCoat, revealed he owned 0% equity in his own startup, despite inventing the product, which is even used in Gauri Khan's home. Instead, his co-founder and investor Kranti Anand held 100% of the equity, while Mohammad Iqbal only received 30% of the profits and a small salary. The sharks of Shark Tank India, including Peyush Bansal, Aman Gupta of Boat, and Anupam Mittal of Shadi.com, were stunned by this setup. Aman Gupta even accused Kranti Anand of exploiting Mohammad Iqbal’s desperation. Peyush Bansal wasn't impressed either. Although a deal with Anupam Mittal fell through after ARRCoat's sales skyrocketed post-show, Kranti Anand eventually gave 30% equity to Mohammad Iqbal, following Anupam Mittal’s advice. Discover more about this Shark Tank India story and other pitches from Season 1. Check out the full video for more surprising stories from Shark Tank India Season 1!