Shark Tank India Season 4: 'My biggest cheque till', remarks startup founder as he wins Rs 5 crore deal!

The third episode of Shark Tank India Season 4 witnessed one of the most remarkable deals in the show’s history. A premium lifestyle accessory startup, NOOE (Never Odd or Even), founded by Pune-based Nitika Pandey and Delhi-based Piyush Suri, managed to secure a deal worth Rs 5 crore, with Peyush Bansal acquiring a controlling 51% stake in the company.

About NOOE: A Sustainable Lifestyle Brand

NOOE specialises in designing and selling premium desk sets, stationery, and other lifestyle items made from sustainable materials. Recognised globally for its innovation, the company has won the prestigious Reddot Design Award, often referred to as the "Oscar of the fashion world."

Currently, NOOE’s products are sold in 40+ countries and are available in retail outlets across 9 nations, including the iconic Harrods in London.

The Founders’ Journey

Piyush Suri, an engineer, started his entrepreneurial journey in 2009 after working with Accenture in New York. He later collaborated with Nitika Pandey, a graduate in industrial design with professional experience in Copenhagen, Denmark. Nitika, after witnessing the success of her own portable lamp collection, returned to India to co-found NOOE with Piyush.

The ownership of NOOE is divided as follows:

Piyush Suri: 55%
Nitika Pandey: 11%
eShop: 6%
Ex-partner: 11%
Angel investors and family friends: 15%

Financial Snapshot

The company reported sales of Rs 1.3 crore in 2023 with a burn rate of Rs 50 lakh. In 2024, sales grew to Rs 2.7 crore with a burn rate of Rs 1.4 crore. For 2025, the company has already achieved sales of Rs 1.5 crore and is targeting Rs 6 crore by year-end, with a projected burn of Rs 2.5 crore. Despite its global reach, the company faces a debt of Rs 1.2 crore, with Rs 22 lakh in cash reserves.

The Sharks’ Feedback and Offers

The founders initially sought Rs 50 lakh for 1% equity, but the sharks had mixed reactions:

• Anupam Mittal and Vineeta Singh walked out, citing concerns about the valuation.
• Kunal Shah suggested improving the gross margin before withdrawing.
• Aman Gupta offered Rs 3 crore for 50% equity but was countered by the founders.

Piyush Bansal, however, proposed Rs 5 crore for a controlling 51% stake, emphasising the need for significant investment to scale the brand. The founders eventually accepted this offer, marking the largest deal of the season so far.

Peyush Bansal’s Take

Expressing his excitement, Piyush Bansal said, “This is my biggest cheque till date.” The deal not only showcased his confidence in the startup's potential but also highlighted the transformative impact of Shark Tank India on emerging businesses.

This episode is set to inspire many aspiring entrepreneurs by demonstrating the value of innovative ideas and sustainable practices in today’s competitive market.