The co-founder and CEO of Sugar Cosmetics, Vineeta Singh, lost her cool on a teenage launcher on the special episode of the Shark Tank Tank India campus. Reyansh Juneja presented his company Memotag, which can help make life of the patients with dementia.
The product can not only predict behavior models, but can also alert family members if a patient has a fall and create a geo-closing around patients so that he does not walk outside a certain radius .
The teenager told the “sharks” that he had decided to create this product after witnessing the challenges that his grandfather had been faced because of his dementia diagnosis. He added that Memotag can also send reminders and make calls to patients.
Reyansh asked for an investment of 50 Lakh in exchange for 5% of participation in his company, evaluating the company at 10 crosses.
During the field, he mentioned that his product was still in the development stage and that he could not demonstrate how it worked. Instead, he presented a prototype version of the product that does not exist.
The founder of Shaadi.com Anupam Mittal and the director general of Emcure Pharmaceuticals, Namita Thapar, were disappointed by the founder’s land. Thapar, however, advised Reyansh to continue working on the product, then request funding.
He then said that he already had orders worth ₹ 5 crores, but it was quickly revealed that no rue was transferred to Reyansh’s account. Kunal Bahl and Ritesh Agarwal have not invested either, advising the launcher to be more prepared and concentrated as a founder.
Singh, however, told Reyansh things when they stood even if he was only 18 years old. She said that she had found that her argument was the “most disappointing” in the special campus episode.
The co-founder of Sugar Cosmetics added: “The fact that your product is zero, and you prepare so many stories around to cover it, it makes you very difficult to trust you as a founder. You have made a beautiful Box with a large brand, but it has no product inside.
Even if Reyansh left without agreement, he said he had received a “reality check” on the show.
