In a historic moment for Shark Tank India, Peyush Bansal, Co-founder and CEO of Lenskart, made waves by writing the show’s largest cheque till date.
He acquired a controlling 51% stake in NOOE, a premium lifestyle and accessories brand, for a staggering Rs 5 crores.
Bansal expressed his trust in NOOE’s potential for global success, remarking, “This is my biggest cheque till date.“
This deal marks the biggest in the history of Shark Tank India, underscoring the platform’s role in fostering groundbreaking Indian startups.
The Pitch:
NOOE’s founders entered the Shark Tank India stage seeking ₹50 lakh for 1% equity, valuing the company at ₹50 crore. While their visually stunning presentation impressed the Sharks, the financial details sparked a heated debate.
The company reported ₹2.7 crore in sales for 2024 but operated at a burn rate of ₹1.4 crore.
Projections for 2025 estimate sales of ₹6 crore, with the burn rate anticipated to rise to ₹2.5 crore.
Despite the impressive product quality and brand vision, these numbers made Sharks like Anupam Mittal, Vineeta Singh, and Kunal Bahl hesitate to invest.
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However, Peyush Bansal, undeterred by the financial challenges, saw immense potential in NOOE’s growth trajectory and offered ₹5 crore for a controlling stake.
About NOOE
Co-founded by Piyush Suri and Neetica Pande in 2021, NOOE specializes in premium lifestyle products like desk sets and stationery made with sustainable materials.
The brand boasts production roots in India and China, with products available in retail outlets across 9 countries, including the iconic Harrods in London.
With Bansal’s backing, NOOE is poised to make significant strides, cementing its place as a global leader in premium lifestyle and sustainable accessories.
