Solar energy tech startup Solnce Energy appeared on Shark Tank India Season 4, Episode 35.
Founded in 2021 by Yash Tarwadi and Nilesh Shah, the company aims to make solar energy affordable and accessible through its innovative platform, offering services such as solar aggregation, bidding, marketplace solutions, consultancy, and education.
The founders entered the tank seeking ₹1 crore for 1.5% equity, valuing the company at ₹66.67 crore.
They presented their vision of simplifying solar power adoption for residential and industrial users.
Claiming to be India’s first one-stop solar app, they shared that Solnce has installed solar panels in over 1,000 homes and 150 industries. With the rising demand for clean and green energy, they expressed confidence in their app’s potential for stronger market positioning.
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When Peyush Bansal inquired about revenue, the founders revealed earnings of over ₹20 crore, impressing the Sharks. They projected future growth reaching ₹7,000 crore in the next 3-5 years, prompting Vineeta Singh to exclaim, “Billion dollars!”
Vineeta Singh and Anupam Mittal then discussed challenges in the solar sector. Mittal noted that industry growth had been slower than expected, while Aman Gupta questioned why customers would choose Solnce over established giants like Tata and Adani. Vineeta also advised the founders to refine their strategy, pointing out delays in app development.
However, the pitch soon became competitive, with multiple Sharks vying for the deal. Kunal Bahl was the first to make an offer, proposing ₹2 crore for 10% equity. Anupam Mittal countered with ₹1 crore for 3% equity, along with a 1% royalty until ₹1 crore was recouped. Peyush Bansal followed with an offer of ₹1 crore for 5% equity. Despite his earlier skepticism, Aman Gupta eventually offered ₹1 crore for 3% equity.
Taking Kunal Bahl’s advice to choose an investor who would remain actively involved in their company’s growth, the founders ultimately accepted Aman Gupta’s revised offer of ₹1 crore for 2.5% equity, securing a strategic partnership to drive their business forward.
