In a recent episode of Shark Tank India Season 4, Ravi Kaushik and Abhimanyu Kumar, founders of Airth, impressed the sharks with their groundbreaking air purifier technology.
Their innovative product converts standard air conditioning units into air purifiers, addressing India’s worsening air quality.
Seeking ₹60 lakh for 1% equity, the founders presented a compelling vision, drawing from Kaushik’s background in aerosol engineering and his mother’s battle with asthma to underscore their mission of delivering clean air through accessible technology.
The device’s affordability and seamless integration with existing AC systems earned widespread praise from the panel.
Background and Pitch
Till date, Airth had raised $265K across three funding rounds, according to Traxcn.
During the pitch, the founders demonstrated the effectiveness of their technology in tackling air pollution, leaving the sharks intrigued.
Vineeta Singh praised the product’s practicality and pricing, while a live demonstration showcased its unique approach, further impressing the investors.
Anupam Mittal initiated the bidding with a strong offer of ₹1 crore for 5% equity, expressing his desire to play a hands-on role. Vineeta Singh and Aman Gupta each offered ₹60 lakhs for 2% equity.
However, Varun Dua and Peyush Bansal declined to invest, citing concerns about scalability, though Dua commended the founders’ transparency and vision.
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The negotiation took a competitive turn as the founders countered with ₹96 lakhs for 3% equity, inviting all interested sharks to collaborate. Mittal upped the stakes with a ₹2 crore offer for 5% equity, creating tension. Aman Gupta, frustrated, stated, “I can’t fight for 0.5%; otherwise, I’m out.”
Final Deal
After intense negotiations, the founders accepted a joint deal with Aman Gupta and Vineeta Singh, securing ₹96 lakhs for 4% equity.
Explaining their decision, Ravi Kaushik emphasized the importance of aligning with investors who shared their vision for combating air pollution.
The episode concluded with Kaushik’s powerful statement: “Clean air is a fundamental right, and through this platform, we’ve been able to bring attention to this urgent issue.”
