In the era of AI marvels like ChatGPT, Orbo AI, a beauty tech startup, stunned the judges on Shark Tank India with their “Beauty GPT” concept. This “magic mirror” uses AI to analyze users’ skin, recommend products, and offer virtual try-ons, similar to online retailers but for physical stores. While the concept impressed, it was investor Peyush Bansal’s controversial ₹15cr offer for a 51% stake (despite a ₹133cr valuation) that truly captivated the audience!
Key Highlights:
- AI-Powered Magic Mirror: Orbo AI’s “magic mirror” uses advanced AI to analyze users’ skin, recommend personalized beauty products, and offer virtual try-ons – similar to what you might find on Nykaa or Lenskart, but for physical retail spaces.
- ₹133.33cr Valuation: The ambitious founders sought ₹1cr for just 0.75% equity, valuing their company at a whopping ₹133.33cr.
- “Bizarre” Buyout Offer: While investor Vineeta Singh was impressed with the technology, she questioned the business model and offered ₹1cr for 1%. Then came Peyush Bansal’s shocking counteroffer: ₹15cr for a controlling 51% stake, sparking debate among the sharks.
- Negotiations and Decision: After much deliberation and negotiations, the founders ultimately accepted Vineeta’s offer, leaving the “bizarre” buyout on the table.
