NAM6/0 (2/50 ov, target 130)
IRE129
SS-W196/8
HH-W70/5 (12.2/20 ov, target 197)
RAJ0
SRE0
AMED1
EYU0
COMO
VEN
MCFC
SCD
GET
SEV
WI-A
LIONS
FRO
TOR
LAZ
CAG
STR
AUX
ITKA
FC Goa
NZ195/3 (18/20 ov, target 192)
IND191/8
Aston Villa1
Fulham1
Barcelona6
Alavés1
Milan3
Inter Milan1
RHINO274/5 (47/50 ov)
MOUNT
EAGLE
TUSK205 (44.3/50 ov)
DOLPH174/4
BOL118/0 (13.1/20 ov, target 175)
JAB
POA
NZ-A218/3 (62 ov)
IND-A346
QLD202/5 (71 ov)
VIC307
SYL218
CHATT64/1 (15 ov)
MYMS
KHU280/8 (82 ov)
DHA
BAR
RAN
RAJ155/6 (59 ov)
AFG
ZIM
NED
OMA
MS-W
PS-W
LIONS
TITNS
TOK
MIS
MOW
BRB
KAY
KAG
PAK331/7 (48.3/50 ov, target 326)
SL325/8
UAE266/5 (49/50 ov, target 264)
ST-W180/4 (16.4/20 ov, target 179)
BH-W178/5
MR-W136/6
AS-W185/2
ORE0
CSK0
PER1
WEL0
FCU
KOE
Troyes2
Le Mans0
Al Hilal2
Al Fateh0
Spurs2
C Palace0
There’s a reason Aman Gupta is one of the most-watched Sharks on Indian television. He doesn’t sugarcoat. And EzPac’s founders learned that the hard way on a recent episode of Shark Tank India Season 5.
Mumbai-based packaging startup EzPac — founded in 2023 by brothers Paarth Shah and Vatsal Shah — walked into the Tank seeking ₹2.5 crore for 5% equity, valuing their business at ₹50 crore. The pitch? Affordable, customised paper packaging for small businesses, built from scratch on just ₹47 lakh. Impressive bootstrapping — but the Sharks weren’t buying the valuation.
What Went Wrong with Aman Gupta?
| Pitch Element | What Founders Said | Sharks’ Verdict |
|---|---|---|
| Funding Ask | ₹2.5 Cr for 5% equity | Too high for the stage |
| Valuation | ₹50 Crore | Unjustified |
| Revenue Proof | Supplied to Sugar Cosmetics | Not enough moat |
| Key Metrics | Unclear CAC & financials | Raised red flags |
| Market Position | Affordable packaging | Overcrowded space |
The Line That Said It All
When the founders struggled to justify their numbers, Aman Gupta delivered the episode’s most viral moment: “Itne mein, main aapke jaisi 5 company khade kar sakta hu” — meaning he could launch five similar companies with the very same ₹2.5 crore rather than invest in theirs.
That’s not just a burn. That’s a masterclass in what investors actually look for: defensibility, differentiation, and clarity.
Other Sharks Piled On Too
Namita Thapar flagged the packaging market’s overcrowding as a core concern, while Vineeta Singh — whose brand Sugar Cosmetics had actually sourced from EzPac — advised the founders to fix their online strategy before chasing capital. When even your own past client isn’t ready to invest, it’s a signal worth taking seriously.
Aman Gupta, who co-founded boAt and turned it into a ₹2,000 crore consumer electronics brand, knows firsthand what it takes to scale. His skepticism here wasn’t personal — it was practical.
The Real Lesson for Startup Founders
EzPac’s story isn’t about failure — it’s about timing and preparation. The startup had real traction, genuine hustle, and a working model. What it lacked was a compelling answer to the hardest investor question: “Why you, why now, and why can’t someone just copy this tomorrow?”
If you’re building a startup and want to understand the metrics that matter before pitching, check out more Shark Tank India insights on Technosports.
