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.
Table of Contents
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.
FAQs
Q: What did Aman Gupta say to EzPac’s founders on Shark Tank India 5?
He said he could start five similar businesses with ₹2.5 crore, questioning EzPac’s valuation and lack of a clear competitive edge.
Q: What is EzPac and who founded it?
EzPac is a Mumbai-based packaging-as-a-service startup founded in 2023 by Paarth Shah and Vatsal Shah, offering customised paper packaging for small businesses.
