The three most popular search terms in India at any given time are “astrology,” “Bollywood,” and “cricket.” On Shark Tank India Season 3, a pitcher from the astrology service company Melooha made this statement.
The pitchers claimed that Melooha is an AI-powered, hyper-personalised astrology and horoscope smartphone application that is available on iOS and Android in the hopes of raising money from investors, also known as the Sharks. Investor Aman Gupta, whose net worth is estimated to be close to Rs 700 crore, declined to invest in the company after hearing the presentation. This is the explanation.
Following his hearing Melooha’s pitch, Aman declared that he did not believe in astrology. He provided a humorous but impactful example. According to Aman, if an astrologer foretells that he will be bitten by a dog in the near future, he will become afraid of dogs. The fear may give rise to untruths and misconceptions. He therefore disbelieves in a service that encourages stigma and terror.
The other panellists, Namita Thapar and Vineeta Singh, laughed in response.
#KikoLive, #Melooha and #FutrStudios are three innovation-led brands that are here to wow the Sharks with their interesting concepts!🤩✨
Which pitch will impress the Sharks with its product offering and take home a deal?🤔 pic.twitter.com/8u8xkvTpeW
— Shark Tank India (@sharktankindia) March 26, 2024
Aman asked the pitchers if they had ever forecasted an incident that did not come to pass in order to bring the conversation down to a serious level. A pitcher named Mrs. Pathak remarked, “Yes, aisa ho sakta hai.” Toh insaan hoon main bhi. (Yes, it is possible. I mean, I’m just a human.)
Then, well-known Shark Anupam Mittal asked the pitchers straight out if they will get paid for the show or not. The question was beyond the pitchers’ ability to answer.
A shark with a net worth of millions of crores of rupees, Deepinder Goyal, also questioned the viability of the venture. Whether or if the astro-business received an investment is something that only time will tell.
