Sun Feb 22 11:12:50 UTC 2026: ### Anupam Mittal Loses AI Deal to Amit Jain on Shark Tank India Season 5

The Story:

On the latest episode of Shark Tank India Season 5, Anupam Mittal, despite being a significant investor this season, lost out on a deal to Amit Jain for Heizen, an AI-powered software services company. Heizen, founded by Aman Arora and Abhilasha Mohania, sought Rs 90 lakh for 1 percent equity, valuing the company at Rs 90 crore. While several sharks expressed concerns about the company’s moat and differentiation, both Amit Jain and Anupam Mittal made offers of Rs 90 lakh for 3 percent equity initially. After negotiations, both sharks matched the founders’ counteroffer of Rs 90 lakh for 2 percent equity, but the founders ultimately chose to partner with Amit Jain, citing his experience in the services sector as a better strategic fit.

Key Points:

  • Anupam Mittal has invested Rs 10.3 crore in 15 startups this season, ranking third among the sharks in investment amount.
  • Amit Jain has invested in 3 startups, committing Rs 1.7 crore.
  • Heizen, an AI-powered software services company, is seeking Rs 90 lakh for 1 percent equity.
  • The founders project Rs 8 crore in revenue for FY 2024-25, with an EBITDA margin of 48 percent and a post-tax profit margin of 33 percent.
  • Amit Jain and Anupam Mittal both offered Rs 90 lakh for 2 percent equity, but Heizen’s founders chose Amit Jain.

Key Takeaways:

  • Founder fit and perceived strategic value can outweigh financial offers when entrepreneurs choose investors.
  • Valuation remains a key point of contention and negotiation on Shark Tank India.
  • Concerns regarding the defensibility of a business model, especially in the rapidly evolving AI space, are paramount for investors.
  • Even seasoned investors like Anupam Mittal can lose deals due to perceived better strategic alignment with other sharks.
  • The focus on women in tech, as highlighted by Anupam, is becoming an increasingly important factor in investment decisions, even if it wasn’t the deciding factor in this particular case.

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