Anupam Mittal calls Planyt founder “delusional” as he pitches a pre-revenue, 4-year-old startup

Planyt, a Vadodara-based startup developing a plant growth device, failed to secure an investment on Shark Tank India Season 5 after its pitch raised concerns among all five Sharks.

Founded by Shubham Upadhyay, Planyt presented a plant growth system based on a patented fogponics technology, which the founder claimed was inspired by systems developed by NASA and later refined by his team. Upadhyay sought Rs 1.05 crore for 6.5% equity, valuing the company at Rs 16.15 crore. 

During the pitch, Upadhyay stated that he started the company in 2021 to address hunger. However, the Sharks questioned the feasibility of the claim after learning that a household would need to spend around Rs 7.5 lakh to purchase the system. The founder also disclosed that the company remains pre-revenue, despite having operated for four years.

Upadhyay told the panel that Planyt had sold 80 to 100 units at discounted prices, requires 24×7 electricity to operate, and had received Rs 10 lakh in government funding, which he had earlier described as being “heavily funded.”

The disclosures prompted strong reactions from the panel. Anupam Mittal questioned the mismatch between the product’s pricing and its stated mission, describing the product as “shaukeen” and “Ameeron k chochle”. Aman Gupta also expressed scepticism about the product’s utility, saying, “You’re a proper delulu in doing this.”

Namita Thapar, Amit Jain, and Ritesh Agarwal declined to invest, advising the founder to reassess the need and purpose of the business or shut the venture in its current form.

Planyt exited the Tank without a deal. After the pitch, Upadhyay said he was offended by some personal remarks made during the discussion but described the experience as a learning opportunity.