A recent analysis indicates that the seven highly regarded investors in Shark Tank India fulfilled less than half of their promised investments following the first season. Market intelligence firm PrivateCircle revealed that out of the 65 investment pledges showcased on the TV show, the “sharks” only invested in 27 startups, committing a total of $4.87 million. However, by last week, they had only invested around $2 million, based on the firm’s examination of corporate filings, excluding debt investments.

Looking ahead to the second season of Shark Tank India, which concluded in March of the current year, the outlook seems even more uncertain. The local ministry has disclosed only one investment, despite the panel of sharks promising 115 deals.

It’s worth noting that some investments might still be undergoing due diligence, and the ministry’s website may be facing technical glitches, which could explain the limited disclosure figures. Sony Network India, the broadcaster of Shark Tank in India, declined to comment on the matter when approached.

According to Sumanjan Kumar, Lead Financial Analyst at PrivateCircle, their findings suggest that certain deals from the show might have fallen through due to concerns in company due diligence. Additionally, some startups chose to seek funding from other investors at higher valuations instead of proceeding with the Shark Tank deal.

Shark Tank India: Existing Criticism

This analysis adds to the existing criticism surrounding the show, which Sony estimates has a viewership of over 250 million people. In recent months, some startups that participated in Shark Tank India have voiced their dissatisfaction, claiming that many investors didn’t follow through on their promises after the TV show.

Anupam Mittal, one of the investors on Shark Tank India and the founder of Shaadi.com, defended the show in a recent LinkedIn post. He claimed that 66% of the deals presented during the show’s first season were successfully executed, surpassing the success rate of the U.S. version. He also mentioned that most deals take three to six months to materialize.

Aman Gupta, co-founder of the consumer electronics brand Boat and an investor in Shark Tank India, also came to the show’s defence. He stated that many entrepreneurs prefer to negotiate the investment deal or decline it after the telecast. PrivateCircle’s analysis supported this claim, noting that at least six startups opted not to proceed with their Shark Tank deals and sought funding from different investors at higher valuations.