Shark Tank India Season 3: The recent episode of Shark Tank India Season 3 featured Arista Vault, a pioneering smart luggage brand from India, successfully securing a deal with prominent entrepreneur Anupam Mittal. Led by CEO Ms. Purvi Roy and CFO Mr. Atul Gupta, Arista Vault showcased a range of innovative travel solutions that captured the attention of both the sharks and the audience.
About Arista Vault
During their appearance on Shark Tank, Arista Vault presented a suite of smart products aimed at redefining travel convenience and security. These products included anti-lost and anti-theft Smart Wallets, Fingerlock Smart Bags, and the groundbreaking Follow Me Smart Luggage, capable of autonomously following its owner.
Founded in 2018 by Purvi Roy, Atul Gupta, and Col. Krishan Kumar Singh, Arista Vault has established a legacy of innovation with a portfolio boasting 7 patents and 6 trademarks. This highlights the company’s dedication to pushing the boundaries of technology in the luggage industry.
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The engaging presentation by the founders and the unique features of their products, such as hands-free and self-driving capabilities, made a lasting impression on the sharks. Anupam Mittal, a prominent figure in the business world, was particularly impressed and offered a deal to support Arista Vault’s journey to success.
Story behind the Entrepreneurship
Purvi Roy and Atul Gupta, both from Delhi, have emerged as the driving force behind Arista Vault’s success. Their collaborative journey began in 2016 when Atul, previously a financial advisor to Purvi’s fashion venture, shared her visionary outlook for Arista Vault in 2017.
Atul Gupta’s inspiring journey from a railway ticket collector at 17 to a qualified professional at the Indian Audits and Accounts Department through UPSC showcases his unwavering commitment to innovation. His bold decision to retire at 39 demonstrates his readiness to embrace new challenges. Together, Purvi and Atul are guiding Arista Vault towards new heights, combining their unique skills and experiences to make a lasting impact in the business world.
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Strategic Backing and Brand Ambassador
With the support of Anupam Mittal and the platform provided by Shark Tank India Season 3, Arista Vault is now positioned to make a significant impact in the luggage security landscape. The company has appointed former cricketer Ishant Sharma as its brand ambassador, emphasizing the shift towards embracing smart travel solutions and encouraging consumers to “Switch2Smart.”
Negotiating the Deal
Purvi Roy and Atul Gupta, based in Delhi, brought not only their innovative products but also a story of dedication and perseverance to the Shark Tank stage. Seeking Rs 45 lakh for a 1.5% equity stake, they received a conditional offer from Anupam Mittal: Rs 15 lakh for 1% equity and Rs 30 lakh in debt at 18% interest for 2 years.
