Even Ritesh Agarwal thought twice before investing Rs 20 lakh for 10% equity in an extremely small business operated by two men from a remote village in Gujarat. Ritesh frequently invests money, or offers cash through his fund, to founders in need of it. In an earlier episode of Shark Tank India, Aman Gupta even reprimanded him for setting the wrong precedents. But both ‘sharks’ backed out of a pitch by the two founders, who have somehow managed to set up an artisanal cheese brand, Panchal Dairy, from their village. They said that they have the support of an entrepreneur from Chennai, but admitted that their revenue has stagnated at Rs 7 lakh per year.The founders produce fancy cheeses such as Ricotta and Gouda from their village, and have even been nominated for an international award in Norway. They said that their operation involves just two fridges and a draining table, and that every product is handmade. They rose capital for the company by investing Rs 8 lakh of their own money, and borrowing more from the women in their village. They said that in their community, it’s the women who handle the finances. Namita Thapar was struck by this, and made it a point to appreciate both the woman from Chennai and the women from their community who have helped their business in exchange for nothing.Also read – Shark Tank India pitcher whose family poured Rs 4.5 crore into her business gets death sentence from Anupam Mittal: ‘Think of something else’Anupam Mittal said that he was ‘achambit’ at their knowledge about cheese, and appreciated how far they’ve come. But, he said, that they lack business discipline and have no clear goals about how they will take their brand to the next level. He backed out of the deal as well. Kunal Bahl said that it’s too early for him to invest, and said that he could possibly reconsider if they hit Rs 50 lakh in revenue, but they would have to make it on their own until then. Aman said that they shouldn’t chase investor funding at this stage, and should instead work towards building processes and a supply chain. He also noted that they will run out of money in three months, and asked how they will combat this hurdle. “We will apply for a loan against our equipment,” one of the founders said.Namita was moved. She said that she cannot offer investment, but could offer them Rs 2 lakh as a runway. She said that she would consider investing if they are able to double their revenue in the next few months. She also offered free guidance over Zoom every two weeks, to help the founders overcome any difficulties that they might be facing around distribution and technology. With tears in their eyes, the founders accepted Namita’s gesture.Click here to follow Screen Digital on YouTube and stay updated with the latest from the world of cinema.© IE Online Media Services Pvt Ltd