Shark Tank India: Croffle Guys Reject OG Sharks, Take Kunal Bahl-Mohit Yadav’s Rs 2.5 Crore Deal

The first pitch of Shark Tank India 5 didn’t just bring food innovation into the Tank, it brought drama too. A young startup with Bollywood connections walked in, impressed the Sharks, and then stunned some of the show’s most familiar faces by rejecting them in favour of a newer investor duo.

The season opened with Croffle Guys, a one-year-old food brand founded by Rahul Vinod Vohra, Annanya Agarwal, Amay Thakkar and Veer Pinto. The founders pitched their croffle concept, a fusion of croissant and waffle, seeking Rs 1 crore for 1 percent equity. The panel for the episode included Anupam Mittal, Aman Gupta, Namita Thapar, Kunal Bahl and Mohit Yadav.

What immediately caught attention was the diverse background of the founders. Veer Pinto revealed

that he works full-time in the film industry and is part of Karan Johar’s Dharma Productions creative team, clarifying that he is not a full-time member of the startup. Rahul Vinod Vohra shared his journey as a struggling actor who had assisted filmmaker Kabir Khan and even featured alongside Shah Rukh Khan in an advertisement. He explained that financial pressure and lack of acting opportunities pushed him to focus full-time on building Croffle Guys. Annanya Agarwal disclosed that he has invested in the brand but is busy running another startup, while Amay Thakkar, a full-time co-founder, said he studied industrial engineering in the US.

The founders said the idea was born during a boys’ trip to Thailand, where they first encountered croffles. As the discussion moved to scalability, Anupam Mittal questioned the concept’s mass appeal, remarking, “In the nation where we call croissant ‘Prashant’ do think there is market for this?’”

They also addressed competition from The Belgian Waffle Company, claiming they had opened an outlet directly opposite the brand’s highest-selling store in Mumbai. According to the founders, Croffle Guys has clocked lifetime sales of ₹1.5 crore in its first year. When asked why coffee was part of the menu, Rahul responded with a dialogue-style answer, prompting Aman Gupta to quip, “Oh hero..dialogue baazi.” Namita Thapar followed with a sharp reaction, “Tu ja vapas Bollywood.”

Despite concerns around competition and scalability — including Kunal Bahl’s warning that established brands could easily add croffles to their menus — the pitch sparked a bidding war. Aman Gupta offered ₹1 crore for 3 percent equity, an offer matched by Namita Thapar and Kunal Bahl. Anupam Mittal admitted he disliked the valuation but liked the founders, presenting two options: ₹1.5 crore for 5 percent equity, or ₹1 crore for 1 percent equity with a 2 percent royalty until ₹2 crore was recovered. Kunal Bahl and Mohit Yadav then teamed up to offer ₹2 crore for 6 percent equity.

The founders countered with a bold proposal — ₹2.5 crore for 5 percent equity, with all five Sharks investing ₹50 lakh each. This immediately created tension, with Kunal refusing to be part of the combined deal. Eventually, Kunal Bahl and Mohit Yadav agreed to invest ₹2.5 crore for 5 percent equity. Anupam Mittal, Aman Gupta and Namita Thapar later matched the same offer.

After deliberating, the founders chose to partner with Kunal Bahl and Mohit Yadav, rejecting the other three Sharks. A visibly stunned Namita Thapar reacted, “You are rejecting the OG Sharks for the new guys,” to which the pitchers apologised but stood firm on their decision.