Episode 6 of Shark Tank India Season 5 ran the season’s second Match Off, this time between two pet food brands. Smylo came out ahead — and did something almost no founder manages on this show. It closed a deal above the valuation it asked for.
- What is Smylo?
- The pitch: Rs 68 lakh for 1% equity
- The deal: Rs 75 lakh for 1% plus 2% advisory equity
- Understanding advisory equity
- What founders should take away
- Frequently Asked Questions
- Did Smylo get a deal on Shark Tank India Season 5?
- What valuation did Smylo get?
- What does Smylo sell?
- Who did Smylo compete against in the Match Off?
- What is advisory equity?
- The bottom line
What is Smylo?
Smylo is a pet food brand working in specialised fresh-meat nutrition, with a focus on cat food — a segment that has grown quickly as urban Indian households have shifted toward cats in apartments where dogs are impractical.
Fresh and premium pet nutrition is one of the most attractive consumer categories in India right now. Pet parents treat food as a health decision rather than a cost decision, purchases repeat on a fixed cycle, and the customer relationship lasts for the animal’s lifetime. Very few consumer categories offer that combination of high emotional involvement and guaranteed repeat purchase.
The pitch: Rs 68 lakh for 1% equity
Smylo asked for ₹68 lakh for 1% equity, valuing the business at ₹68 crore.
The deal: Rs 75 lakh for 1% plus 2% advisory equity
The Sharks offered ₹75 lakh for 1% equity plus 2% advisory equity. That values the company at ₹75 crore on the invested equity — roughly 10% higher than the founders themselves had asked for.
| Ask | Deal | |
|---|---|---|
| Capital | ₹68 lakh | ₹75 lakh |
| Equity for cash | 1% | 1% |
| Advisory equity | — | 2% |
| Valuation on cash | ₹68 crore | ₹75 crore |
Set against everything else in Season 5 — Croffle cut 50%, Capture A Trip cut 70%, Every Morning Cartel cut far more — this is an extraordinary outcome. In a season built around interrogating unit economics, one brand got its price raised.
Understanding advisory equity
The 2% advisory equity is the part founders should look at carefully, because it appeared repeatedly across Season 5.
Advisory equity is stock granted to an investor for their time, network and involvement rather than for cash. In effect, Smylo paid 3% in total — 1% for the money, 2% for the relationship. The founders were not diluted in the conventional sense on the cash component; they were diluted for access.
When advisory equity is worth it
In pet food specifically, the hardest problems are distribution into pet stores and veterinary channels, retail listings, and supply chain for perishable fresh product. Those are exactly the problems a well-connected investor solves faster than money does. Paying 2% to shortcut two years of relationship-building is often the better trade.
When it is not
Advisory equity that is not tied to specific, measurable involvement is simply free stock. Founders accepting these structures should insist on vesting schedules and defined commitments rather than open-ended arrangements.
What founders should take away
- Under-asking is a real option. Smylo asked at ₹68 crore — a specific, non-round number that suggests it was calculated rather than aspirational. The Sharks not only accepted it, they improved it.
- Precise numbers signal competence. Across Season 5, brands asking round ₹1 crore for 1% figures were challenged hardest. A number that looks derived from a model invites fewer questions than one that looks chosen for effect.
- Structure matters as much as headline valuation. Compare Smylo’s terms with its Match Off opponent Nootie, which took a royalty attached to its deal. Same category, same episode, very different economics.
Frequently Asked Questions
Did Smylo get a deal on Shark Tank India Season 5?
Yes. Smylo closed ₹75 lakh for 1% equity plus 2% advisory equity, against an ask of ₹68 lakh for 1%.
What valuation did Smylo get?
₹75 crore on the cash component — higher than the ₹68 crore the founders asked for.
What does Smylo sell?
Smylo is a pet food brand focused on specialised fresh-meat nutrition, particularly for cats.
Who did Smylo compete against in the Match Off?
Nootie by Pet Point, in Episode 6 of Shark Tank India Season 5.
What is advisory equity?
Equity granted to an investor in exchange for time, mentorship and network access rather than cash investment.
The bottom line
Smylo is the rarest outcome in Shark Tank India Season 5 — a founder who walked in with a realistic number and walked out with a better one. In a season where nearly every headline valuation got cut, asking for slightly less than you could defend turned out to be the strongest negotiating position available.
