Shark Tank season 3 is providing thrilling glimpses from the enterprise world and followers are in for it. Within the current episode, three founders introduce their stellar product ‘magic mirror.’ The corporate’s Magnificence GPT and AI expertise bought Shark Vineeta Singh all impressed.

Regardless of being intrigued by their concepts, Vineeta wasn’t glad by their enterprise mannequin. Nevertheless, it was Lenskart’s founder Peyush Bansal who bought prepared to purchase the corporate itself from the house owners.

The magic mirror is an idea which is out there on Nykaa and Lenskart, as shoppers get to know the product earlier than shopping for it. These magic mirrors could be put in in shops, which can assist shoppers to know the product higher earlier than buying it.

The founders launched their firm as Orbo AI and requested for Rs 1 crore for a 0.75% fairness. The valuation of their firm was claimed as Rs 133.33.

Shark Vineeta tried the magic mirror and was extremely impressed by its expertise options. Nevertheless, Sugar Cosmetics is already in talks with the makers to lease out their mirrors. Lenskart’s proprietor Peyush Bansal additionally tried the magic mirror and was deeply impressed by its high quality.

Orbo AI’s founders claimed that they’ve raised Rs 26 crore up to now. Reacting to their hefty numbers, Anupam Mittal acknowledged that you’re good with elevating cash. Vineeta Singh prolonged a proposal of Rs 1 crore for 1% fairness of the corporate. Nevertheless there was a situation, the supply may solely be claimed in the event that they bought a time period sheet of Rs 3 million which continues to be underway.

That’s when Peyush Bansal prolonged a proposal saying that he would give a serious stake of 51% for Rs 15 crore within the firm. Aman reacted to his supply and stated that they will’t promote their firm immediately.

After a little bit of contemplation, the founders accepted Bansal’s supply at 51% for Rs 35 crore. Nevertheless, Peyush didn’t like their supply and was out. In the long run, the founders accepted Vineeta Singh’s supply.