Shraddha Kapoor’s Palmonas Secures ₹1.26 Cr on Shark Tank India
The latest season of Shark Tank India has seen another exciting deal, with Palmonas, a beauty and wellness brand co-founded by Shraddha Kapoor, securing a whopping ₹1.26 crore in funding from investors Namita Thapar and Ritesh Agarwal. The deal, which is one of the biggest on the show, saw the brand give up 1% equity in exchange for the funding.
For those who may not be familiar, Palmonas is a relatively new brand that was founded in 2022 by Pallavi Mohadikar and Dr Amol Patwari. The brand quickly gained traction in the beauty and wellness space, thanks to its unique blend of traditional Indian practices and modern technology. In 2024, Shraddha Kapoor joined the brand as a co-founder, bringing her own set of skills and expertise to the table.
The funding secured on Shark Tank India will be used to support the brand’s offline retail expansion, both in India and globally. This is a significant milestone for Palmonas, as it prepares to take its product offerings to a wider audience. The brand has already made a name for itself in the online space, but this funding will enable it to establish a strong presence in physical retail stores as well.
Another area of focus for the brand will be AI-driven personalization. Palmonas has been at the forefront of using technology to create personalized beauty and wellness products, and this funding will enable it to further develop its AI capabilities. This approach has been a key differentiator for the brand, as it allows customers to receive products tailored to their specific skin type, concerns, and needs.
The success of Palmonas on Shark Tank India is a testament to the brand’s innovative approach and commitment to quality. The team’s vision is to make traditional Indian practices more accessible and convenient for modern consumers, and this funding will be a significant boost to achieving that goal.
Namita Thapar, one of the investors on the show, was impressed by Palmonas’ unique value proposition and growth potential. “I was blown away by the brand’s commitment to using AI to create personalized products,” she said. “I believe that this is a game-changer in the beauty and wellness space, and I’m excited to be a part of it.”
Ritesh Agarwal, the other investor, also praised Palmonas’ innovative approach. “I was impressed by the brand’s ability to merge traditional Indian practices with modern technology,” he said. “I believe that this is a winning formula, and I’m excited to see where the brand goes from here.”
For Shraddha Kapoor, being a part of Palmonas has been a fulfilling experience. “I’m thrilled to be a part of this journey,” she said. “Palmonas is a brand that truly cares about its customers and is committed to using technology to make a positive impact. I’m excited to see where this funding takes us.”
The success of Palmonas on Shark Tank India is a reminder that innovation and determination can take you a long way. The brand’s unique approach and commitment to quality have earned it a significant investment, and we can’t wait to see what the future holds for this exciting brand.
Source: https://startuptalky.com/news/shraddha-kapoor-palmonas-secures-funding-shark-tank-india/
