In a landmark episode of Shark Tank India Season 4, the lifestyle brand NOOE secured a record-breaking investment of ₹5 crore from Peyush Bansal, co-founder and CEO of Lenskart, in exchange for a 51% stake in the company.
About NOOE
NOOE, which stands for “Never Odd or Even,” specializes in premium lifestyle accessories inspired by Japandi design—a fusion of Japanese and Scandinavian aesthetics. The brand offers products such as desk sets and stationery crafted from sustainable materials. Notably, NOOE has garnered international acclaim, including the prestigious Red Dot Design Award, and its products are available in over 40 countries, with retail presence in nine nations, including the iconic Harrods in London.
Founders’ Background
The company was co-founded by Pune-based Nitika Pandey and Delhi-based Piyush Suri. Pandey, an industrial design graduate with experience in Copenhagen, Denmark, returned to India to collaborate with Suri, an engineer who began his entrepreneurial journey in 2009 after working with Accenture in New York. Their combined expertise has been instrumental in shaping NOOE’s design philosophy and global outreach.
Financial Trajectory
NOOE’s financial journey reflects significant growth and strategic investment. In 2023, the company reported sales of ₹1.3 crore with a burn rate of ₹50 lakh. The following year, sales more than doubled to ₹2.7 crore, accompanied by a burn rate of ₹1.4 crore. By 2025, NOOE had already achieved sales of ₹1.5 crore and set an ambitious target of ₹6 crore for the year, with a projected burn of ₹2.5 crore. Despite its expanding global footprint, the company faced a debt of ₹1.2 crore, with cash reserves of ₹22 lakh.
Shark Tank India Pitch
During their appearance on Shark Tank India, Pandey and Suri initially sought an investment of ₹50 lakh for 1% equity, valuing the company at ₹50 crore. The pitch elicited mixed reactions from the panel of sharks:
- Anupam Mittal and Vineeta Singh expressed concerns over the high valuation and opted out.
- Kunal Shah suggested improving gross margins before considering investment and also declined.
- Aman Gupta offered ₹3 crore for a 50% stake, which the founders countered.
Peyush Bansal, recognizing the brand’s potential, proposed ₹5 crore for a controlling 51% stake, emphasizing the need for substantial investment to scale the brand effectively. After deliberation, the founders accepted Bansal’s offer, marking the largest deal in the show’s history.
Post-Investment Outlook
With Bansal’s investment and strategic guidance, NOOE is poised to enhance its market presence and operational capabilities. The infusion of capital is expected to facilitate product development, marketing efforts, and expansion into new markets. Bansal’s experience in scaling businesses will be invaluable in navigating the challenges of growth and competition in the lifestyle accessories sector.
Industry Impact
NOOE’s success on Shark Tank India underscores the growing recognition and demand for design-centric, sustainable lifestyle products in the Indian market. The substantial investment highlights investor confidence in brands that blend aesthetic appeal with functionality and environmental consciousness. This trend reflects a broader shift towards consumer preferences for products that align with sustainable and minimalist lifestyles.
Conclusion
NOOE’s journey from inception to securing a record-breaking investment on Shark Tank India exemplifies the potential of innovative design and strategic entrepreneurship. With the backing of Peyush Bansal, the brand is well-positioned to capitalize on emerging market trends and expand its footprint both domestically and internationally. As NOOE embarks on this new chapter, it serves as an inspiration for aspiring entrepreneurs in the lifestyle and design sectors.