Tonight, on Shark Tank Australia, it was a night of firsts, with the first ever pitch in song, and the first artificial intelligence product was pitched.
First into the Tank to face the Sharks, was Sydney-based husband and wife team, Rachel and Brad Cohen. Their product, the Catchy, is a world-first food catcher for highchairs and had already sold 50,000 units to over 60 countries across the world. Seeking $300,000 in exchange for 2% of their business, the entrepreneurs shocked the Sharks with the revelation that the company already has investors on board. After interest from four Sharks Sabri, Jane, Robert and Davie, it was Davie and Robert who teamed up and cemented a $300k for a 5% share, with royalties to be paid until the investment is paid back.
Next up was Akanksha Sidha ,who flew from Perth with a business idea that’s come from much further afield. Excited to bring the world one of the most ancient forms of embroidery from India with her clothing line KAASIDA, Akanksha was seeking $35,000 for 10% equity. With high costs and low sales, Sharks Sabri, Davie, Robert and Jane were out, and her dreams of an investment were hanging by a thread. After a teary offer and counter-offer, a deal was struck with Catriona at $35,000 for 30% of KAASIDA.
Hoping to sing and dance their way to a perfect pitch were Sydney children’s entertainers Laura, Mim and Michael. Together, the trio are ARIA-nominated children’s music group The Beanies, and were seeking an entertaining $150,000 for a 10% share of the business. Hailed “the best pitch of Shark Tank Australia ever” by OG Shark Robert Herjavec, he teamed up with fellow Sharks Davie and Jane, for a 50% stake of the business, at the asking price, with the option to buy back in the future. Now that’s something to sing about.
Unfortunately, missing out on an investment tonight, was AI Toolkit, an AI-powered toolkit designed to save teachers countless hours of lesson preparation, marking assessments, and writing report comments.