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“Not delayed funding, it’s a regular course of funding”: Aman Gupta

Aman Gupta, boAt co-founder, responded to accusations of delayed investments and not meeting show obligations.

NEW DELHI: Business reality show Shark Tank India judge and boAt co-founder Aman Gupta has stated that due diligence is and will be an essential aspect of supporting startups amid controversies and reports of delayed funding even after deals are reached on the show.

Gupta stressed that there will be no quick money and that proper procedures and checks will be done before funding.

“If someone thinks it’s easy money, that rich businessmen are cutting cheques, this was a misconception that has been cleared,” Gupta told PTI in an interview.

He and other “sharks” acquired their money via hard labour and determination, and he promised to follow necessary checks.

“We have earned the money with hard work and we will not just give our money without due diligence,” Gupta said. Shark Tank India has promoted entrepreneurship and companies in India. He claimed families watch the show today.

“It is not delayed funding, it is a regular course of funding and for every entrepreneur it takes time,” Gupta said in response to accusations of delayed investments and not meeting show commitments.

He said that boAt’s initial capital raise began in 2016 but funded in 2018.

“No cheque in an hour.” Funding companies requires due diligence. Unformed companies exist. The founder’s show claims about governance must be verified. “We don’t want to invest in a company where we find out the founder is a fraud,” he stated.

Gupta is delighted the myths are being corrected before the show’s second season. “This is excellent because Season 3 is commencing. Next month I shoot. People should realise they won’t obtain money immediately. He promised due diligence, boss.

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