Delhi-based entrepreneur Nikunj Walia finally got his moment on Shark Tank India 5 after facing repeated rejections over the years. However, his long-awaited entry did not end with an investment. Instead, it turned into a hard reality check.
Nikunj is the founder of Wrestlefanent, a fan engagement platform built around his love for wrestling. The idea aims to bring wrestling fans together through festivals, gaming leagues, celebrity interactions and community events. The company also works on B2B content creation. For Nikunj, this was more than a startup. It was a passion-driven dream.
Making a dramatic entry on Shark Tank India 5 stage, Nikunj introduced himself as a “legend who turned rejection into hustle.” His high-energy walk-in caught everyone’s attention. Reacting to his style, Aman Gupta immediately called him “Pagal aadmi (mad man)”
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Shark Tank India 5: Nikunj Walia’s Pitch Under The Scanner
During the pitch, Nikunj revealed that he had applied to Shark Tank India for four consecutive years before finally making it this season. He asked for Rs 75 lakh in exchange for 10% equity, valuing Wrestlefanent at Rs 7.5 crore.
However, the Sharks soon began questioning the business fundamentals. When Kunal Bahl asked about the actual size of the wrestling fan base and how the company planned to monetise it, Nikunj struggled to give clear, data-backed answers. Instead, he spoke broadly about market potential.
Vineeta Singh pointed out gaps in Nikunj’s understanding of revenue and scalability. Namita Thapar also asked for comparisons with similar live-event businesses, but the founder failed to provide strong benchmarks. This made the Sharks doubt whether the business was ready for investment.
Sharks Say No Deal, Share Honest Feedback
Despite appreciating Nikunj’s passion and persistence, the Sharks decided to back out. They felt Wrestlefanent was not investible in its current form. The panel advised him to focus more on live events and strengthen the core business instead of spreading his efforts across multiple areas.
Explaining his decision, Aman Gupta said, “I always recommend people to stay happy. It’s important to convert this passion into a business, but you need to do something to make this investible. As of now, it lacks this, so unfortunately, I am out.”
Nikunj left the tank without a deal but gained valuable feedback that could help him refine his startup journey.
Meanwhile, Shark Tank India 5 continues to deliver intense pitches and strong reactions. Kunal Bahl is reportedly leading this season with investments worth Rs 10.31 crore, followed by Anupam Mittal, Namita Thapar and Aman Gupta. The show airs on Sony TV and Sony Liv from Monday to Friday at 10 pm.
