Green Protein

Madhvi Datwani (Co-founder & CEO) is a lawyer by profession who practiced for two years before finding law insufficiently engaging and pivoting into entrepreneurship. She practiced law for 2 years, but it wasn't giving her much kick. She took a break from it and later started her entrepreneurship journey. Her animal welfare concerns drove the vegan, cruelty-free product philosophy. Parag Khimani (Co-founder) is a New York business graduate whose Jain dietary practice which excludes meat, eggs, and often dairy created a genuine protein gap that conventional "healthy" Indian foods (paneer, lentils) could not adequately fill for an active sportsperson. Parigna Thorat (Co-founder) brings the lactose intolerance and dairy allergy perspective one of India's most commonly undiagnosed conditions that affects a significant proportion of the population and creates painful consequences from whey protein consumption.

Green Protein is India's first family-inclusive plant-based protein beverage brand producing vegan, cruelty-free, dairy-free protein sachets made from 100% pea protein isolate (the cleanest, most bioavailable plant protein source), brown rice protein, and hemp protein, available in nine flavours across two categories (Sport and Regular), coloured naturally from cumin, beetroot, and other functional ingredients, dissolving easily in water without a blender — targeting the vast Indian market of vegetarians, vegans, Jain dietary practitioners, lactose-intolerant individuals, and health-conscious families who want high-quality protein supplementation without whey or animal products.

Amount Asked: ₹60 lakhs Equity Offered: 2% Implied Pre-Money Valuation: ₹30 crore

Green Protein's pitch was the third of Episode 34 (Finale Week Day 4) arriving after Nomad Food Project's four-Shark deal and Twee in One's "doglapan" controversy with something more quietly purposeful: three friends who needed better protein, found nothing suitable, and built it themselves. The founding story Madhvi's veganism journey, Parag's Jain protein struggle, Parigna's dairy allergy communicated consumer need from three distinct personal entry points that collectively represent a massive Indian consumer segment: vegetarians, vegans, Jains, lactose intolerant individuals, and fitness-conscious families. The product sampling each Shark tasting the fruit-flavoured protein sachets mixed in water was the pitch's most direct commercial test. Namita's exit (she didn't like the taste) was the most consequential sampling-based Shark exit of Season 1 a medically and commercially informed Shark declining to invest because the product's core sensory experience did not meet her standard.

Ashneer Grover exited on founder hunger grounds. Ashneer Grover was out because he thought there was not much hunger in the founders to make this brand successful. All 3 founders are doing well in their respective lives. Namita Thapar exited on taste grounds the most direct sensory product rejection of Season 1. Namita goes out because she did not like the taste of their products. As a pharmaceuticals industry executive who both evaluates health products clinically and is a regular consumer of health supplements herself, Namita's taste rejection carries more weight than a non-health-industry Shark's aesthetic preference. Peyush Bansal exited on organisational structure grounds. Peyush goes out due to complex structure of the organization. A three-equal-founder structure with each having invested ₹30 lakh — without a clear CEO seniority, decision-making hierarchy, or operational differentiation was the governance concern Peyush identified. X Ghazal Alagh, Vineeta Singh, and Aman Gupta formed the investing coalition offering ₹60 lakhs for 20%. Anupam Mittal made a competing solo offer at 15%.

Ghazal, Vineeta, and Aman join hands to make an offer: ₹60 Lakhs for 20%. Anupam gives a solo offer of ₹60 Lakhs for 15%. The founders counter at ₹60 Lakhs for 5%. Ghazal, Vineeta, and Aman counter with ₹60 Lakhs for 15%. Anupam revised his offer to ₹60 Lakhs for 13%. The founders declined and left without a deal.

no final deal