Paradyes

Yushika Jolly is the founder and CEO of Paradyes. She did her Bachelor's degree in Fashion Design from NIFT and her Master's from the London University of Arts. Her family is already in the dye manufacturing sector, so running a business was in the genes. Siddharth Raghuvanshi is the co-founder and COO of Paradyes, and also the husband of Yushika. They both met on Tinder. Yushika manages the design and marketing, while Siddharth overlooks the finances. Siddharth completed his schooling in Ahmedabad and pursued an MBA in Pune, then worked with Siemens Financial Services before relocating to Ahmedabad due to family reasons and co-founding Paradyes with Yushika.

Paradyes is India's first D2C semi-permanent hair colour brand, offering 20 plus bold, fun, and safe shades that last 8 to 10 washes, targeting the 18 to 28 year old Indian consumer who wants to experiment with hair colour without the long-term commitment, chemical damage, or high salon cost of permanent colour. The semi-permanent format is the product's most commercially important differentiation. Conventional permanent hair colour requires bleaching, uses strong chemical developers, and lasts until hair grows out a six-month-plus commitment. Semi-permanent colour fades gradually with washing, requires no bleaching for light-coloured base hair, and causes minimal damage.

Amount Asked: ₹65 lakhs Equity Offered: 1% Implied Pre-Money Valuation: ₹65 crore

Yushika and Siddharth entered the Tank with Paradyes' visual identity fully on display — bold coloured hair on Yushika herself serving as the most immediate product demonstration possible. The pitch opened with the core consumer insight: if changing everything is easy, why is changing hair colour considered so difficult or taboo? The brand's social media content was shown to the Sharks directly, and the Instagram engagement quality impressed the panel immediately. Peyush Bansal called Paradyes a "category-creation business" one of the most commercially validating Shark labels in Season 2, suggesting he saw Paradyes not just as a product but as the brand that would create and own the semi-permanent hair colour category in India.

Peyush Bansal was the first to make an offer of ₹65 lakhs for 5% equity, calling Paradyes a category-creation business Vineeta Singh was personally aligned with the product as a beauty industry founder whose own office employees used hair colour regularly. Anupam Mittal co-offered with Vineeta at ₹65 lakhs for 4% equity and was involved in the deal until the founders revealed they specifically wanted Vineeta and Aman without him. Aman Gupta offered ₹65 lakhs for 5% equity independently and was one of the two Sharks the founders specifically wanted in their final deal. Namita Thapar did not make an offer in Season 2 Episode 9 sources indicate she was either not present in this episode's recording or passed without offer.

Peyush offered ₹65 lakhs for 5% equity. Vineeta and Anupam jointly offered ₹65 lakhs for 4% equity. Aman offered ₹65 lakhs for 5% equity independently. The founders countered at ₹65 lakhs for 3% but with a specific condition: they wanted Vineeta to come on board with Aman rather than with Anupam. This condition explicitly excluded Anupam from the deal despite his having made an offer. Anupam called it a dirty game and withdrew. Peyush also backed out after witnessing the founders' determination to exclude Anupam. Aman and Vineeta then negotiated the final deal at ₹65 lakhs for 2% equity at ₹32.5 crore valuation.

Yushika Jolly and Siddharth Raghuvanshi accepted Aman Gupta and Vineeta Singh's joint offer of ₹65 lakhs for 2% equity, valuing Paradyes at ₹32.5 crore. The founders achieved a significant valuation improvement from the original ₹65 crore ask (which they set as an anchor) down to ₹32.5 crore still the highest deal valuation in Season 2 Episode 9. The deal was accompanied by significant public controversy after the episode aired, with Yushika facing criticism for specifically excluding Anupam from the final deal structure.