Kalam Labs pitches near-space vehicles at a Rs 300 crore valuation; here’s how Aman Gupta responded

Kalam Labs, a near-space aerial vehicle research startup founded by three BITS Pilani graduates, drew admiration on Shark Tank India Season 5 as its futuristic pitch collided with tough valuation.

The founders—Ahmad Faraz, Sashakt Tripathi, and Harshit Awasthi sought Rs 2 crore for 0.67% equity, valuing the company at Rs 300 crore.

Kalam Labs develops near-space aerial vehicles capable of operating at altitudes of up to 43 kilometres, positioning them as a cost-effective alternative to satellites. During the pitch, the founders showcased footage of their launches and explained that the vehicles have been deployed for weather monitoring by the India Meteorological Department (IMD) and for surveillance-related applications with the Indian Army.

The founders stated that Kalam Labs has completed over 60 launches, filed a patent, and is in the process of executing a Rs 1 crore order, with potential defence procurement expected to begin at Rs 150 crore. They also revealed that the company initially started as a space-focused learning platform before pivoting fully into near-space missions.

Despite reservations, Anupam Mittal made an offer of Rs 2 crore for 2% equity, later joined by Aman Gupta, who praised the founders for choosing to build deep-tech innovation in India rather than pursuing overseas careers.

After a series of competitive counter-offers and exchanges between the two Sharks, Aman Gupta made a final offer of Rs 2 crore for 1.25% equity, which the founders accepted.