Indulge’s Shark Tank Journey: A Luxury Concierge Startup Redefining Elite Services

In January 2025, Indulge Global, a Goa-based luxury concierge startup, made waves on Shark Tank India Season 4 with its bold pitch to serve ultra-high-net-worth individuals (UHNIs). Founded by Karan Bhangay and Advita Bihani, the company sought ₹50 lakh for 1% equity, valuing their business at ₹50 crore. Though they left without a deal, their story of delivering a ₹4,000 Diet Coke to the Himalayas captivated audiences and sparked discussions about India’s growing luxury market. This article dives into Indulge’s founder story, financials, funding journey, and its impact on the concierge industry.

Founders’ Vision: From Engineering to Elite Services

Karan Bhangay, an engineering dropout from Jawaharlal Nehru Engineering College, foresaw the potential of luxury concierge services in India. In 2022, he partnered with Advita Bihani, whom he met on LinkedIn, to launch Indulge Global. Bihani’s enthusiasm and Bhangay’s experience in the luxury sector fueled their mission to simplify the lifestyles of UHNIs, defined as individuals with a net worth exceeding ₹30 crore.

Their service operates primarily through WhatsApp, offering 24/7 access to personalized experiences like bespoke travel, exclusive shopping, and event planning. Indulge’s database tracks clients’ preferences, from birthdays to bucket lists, ensuring tailored offerings. Since 2022, the startup has grown from serving three clients to over 180, including industrialists and celebrities like Arjun Kapoor.

Why it matters: Indulge’s focus on UHNIs taps into India’s rising wealth, with Knight Frank’s 2024 Wealth Report estimating 13,200 UHNIs in India, projected to grow 50% by 2028.

Shark Tank Spotlight: A Bold Pitch Falls Short

On Shark Tank India Season 4’s premiere episode, aired January 6, 2025, Bhangay and Bihani pitched their vision to a panel of investors, including Namita Thapar and Peyush Bansal. They highlighted Indulge’s ability to fulfill unique requests, such as delivering a Diet Coke to a remote Himalayan village for ₹4,000 or securing air ambulances during emergencies. The founders reported ₹2.1 crore in revenue for the first seven months of FY24-25, with a ₹60 lakh net profit.

Despite impressing with their client base of 183 UHNIs, the pitch faced scrutiny. Shark Anupam Mittal questioned the financial clarity, stating, “Your numbers don’t match the picture you’re presenting.” Aman Gupta and Vineeta Singh criticized the pitch’s coherence, and Peyush Bansal withdrew after learning billionaire Nikhil Kamath had exited a prior ₹75 lakh seed investment. No deal was secured, but the exposure boosted Indulge’s visibility.

Why it matters: The Shark Tank platform, watched by millions, amplified Indulge’s brand, showcasing the potential of niche luxury services in India.

Financials and Net Worth: A Growing Venture

Indulge’s valuation of ₹50 crore during the pitch reflects its early-stage potential. The startup reported an average client billing of ₹8 lakh in FY24-25, up from ₹5 lakh the previous year. With a lean team of 10 servicing 200 clients at a monthly cost of ₹10 lakh, Indulge projects ₹60 crore in revenue if it scales to 1,000 UHNIs. Exact net worth figures for Bhangay and Bihani remain undisclosed, but their company’s growth suggests a promising trajectory.

A January 2025 report by Inc42 noted Indulge raised $1 million (₹8.6 crore) from investors Gautham Pai and Nikhil Shettar to enhance its tech stack and workforce. This funding, post-Shark Tank, underscores investor confidence despite the lack of a deal on the show.

Why it matters: Indulge’s financial model highlights the profitability of serving India’s elite, a market expected to expand as UHNI numbers rise.

Case Study: Redefining Luxury Concierge Services

Background

Indulge identified a gap in India’s luxury market: UHNIs lacked seamless, tech-driven concierge services. Traditional executive assistants often couldn’t match the speed or exclusivity Indulge offers through its WhatsApp-first model and AI-supported personalization.

Strategy

Indulge’s approach combines technology with human touch. Its app, costing ₹53 lakh to develop, streamlines requests, while partnerships with brands like Hermès and Gucci ensure access to exclusive products. The startup’s two subscription tiers—Indulge Blue (₹50,000/year) and Indulge Global (₹4 lakh/year)—cater to varying client needs.

Results

Post-Shark Tank, Indulge reported a surge in inquiries, with social media engagement spiking. A real-world example: Indulge arranged a rare art piece delivery to a client in London within 48 hours, showcasing its global reach. The startup’s client base, including figures like Kunal Shah, reflects its ability to serve India’s elite.

Why it matters: Indulge’s model sets a benchmark for tech-driven luxury services, challenging competitors like Quintessentially Lifestyle.

Challenges and Future Plans

Scaling Indulge’s operations poses challenges. The high-cost app development and reliance on WhatsApp raise concerns about long-term tech sustainability. Competition from established players like Swiggy’s Rare Club, launched in 2024, could pressure margins. Additionally, the exit of early investor Nikhil Kamath raised red flags for Shark Tank investors.

Looking ahead, Indulge aims to serve 12,000 families globally by 2025, leveraging its $1 million funding to expand in markets like the U.S. and Europe. The startup also plans to deepen AI integration for predictive client servicing.

Quote: “Indulge Global is redefining luxury by blending technology with personalization, catering to a growing segment of India’s super-rich,” said Palak Shah, a startup analyst at Inc42.

Conclusion

Indulge Global’s Shark Tank India appearance, though deal-less, marked a turning point for the Goa-based startup. Founders Karan Bhangay and Advita Bihani showcased a bold vision to serve India’s ultra-wealthy, backed by ₹2.1 crore in revenue and $1 million in fresh funding. Their story underscores the potential of niche, tech-driven services in a country with a burgeoning UHNI population. As Indulge scales, it could redefine luxury concierge services, inspiring entrepreneurs to tap into India’s evolving wealth landscape. For readers, this startup’s journey highlights how innovation and resilience can create global impact, even without a Shark Tank deal.

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Last Updated on: Wednesday, May 7, 2025 3:18 pm by Aarti Kumari | Published by: Aarti Kumari on Wednesday, May 7, 2025, 3:18 pm | News Categories: Latest News India: Breaking News & Top Headlines | News Trail

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