Corel Lifecare, an aquaculture inputs startup, secured investment on national television after a focused pitch that highlighted its science-led solutions, farmer-first diagnostics and positive unit economics. The founders demonstrated revenue traction, domain expertise and a clear plan to scale research-driven pond health products for fish and shrimp farmers.
A founder-led, diagnostic-first approach
Founded by Nikhilesh Hajare, Abhijeet Naohate and Rohit Patel, Corel Lifecare supplies mineral blends, probiotics, oxygen enhancers and other pond-health formulations tailored to aquaculture needs. Rather than offering off-the-shelf remedies, the company follows a diagnostic-first model: field teams assess pond conditions and specific production challenges, then recommend customised interventions.
This close alignment between the founders’ technical experience and farmers’ on-ground problems was a central theme of their presentation. Investors on the show noted that such “founder–market fit” is often decisive for scaling agritech businesses in complex sectors like fisheries and aquaculture.
Business model, traction and financials
Corel operates on a B2B2C model, distributing through dealers and distributors while retaining direct engagement with farmers. Its product portfolio exceeds 11 SKUs, and the company reported steady revenue growth—approximately ₹2.3 crore by October 2025, with projections near ₹6 crore for the full financial year.
Crucially for investors, the startup was EBITDA positive at the time of the pitch. The founders sought ₹1.2 crore for 2% equity, proposing to channel funds into research and development to improve product efficacy and expand the range.
Negotiation, deal structure and rationale
The valuation prompted robust discussion on the show. Some Sharks suggested royalty or revenue-share structures, pointing to the capital-efficient nature of input manufacturing and distribution. The founders countered that royalties could limit long-term innovation and constrain farmer outreach.
After multiple offers and counters, investors Anupam Mittal and Kunal Bahl proposed a joint bid. The parties agreed to a deal of ₹1.2 crore for 8% equity—setting a post-money valuation of ₹15 crore. While lower than the founders’ initial valuation, they accepted the terms to gain strategic mentorship and operational support from experienced backers.
Implications for India’s aquaculture and agritech ecosystem
The investment in Corel Lifecare underscores growing investor interest in scientific, scalable inputs for aquaculture. India is among the world’s largest producers of fish and shrimp, and improving pond health through evidence-based products addresses productivity, sustainability and disease-resilience concerns across the sector.
More broadly, the startup’s trajectory highlights a shift in Indian entrepreneurship: deep domain knowledge, demonstrable unit economics and field execution are increasingly prized alongside growth potential. With fresh capital and mentor support, Corel Lifecare is positioned to expand distribution, deepen farmer trust and contribute to the modernisation of India’s aquaculture value chain.
