Episode 37 of Shark Tank India aired with sharks—Anupam Mittal, Namita Thapar, Aman Gupta, Ritesh Agarwal, and Amit Jain. The episode begins with a pitch from the founders of Sama, an online dispute resolution platform. Pranjhal Sinha, Akshetha Maithri Ashok, and Vikram Kumar pitched their idea in front of sharks and sought an investment of $1.20 thousand (1 Crore) for 1% equity.
Sama is an online dispute resolution (ODR) platform that facilitates online legal dispute resolution. With a vision of out-of-court settlements, Sama follows the process of online arbitration and mediation to solve disputes. Founders highlighted that Sama’s legal community consists of 3,000 plus arbitrators and mediators who have solved around 3.5 million cases to date.
Further, they claimed that Sama only takes up to 3 months to solve the dispute. With their tagline “Suljhao Magar Pyaar Se” (Resolve it with love), they presented a demo to the sharks showcasing the platform’s functionality. In 2019, Sama clinched victory in the E-ADR challenge organized by ICICI Bank and Agami and then secured a contract with ICICI Bank as their ODR partner.
After deliberation, the founders sealed the deal with sharks Aman, Namita, and Ritesh, agreeing to a $120K investment for 1.5% equity.
Sama Legal on Shark Tank India season 3: Everything you need to know
To become a Mediator in Sama, a candidate must undergo three essential steps—ODR training, a psychological interview, and three months of coaching. According to the founders, the platform’s biggest use cases include loans, insurance, and e-commerce disputes.
Compared to the 31% legal cost incurred in court disputes, Sama charges a nominal fee depending on the claim amount. The Sama’s claim amount slab has been given below:
- Up to $1207 (1 lakh) — $12 (Rs. 1,000)
- $1207 – $2414 (1 lakh – 2 lakh) — $18 (Rs. 1,500)
- $2414 – $3621 (2 lakh – 3 lakh) — $24 (Rs. 2,000)
- Up to $24K (20 lakh) — up to $48 (Rs. 4,000)
Sama’s platform offers various dispute resolution services such as Online Mediation, Online Arbitration, and Online Lok Adalat.
Individuals can visit their official website if they are interested in availing of Sama’s services. Stay tuned for more updates related to Shark Tank India.
