Food Ingredients Company Investment Opportunity in Mumbai, India

- Traditional flavored Indian chutney manufacturer based in Mumbai.

- The business manufactures different flavors of chutney that enhances the taste of the dish.

Reviews on Shark Tank:

- All the judges of Shark Tank, appreciated the taste of the products. Aman Gupta, founder, of BOAT, found the products "excellent"

- Namita, Founder, of Emcure pharma found the packaging very attractive.

- Vineeta, CEO, of Sugar cosmetics told that she will steal a bottle and carry home.

- Anupam Mittal, serial investor, and founder Shaadi. com gave a 10 on 10 to the products.

Business Highlights:

- Company has sold over 1 million products and is available in 5 metro cities like Bangalore, Hyderabad, Mumbai, Delhi and Kolkata.

- Online, it is active on all leading marketplaces in India and Amazon, USA. It will be adding UAE and Europe to its online sales channels soon.

- Since 2 years, the company has grown almost 3 times from about INR 25 lacs MRR to INR 70 lacs as of the end of last year.

- ARR of INR 8.5 crores sold at 63% gross margins.

- Company intends to build a topline of INR 100 crores in the next 24-26 months.

- The company wants to raise an INR 5 crore pre-series around immediately to build the topline to about INR 1.5 crores in the next 6-8 months and reach an ARR of INR 2.5 crores by the end of this year.

Update since Shark Tank 2.

- The company' s monthly revenue increased by 25%.

- The new variants at higher price point has helped improve gross margin (CM1) by 3%

- Shift from online to offline channel has led to lesser control of spending on acquisition (improving CM2)

- New partnerships to build a retail footprint to over 30,000 stores from 1,500 stores.

- Significant improvement in EBITDA.

14 variants of Indian chutney flavors of all states.

- Laptops, the brand.

- Company is asset light.

The office space is a rented, co-working with 8 seats in Kanakia, Boomerang, Chandivali.

- There are three founders in the business.

- The business is currently funded by receivables.

- There is hence a backlog of payments but not higher than receivables.

- Investors have approximately 24.4% shareholding, rest all with 3 founders.