Shark Tank India Season 4 Episode 4: Gudworld - Bringing Hygienic Jaggery to Your Table
Meet the Founders
Gudworld, a startup revolutionizing the way we consume jaggery, was founded by Preeti Prabhakar Shinde and Sayali Babasaheb Shinde from Chhatrapati Sambhaji Nagar, Maharashtra. Their mission is to provide pure, hygienic, and conveniently packaged jaggery with a shelf life of one year.
The Pitch
The founders of Gudworld entered the Shark Tank seeking ₹50 lakh for 2% equity, valuing their business at ₹25 crore.
What Makes Gudworld Special?
- Jaggery in Convenient Servings: Available in 5-gram and 10-gram servings.
- 12 Infused Flavors: A variety of flavors catering to different taste preferences.
- Available Online & Offline: Sold through general trade, modern trade, e-commerce, exports, and HoReCa (Hotels, Restaurants, and Catering).
- Expanding Retail Presence: Available in ~2800 retail stores across 6-7 states.
- China is the Biggest Importer of Jaggery: Indicating a potential global market.
Business Performance
- Started in 2021
- Lifetime Sales: ₹2 crore+
- FY23-24 Sales: ₹1.48 crore
- FY24-25 (Till October) Sales: ₹2.2 crore
- Projected FY24-25 Sales: ₹6-7 crore
Recent Monthly Sales Growth
- August 2024 → ₹37 lakh
- September 2024 → ₹48 lakh
- October 2024 → ₹99 lakh
Sales Channel Split
- General Trade: 45%
- Modern Trade: 15%
- E-commerce & Own Website: 15%
- Exports: 20%
- HoReCa (Hotels, Restaurants, Catering): 5%
Unit Economics (MRP: ₹89)
- GST: 5%
- Raw Material: 15%
- Inward Logistics: 3%
- Packaging & Labeling: 2%
- Distributor Margin: 30%
- Employee Benefit Expenses: 18%
- Shipping: 6%
- Marketing: 4.8%
- Other Expenses: 2%
- EBITDA: 14.2%
Equity Split
- Preeti Shinde → 45%
- Sayali Shinde → 25%
- Family Members → 30%
Shark Offers & Negotiation
- Aman Gupta offered ₹50 lakh for 6% equity.
- Varun matched Aman's offer.
- Peyush Bansal, Vineeta Singh, and Anupam Mittal were out of the deal.
- Founders countered with ₹50 lakh for 3% equity.
- Varun dropped out, leaving only Aman in the race.
Final Deal
- Aman Gupta closed the deal at ₹50 lakh for 5% equity, valuing the company at ₹10 crore.
Conclusion
Gudworld impressed the sharks with its innovative and hygienic approach to jaggery consumption. Despite not securing their initial valuation, they successfully onboarded Aman Gupta, which will help them scale their business and expand their reach in the competitive market.
Stay tuned for more exciting pitches from Shark Tank India Season 4!