Tripole Secures Investment in Shark Tank India Season 4, Episode 6
Introduction
In the latest episode of Shark Tank India (Season 4, Episode 6), Rohan Khanduja, the founder of Tripole, presented his innovative rucksack and travel gear brand. Based in Delhi, Tripole specializes in rucksacks, backpacks, sleeping bags, apparel, and travel accessories with a strong emphasis on affordability, durability, and in-house manufacturing.
Sharks in the Show
The panel of sharks in this episode included:
- Namita Thapar
- Aman Gupta
- Anupam Mittal
- Ritesh Agarwal
- Kunal Bahl
About Tripole
- Founder: Rohan Khanduja (Young Male)
- Location: Delhi
- Industry: Travel Gear & Accessories
- Established: 2017
- Core Product: Rucksacks (Initially contributed 100% of sales in the first two years, now contributing 70% of sales)
- Other Products: Backpacks, Sleeping Bags, Apparel, Travel Accessories
- Warranty: 5 years
- Business Model: Bootstrapped
- Personal Investment: ₹15 Lakhs
Sales & Revenue
- SKUs: 250
- Sales Channels:
- Domestic (80%)
- Marketplace: 68%
- Offline: 12%
- International (20%)
- Revenue Figures:
- ₹14.2 Cr in FY23-24
- ₹11 Cr in FY22-23
- Projected Sales for FY24-25: ₹20 Cr
- Average Monthly Sales (Last 3 Months): ₹1.6 Cr
Sales Breakdown
- 70% Rucksack
- 10% Backpack
- 6% Waist Pack
- 6% Apparel
- 8% Miscellaneous
Financial Breakdown
- COGS (Cost of Goods Sold): 53%
- Marketplace Commission: ~29%
- Advertisement Cost: 9%
- Overheads: 3%
- EBITDA: 6%
- Average Order Value: ₹1,525
The Pitch
Ask:
₹1 Crore for 1% Equity (Valuation: ₹100 Cr)
Sharks' Offers
Namita Thapar
- Offer 1: ₹50 Lakhs for 1% equity + ₹50 Lakhs at 9% interest for 3 years
- Offer 2: ₹1 Crore for 1.5% equity + 1% royalty until ₹1 Crore is recouped
Anupam Mittal
- Opted out due to the lack of a community-driven brand
Ritesh Agarwal
- Initial Offer: ₹60 Lakhs for 1% equity + ₹40 Lakhs debt at 9% interest for 5 years (Valuation: ₹60 Cr)
- Revised Offer: ₹75 Lakhs for 1.15% equity + ₹25 Lakhs debt at 9% interest for 5 years (Valuation: ₹65.22 Cr)
Kunal Bahl
- ₹3 Crore for 7.5% equity (Valuation: ₹40 Cr)
Aman Gupta
- Opted out due to the high valuation
Founder’s Counteroffer
₹75 Lakhs for 1% equity for all sharks (Valuation: ₹75 Cr)
Final Deal
Rohan Khanduja accepted Ritesh Agarwal’s revised offer:
- ₹75 Lakhs for 1.15% equity
- ₹25 Lakhs debt at 9% interest for 5 years
- Final Valuation: ₹65.22 Cr
Conclusion
Tripole, a fast-growing rucksack and travel gear company, secured funding from Ritesh Agarwal to scale its operations. With strong sales figures, a well-diversified product line, and projected revenue growth, Tripole is set to expand its reach in the Indian and international markets.
Stay tuned for more exciting Shark Tank India updates! 🚀