Image Credits: Shark Tank India
Last updated on 07 February 2023. Check everything about the pitch of Blue Tea on Shark Tank India, the founders, and the latest updates about the company!
Blue Tea on Shark Tank India
Nitesh & Sunil thought of innovating in the regular Tea world by making something out of the blue.
Here are the key details about the pitch of Blue Tea on Shark Tank:
| Business Name | Blue Tea India |
| Founders | Nitesh Singh, Sunil Chandra Saha |
| Episode no. | Season 02 Episode 26 |
| Ask | ₹75 Lakhs for 1% Equity |
| Accepted Offer | ₹50 Lakhs for 3% Equity & Debt |
| Sharks | Aman Gupta |
| Current Status | In-business |
Blue Tea makes special flower-based tea with the benefits of Ayurveda. The name comes from the blue color of the beverage. They claim it to be a good alternative to green tea by not being bitter.
If you want to try the butterfly pea tea yourself, which we saw in the episode, here is a perfect pack for beginners we found on Amazon (*Affiliate Link):
Or buy it by clicking here: https://amzn.to/3Yid3is
*Affiliate Link means that we get a certain percentage from the sale when you purchase through our link.
The entrepreneurs were only ready to give a 1% stake in their business for ₹75 lakhs. They want to make it the number 01 herbal tea brand in the world.
There are 50 flavors sold by them in 12 countries worldwide, where 80% of the sales are from outside India. The FY 2021-22 revenue was ₹10 crores.
Sharks were really impressed by the packaging and the taste. But Anupam questioned them directly about calling themselves the first blue tea company because it was available in the USA for many years.
As the pitch progressed, confusion grew over marketing, channels, and ingredients, which frustrated the sharks a lot. Anupam, Vineeta, and Amit were out for the same reason. Only Aman made an offer.
Here is a small glimpse of the full pitch:
Blue Tea successfully closed a deal on Shark Tank with Aman Gupta for 50% Lakhs for 3% equity and the rest as debt.
Who are the founders of Blue Tea?
Blue Tea India was founded by Nitesh Singh and Sunil Chandra Saha. Both of them hold an MBA degree. Their startup is headquartered in Faridabad, Haryana.
Sunil is the main CEO who manages the team and Nitesh looks at all the other operations. They directly buy the flowers from the farmers and their vision is also to uplift 1000 of them by 2025 by switching them from painful traditional farming.
And according to a YourStory interview, both of them were inspired by the TVF Pitchers. They first sourced them from Thailand but then started growing them in India when the demand grew.
After Shark Tank Updates
The joy of getting a wonderful deal on the tank was shared with the customers by giving a 5% discount offer on the website. Let’s see if they get to their ₹30 crores mark in 2023.
By the way, other businesses featured in this episode were Gavin Paris and Unstop.
In the end, you can read their official product pitch: “Blue Tea is an India-based premium Tea brand which provides World’s freshest Herbal Tea from farms to cups in just 2 weeks. We focus on tea produced from flowers and some of our tea flavors are Butterfly Pea, Chamomile, Rose, Jasmine, Hibiscus, Lavender, etc.”
Takeaways
So now you know about the pitch and latest updates of Blue Tea on Shark Tank. We wish them success!
I am Ranish Chauhan a.k.a. Fulmino Fan, and I am also a fan of Shark Tank India.