Image Credits: Shark Tank India
Last updated on 29 January 2023. Find out everything about Avimee Herbal hair oil pitch on Shark Tank India, its founders and latest updates about the company!
Avimee Herbal on Shark Tank India
While an 80 years old grandfather found a cure for hair fall with herbal ingredients, Avimee was born.
Here are the key details about the pitch of Avimee Herbal on Shark Tank:
| Business Name | Avimee Herbal |
| Founder | RK Chaudhary |
| Episode no. | Season 02 Episode 17 |
| Ask | ₹2.8 Crores for 0.5% Equity |
| Accepted Offer | No Deal |
| Sharks | NA |
| Current Status | In-business |
Avimee Herbal is an natural cosmetics brand who make Ayurvedic products especially for hair fall and hair care. They are also moving into skin care to expand their catalog.
Avimee has more than 25 unique items but the most popular is Keshpallav Hair Oil, which we found on Amazon (*Affiliate Link):
Or buy it by clicking here: https://amzn.to/3kRNoOH
*Affiliate Link means that we get a certain percentage from the sale when you purchase through our link.
The entrepreneur famil asked for ₹2.8 crores in exchange for only 0.5% equity, valuing the company at whooping ₹560 crores. The money is needed to build their own manufacturing unit.
They started in August 2021 and did ₹6.5 in sales in just 8 months. All of it is through only organic social media and positive word of mouth from the customers. Another wonderful data is that 88% of it is from their own website.
While this is all great, all sharks were confused by the high valuation. The justification also didn’t satisfy them. Here is a sneak peek from the pitch:
Still, Amit & Anupam offered money for 2.5% and 2% with partial debt. But the founders were not happy with loan and countered with 1.5% only. That is enough for our shark investors.
Avimee Herbal left the Shark Tank with no deal. But Peyush advised them to equal stake to the Nanaji because he owned nothing in the business.
About the Founders
Radha Krishna Chaudhary is the original Founder of Avimee Herbal. He is famously known as Nanaji because he is the main creator and star of the show. The company is based in Surat, Gujarat.
Mr Chaudhary is an Ayurveda researcher who has spent many years to find treatments with the help of natural herbs. His first invention is an foot massage oil for his wife.
The star item in it was the Hair fall oil which he made for his daughter but then experimented on himself. Then, he started selling it online and made a family business out of it.
Other co-founders of Avimee are Shakuntala Devi Chaudhary, Siddhant Aggarwal, Ambika Aggarwal, Vinita Aggarwal and Vibhor Aggarwal.
Siddhant is Charted Accountant and the Managing Director of Avimee. His wife Ambika overlooks the marketing. Shakuntala Devi & Vinita handles the production and Vibhor manages the daily operation.
After Shark Tank Updates
RK Chaudhary was a a big superstar on social media which is why he and the family was also invited to Indian Idol as well. The family also thanked Shark Tank for the opportunity. One of their hair sprat was also reviewed by Mira Kapoor (actor Shahid Kapoor’s wife).
The story of RK Chaudhary was also promoted by many big media outlets like YourStory, Hindustan Times and TV9 Gujarati. Even Vivek Bindra wrote a Facebook post about them.
By the way, other businesses featured in this episode are Eyenic and Ekatra.
At last,here is the official company product pitch: “Avimee Herbal is a brand that specializes in natural and herbal Haircare & Skincare products. The brand’s mission is to provide natural and effective Haircare solutions for people of all Hair types.”
Takeaways
So now you know about the pitch of Avimee Herbal on Shark Tank. We wish them all success and long life to Nanaji!
I am Ranish Chauhan a.k.a. Fulmino Fan, and I am also a fan of Shark Tank India.