Last updated on 18 February 2024.
Find everything about Goenchi Feni’s pitch on Shark Tank India, founders Yash & Tulika, and the latest updates about the company!
Goenchi Feni on Shark Tank India
Goa is famous for its beaches, and parties but now with its spirit.
Here are the key details about their pitch on Shark Tank:
| Name | Goenchi Feni |
| Founders | Yash Sawardekar, Tulika Sawardekar |
| Episode | Season 3 Episode 10 |
| Ask | ₹1 Crore for 5% Equity |
| Deal | ₹2 Crores for 15% Equity |
| Shark | Deepinder Goyal |
| Status | In-business |
Goenchi Feni makes a spiritous liquor drink that originated in Goa. They say they are the new-age artesian feni brand made in India, from cashew apples and coconut flowers, but no additives or sugar.
While other countries are proud of their spirits, Indian spirit makers are struggling to get the name up, so Goenchi’s founders decided to take matters into their own hands.
They have two products: Coconut Feni, distilled from Double distilled from coconut flowers, and Cashew Feni made from Goan cashew apples. Cashew has a bigger market as of now.
The pitchers wanted ₹1 crore in investment for 5% shares in the business. The funds will be used to expand the brand to new audiences
Anupam mentioned he had a similar idea about starting such a local brand but now he has the opportunity to invest in one of them. But the biggest hurdles were the low market size and smaller gross margin. That’s why Aman and Namita were out.
Deepinder advised them to make the price more premium and use the margin for marketing. He offered two deals, ₹1 crore for 10%, or ₹2 crore for 15%. He was more excited about creating a category and making an Indian drink stand out from the rest.
That looks the best thing for the pitchers, but they wanted to deny it at first. All the other sharks were shocked and they instantly jumped in to tell them to not do it. The pitchers agreed but Deepinder then was a little hesitant to move forward.
He talked with Anupam and now the only offer on the table was for ₹2 crore for 15%. Aman tried to handle the situation but now Deepinder was not to change it
Watch the full pitch here:
Goenchi Feni got ₹2 crore investment for Deepinder Goyal in return for 15% equity at Shark Tank India.
About The Founders
Siblings Yash and Tulika Sawardekar are the co-founders of Goenchi Feni.
They both grew up in Mumbai but later connected with their ancestral roots during the pandemic. They discovered this dying art of feni and decided to bring it to the people once again. Goenchi Feni started in April 2022 and launched their first product in April 2023.
After Shark Tank Updates
The founders were happy with the deal and they even took the suggestion by Anupam to improve their storytelling and packaging.
By the way, other businesses featured in this episode were Arata hair care products and VECROS AI Drones.
Read more about Feni, from their official website: “Feni has been crafted for centuries through techniques passed down from father to son. This ancient wisdom has survived monarchies, colonialism, and even modernism. Our Feni is the embodiment of this spirit of resilience. With our ancestors watching over us, Feni Konnank Bhienam – Feni Fears None.”
Takeaways
So now you know about what happened in the pitch of Goenchi Feni at Shark Tank India. This will be a pitch to remember in this season.
And if you don’t know who I am? I am Ranish Chauhan a.k.a. Fulmino Fan, a Fan of the Shark Tank show.