Image Credits: Shark Tank India
Last updated on 09 March 2023. Find everything about the pitch of Lil Goodness chocolates & puffs on Shark Tank India, its founders, and the latest updates about the company!
Lil Goodness on Shark Tank India
Two Dads wanted to give a better alternative to their favorite kid’s junk snacks. Lil Goodness became the final product.
Here are the key details about their pitch on Shark Tank:
|Founder||Harshavardhan Saseendran, Damanbir Singh|
|Episode||Season 2 Episode 48|
|Ask||₹1 Crore for 1% Equity|
|Deal||₹50 Lakhs for 1% Equity + Debt|
Lil Goodness makes prebiotic food items, especially for kids and young people in India. They have Chocolates with less sugar & benefits of Haldi, Superpuffs, and tasty Milkshakes. Many celebrities like Genelia Deshmukh and Sania Mirza have loved their products.
Here is an 8-pack chocolate set from the show with 4 different flavors (Fruit, Dark, Milk, Orange) on Amazon (*Affiliate Link):
Or Buy it by clicking here: https://amzn.to/3J4B0mT
Or you can try this 18-pack of Dark Chocolate with Marvel heroes on the packaging, available on Amazon (*Affiliate Link):
Or buy it by clicking here: https://amzn.to/3F91tOY
*Affiliate Link means that we get a certain percentage from the sale when you purchase through our link.
The ask was for ₹1 crore in return for just 1% equity.
While the product is another ‘healthier’ snack, as pointed out by Anupam, it got a lot of traction from sharks, but there was nothing so much different in it.
But the pitch explained that a completely healthy option is not viable in the Indian market because it will increase the cost and it might not satisfy Indian tastebuds.
The sales were already in crores per month but the loss was also in lakhs. They had also diluted about 3/4th of the business by just raising the funds.
Everyone got out except Peyush but he wanted to go with half of the valuation that was asked.
Watch the Episode Teaser here:
The pitchers from #Rubans, #SameNotification and #LilGoodness will unravel their out-of-the box ideas and innovations tonight. Stay tuned for the episode.#SharkTankIndia season 2 streaming now on Sony LIV, also available on Sony Entertainment Television. pic.twitter.com/IASSjHnkOX— Shark Tank India (@sharktankindia) March 8, 2023
Lil Goodness accepted a deal from Peyush Bansal on Shark Tank India. He invested ₹50 Lakhs for a 1% stake and another half in debt with 10% interest.
About The Founders
Harshavardhan Saseendran and Damanbir Singh are the co-founders of Lil Goodness. The company is registered under Happytizers Pvt Ltd in Banglore, Karnataka.
Harshvardhan got his BE degree from NSIT Delhi and MBA from IIM Calcutta. He was also a classmate of shark Peyush from Don Bosco School, and a mentee of shark Vineeta.
After working for Honda and McKinsey for a few months, he becomes a successful employee of Tata Group. He was part of TAS, Tata Industries, and Tata Health for about 8 years before starting Lil Goodness.
The other co-founder Damandir also has an MBA in Sales & Marketing. He met Harshavardhan when both were in Tata Health. Then these two dads went on a mission to find something healthier for their kids. Both launched this startup in March 2020.
After Shark Tank Updates
The company has already raised ₹5 crores in May 2020 from Beyond Next Ventures and later from Venture Catalysts. Now with the guidance of Peyush, they will focus more on branding and focusing on the product first.
In July 2022, Lil Goodness partnered with Sikkim State Government’s brand Sikkim Supreme to introduce a new variety of snacks for them. The government will distribute its product in 200 retail stores and its own website.
In September 2022, the brand got Former Miss India Namrata Shirodkar and her daughter for brand promotion.
As mentioned in the Shark Tank India pitch, Lil Goodness has got a license from Disney to introduce a new lineup of Marvel-themed Chocolates. These got introduced in December 2022.
By the way, other businesses featured in this episode were Rubans Jewelry, the Same Notifications App, and Bottom Line Portable Jet Sprays.
At last, here we found their official company pitch: “Lil’Goodness is a kid’s food and nutrition startup transforming how our future generations experience good nutrition. Our products are scrumptious, great for gut health, and strive to transform healthy snacking for generations to come.”
So now you know about Lil Goodness’s pitch on Shark Tank and will the investment by Peyush helped them or not.
I am Ranish Chauhan a.k.a. Fulmino Fan, and I am also a fan of Shark Tank India.