Image Credits: Shark Tank India
Last updated on 11 January 2023. Find out everything about the TeaFit pitch on Shark Tank India, founder Jyoti Bharadwaj with the latest updates about the company!
TeaFit on Shark Tank India
Starting in 2019, The idea of TeaFit came from many popular South-Asian and Japanese drinks.
Here are the key details about the pitch of TeaFit on Shark Tank India:
|Episode no.||Season 02 Episode 06|
|Ask||₹50 Lakhs for 3% Equity|
|Accepted Offer||₹50 Lakhs for 8% Equity|
|Sharks||Aman Gupta, Vineeta Singh, Anupam Mittal, Peyush Bansal|
TeaFit is a zero-sugar beverage brand, specially made for kids. There is no sweetener in the iced tea, which is brewed with barley, green and black tea. There are also 15 herbs in the drink. Overall, it has very less calories.
The products are also available in all major online marketplaces and 200+ stores around India. Here is their perfect starter combo pack that you can get from Amazon (*Affiliate Link):
Or buy it by clicking here: https://amzn.to/3GBJLn4
*Affiliate Link means that we get a certain percentage from the sale when you purchase through our link.
The founder asked for ₹50 lakhs for just 3% stakes in TeaFit. She came with her two sons, Arastu and Agastya Priyedarshi, who started the actual pitch. This made it one of the cutest pitches of the show.
You can check a small part of it in the below video:
All the sharks were impressed with the story of the entrepreneur. But there were also a lot of doubts about the premium price for just one bottle.
The sales for FY2021-22 were ₹15.5 lakhs with around 5% in net profits.
These good numbers made Vineeta & Anupam give an offer of 25%. Peyush also jumped in for 20%. But both were instantly countered by Aman for just 10%. But then everyone joined hands after the pitcher’s request.
In the end, sharks Aman Gupta, Vineeta Singh, Aman Gupta, and Peyush Bansal closed the deal with TeaFit for 8% equity by investing ₹50 lakhs.
About the Founder
Jyoti Bharadwaj is the founder of TeaFit. Her startup is based in Mumbai, Maharashtra. TeaFit is part of Battlestar Food Technology, which is the parent company.
Talking about the entrepreneur, Jyoti did an MBA in Finance & Marketing from the Indian School of Business. She had also worked as a Business Head at Housing.com. After 3 years, she then started her own thing with TeaFit. Her mother was the first to invest in her idea.
Her story was also part of Inc42’s Top Startups in June 2021.
After Shark Tank Updates
TeaFit saw a huge growth in orders that came from Amazon and the website after the episode aired. This made them open up WhatsApp for direct orders for all the new customers.
They have also started instant premixes with Ginger and Cardamom tea flavors which are easier to ship and store. There are also plans for simple drinks in an affordable price range.
By the way, other businesses featured in this episode were Haqdarshak and Bhaskar’s Puranpoli Ghar.
Now, we finish this article with the official company pitch: “TeaFit was built out of this thirst for refreshing beverages that aren’t sickly sweet & packed with stuff you can’t pronounce. We are obsessed with ingredients derived from nature. No premixes, concentrates & nasties here. ‘Cos you deserve nothing less.”
So now you know about the pitch of TeaFit beverages on Shark Tank, its founder, and what’s happening right now there. We wish them success in the future!
I am Ranish Chauhan a.k.a. Fulmino Fan, and I am also a fan of Shark Tank India.