- Founders/Owners: Soorya Jagadish and Vibha Harish
- Business: Cosmix
- Ask: ₹1 Crores for 1% Equity
- Valuation/ Networth: ₹100 Crores
- Funding: ₹1 Crores for 1% Equity plus 1% Royalty until ₹1 Crore is Recouped
- Sharks: Namita Thapar
- Episode: Season 3 Episode 26
Cosmix Shark Tank India Pitch:
Cosmix is an Indian startup featured on Shark Tank India Season 3 Episode 26. They specialize in crafting superfood supplements inspired by Herbalism. Their product line comprises two categories: superfoods and protein, encompassing a total of 25 different products. Notably, the Mahabaleshwar strawberry protein, their latest addition to the lineup, accounts for 50% of their sales.
Cosmix Revenue & Financials during Shark Tank India:
In FY20-21, Cosmix achieved sales of ₹98 lakhs, which surged to ₹2.5 crores the following year. The subsequent year saw a significant increase, reaching ₹7.5 crores in sales. As of FY23-24 (till September), they have already surpassed ₹10 crores in sales, boasting an 11% EBITDA, and they project to close the year with sales totaling ₹27.5 crores. With a robust 70% gross margin, Cosmix allocates 25% of its net revenue towards marketing efforts.
Their sales distribution indicates that 50% of sales come from protein supplements, and 15% attributed to My Happy Gut, 10% to Healthy Hair, 10% to What Women Want, and the remaining 15% from other products. Moreover, 70% of their sales originate from their own website, with the remaining 30% coming from marketplaces. It’s noteworthy that they maintain a 4-star rating across these platforms.
Who are founder of Cosmix?
Soorya Jagadish and Vibha Harish co-founded Cosmix. Vibha, a herbalist, initiated the Cosmix journey in December ’19, and Soorya, a supply chain engineer, joined her in 2021. It’s noteworthy that they have bootstrapped the company.
Cosmix Shark Tank India Negotiations & Funding:
Namita was the first shark to make an offer of ₹1 crore for 2% Equity. Azhar chose to sideline from negotiations, believing that Namita’s offer was favorable and that he couldn’t add value to the business. Similarly, Amit also opted out due to concerns about the competitive market pricing of the product.
Anupam and Namita then proposed a combined offer of ₹1 crore for 2% Equity plus 1% royalty until ₹2 crores is recouped. In contrast, Peyush offered ₹1 crore for 1% Equity plus 1% royalty until ₹2 crores is recouped. The founders responded with a counteroffer of ₹1 crore for 1% Equity without royalty, prompting Anupam to exit negotiations due to perceived high valuation.
Following this, Namita revised her offer to ₹1 crore for 1.5% Equity plus 1% royalty until ₹1 crore is recouped, while Peyush also revised his offer to ₹1 crore for 1% Equity plus 1% royalty until ₹1 crore is recouped. Once again, the founders countered with ₹1 crore for 1.5% Equity without royalty.
Peyush expressed willingness to accept the terms, provided the founders agreed. However, the founders opted to accept Namita’s offer of ₹1 crore for 1% Equity plus 1% royalty until ₹1 crore is recouped, and the deal was finalized.
How is Cosmix doing After Shark Tank India?
Our research on Cosmix revealed that although they secured a deal on Shark Tank India with Namita Thapar. It remains uncertain whether their deal with the Shark concluded after the show.
While their financial figures are not yet public, we will update this article with more information as soon as it becomes available. In the meantime, you can explore their products by clicking the Amazon button below!
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Source: Instagram @cosmixwellness
Here are other companies from Season 3 Episode 26.