- Founder/Owner: Akash Sotta and Jay Sotta
- Business: Green Tea
- Ask: ₹50 lakhs for 5% Equity
- Valuation/ Networth: ₹10 Crores
- Funding: No Deal
- Sharks: No Deal
- Episode: Season 3 Episode 38
Cup-Ji Shark Tank India Pitch:
Cup-Ji manufactures and sells paper cups with green tea at the bottom. All the consumer needs to do is pour boiling water into the cup, swirl the cup and then add more boiling water and the tea is ready to drink. They have 8 flavours in India and over 23 flavours for international markets. Their tea is made from 100% natural materials and is sugar free as well. The founders sought an investment of ₹50 lakhs for 5% of the company valuing the business at ₹10 Crores.
Cup-Ji has priced their products around ₹22 per cup which is over 3X the price of competitors. The founders however added that their products contain premium natural ingredients which is not the same in other competitors’ products.
Cup-Ji has 5 distinctive Moats, which gives them a competitive advantage first is obviously from a family with 5 generations of knowledge about the business. Secondly, They have in house-manufacturing. Also, They have a very good understanding of the export market as well. Finally, Their flavours, Blends and Positioning also gives them a unique advantage in the industry.
Cup-Ji already exports its products to Saudi Arabia, Australia and Dubai. The company’s go-to-market strategy is to focus on exports. Along with that, they are also focusing on corporate gifting as well. They currently have 3 categories Black Tea, Green Tea & Herbal Tea.
Cup-Ji’s Revenue & Financials during Shark Tank India:
The brand was started in just 2023 and has already made ₹62 lakhs in revenue in the first 6 months. 43% of their sales come from exports. They made revenue of ₹3.5 Lakhs in September 2023. The company started selling online in June 2023 and made ₹2.6 Lakhs in revenue by the time of their pitch. They have a lifetime burn of around ₹7 Lakhs.
Cup-Ji is projecting to do a business of ₹50 Crores in the next 3 years. For these, They would make ₹10 Crores in revenue from exports, ₹10 Crores from corporate gifting, ₹10 Crore from Online sales and ₹20 Crores from B2B sales.
Cup-Ji Shark Tank India Negotiations & Funding:
Amit was the first shark to go out citing the pricing of products is too high and there isn’t a mass consumer demand for these products. Vineeta goes out because even though she thought that the founders would make a business in tea industry, their current cup model would not succeed.
Aman goes out citing that the founders have small aspirations. Namita goes out due to a lack of defensibility and low barrier to entry for this product. Anupam goes out because he felt like the product is not market fit yet. Cup-Ji leaves the tank without a deal.
Who are the founders of Cup-Ji?
Akash Sotta and Jay Sotta founded Cup-Ji. They are from Mumbai and their family has been in the tea business for 5 generations.
How is Cup-Ji doing after Shark Tank India?
Our research in the Cup-Ji revealed that while the company did not get a deal. Their appearance on the show had a positive impact on the business and gave them nationwide exposure. As of May 2024, The company is still in business and thriving. They have also launched merch along with their tea products which you can check out through their website. You can also shop their products through Amazon by clicking the button below!
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Here are other companies from Season 3 Episode 38: