- Founder: Mahesh Varma, Venu Thotakura & Kamini Jha
- Business: Energy bar
- Ask: ₹60 lakhs for 2% equity
- Valuation: ₹30 Crore
- Result: No Deal
- Sharks: No Deal
- Episode: Not Aired
Happy Bars and Fitsport Shark Tank India pitch:
Happy Bars, a direct-to-consumer (D2C) startup in the Indian nutrition industry, made its mark on Shark Tank India with founders hailing from Hyderabad, Telangana. The company is dedicated to offering all-natural, high-protein, vegan, and diabetic-friendly energy bars, aiming to challenge the stereotype that healthy food cannot be delicious. Happy Bars showcased three products during their pitch: Happy Bars Natural, Happy Bars Coco, and a protein bar containing 12 grams of protein per serving. In addition, they launched a 20-gram protein bar. They started the brand in 2018, with operations expanding in 2019.
They are planning to launch 14 more variants in the next two quarters and are available in over 2,000 stores across India. Furthermore, they are also available in more than 600 premium coffee shops as a snack and have sold 25 lakhs worth of products in the last 2 years. They generated 3.1 crores in revenue in FY 20-21, and in the year prior, which was their first year, they made 29 lakhs. This year, their sales stand at 1.9 crores. They have raised 2.4 crores from friends and family at a valuation of 22.5 crores. While they are not yet a profitable company and incurred a loss of about 1 crore last year, they are projected to break even this year.
Sharks – Fitsport negotiations:
Ashneer was the first to exit the deal, citing that it’s an impulse purchase and this market is dominated by other companies. He added that it’s a foreign concept, and he doesn’t believe in this category. Peyush also opted out because he couldn’t see how they would defend their product and brand. Anupam followed suit, stating that they had too much segmentation, making it too confusing, and suggested that they should focus on only one segment. Namita also decided to pass on the opportunity because she agreed with all the sharks and didn’t see the growth potential. Aman, too, followed Namita’s lead and chose not to invest.
How are Happy Bars and Fitsport doing after Shark Tank India?
Our research into the company has revealed that they are still in business and have implemented the advice given to them by the Sharks in the Tank. They merged their bars into one brand, FitSport Nutrition, and now offer Energy bars and Protein Bars as their popular products. They remain active in the Hyderabad sporting scene and have collaborated with events such as the NMDC Hyderabad Marathon and Hyderabad Cycling Revolution in 2023. Unfortunately, their current financial information is not available at this moment, but we will update this article as soon as more information becomes public.
Image source: Fitsport Instagram
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