- Founders: Vikram Mittal & Meenakshi Bhanj Deo
- Business: Beverage Brand
- Ask: ₹40 Lakhs for 5% Equity
- Valuation/ Networth: ₹8Crores
- Funding: No Deal
- Sharks: No Deal
- Episode: Season 1 Episode 33
Mavi’s Shark Tank India Pitch:
Mavi’s is an Indian startup which appeared on Shark Tank India Season 1 Episode 33. They are a fermented food and beverage company which manufactures and sells kombucha, kvass, tepache & kefir. All their products are made from organic seasonal local ingredients. The founder shared that their products are not just tasty but also help with digestion. They sought an investment of ₹40 Lakhs in exchange of 5% equity in their company valuing the business at ₹8 Crores.
Sharks had mixed reactions to Mavi’s products. Some sharks loved the drinks and others did not and sought the taste was just too strong. Their products have a shelf life of around 2 months but some of them require refrigeration. The company was started in 2018.
Mavi’s made a revenue of ₹24.5 Lakhs in FY20-21 and ₹12 lakhs a year prior. By the time of their pitch, The company made revenue of ₹21.5 Lakhs and is projecting to close the year at ₹35 Lakhs.
Mavi’s Shark Tank India Negotiations & Funding:
Ashneer wasn’t convinced that this product would succeed in the Indian market therefore he went out. Namita went out citing the business will face challenges due to the products’ small shelf life. Aman went out citing that the company doesn’t have a focused product. Peyush went out citing that its too expansive even for upper-middle-class consumers. Anupam goes out due to same reason. Mavi’s went out of the tank without a deal.
Who are the founders of Mavi’s?
Vikram Mittal & Meenakshi Bhanj Deo founded Mavi’s. They are both bought up in Jaipur, Rajasthan and got married in 2015.
How is Mavi’s doing after Shark Tank India?
Our research in the Mavi’s revealed that despite not getting a deal on Shark Tank India, The company is still in business as of July 2024. The founders did an interview with Centre for Entrepreneurship where they shared that Shark Tank is a great platform for any entrepreneur. They also shared that Peyush did not order from them even though he asked them to ship their product to home.
You can check out their products through amazon by clicking the Amazon button below!
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Here are other companies from Season 1 Episode 33.