- Founders: Nikki Kumar Jha & Rashmi Jha
- Business: Vegetables Storage
- Ask: ₹60 Lakhs for 2.5% Equity
- Valuation/ Networth: ₹24 Crores
- Funding: No Deal
- Sharks: No Deal
- Episode: Season 1 Episode 31
Sabjikothi Shark Tank India Pitch:
Sabjikothi is an Indian Startup which appeared on Shark Tank India Season 1 Episode 31. They basically provide storage solutions to Sabjiwala’s to store their vegetables and extend their shelf life. Their product can expand lifespan by 3-30 days. Notably, Their product uses no chemicals or refrigeration.
Sabjikothi’s solution does require around 1 0 watts of electricity to operate. The founders shared that it could operate at any temperature. In addition to that, it would also need 2 litres of water per week to keep vegetables fresh.
Sabjikothi’s founders sought an investment of ₹60 Lakhs in exchange for 2.5% of the company valuing the business at ₹24 Crores. All the vegetables in the Sabjikothi get electronically oxidized. They also created high humid zone inside to keep everything inside fresh.
Sabjikothi sells its product in 3 sizes, 250KG, 500KG and 1,000KG variants. The selling price for the product is ₹10,000 and it costs the company ₹5,000 to manufacture. The company’s go-to-market strategy is to go through micro-financing to mass market sabjiwalas.
Sabjikothi has already raised a pre-seed round at ₹5 Crore valuation when they were at the Idea stage. They raised a total of ₹15 Lakhs. The company have also won several grants and awards. They already have pre-orders for these products.
Sabjikothi Shark Tank India negotiations & Funding:
Anupam & Aman went out for to same reason. Vineeta went out due to high valuation. Namita went out due to the price being too high for retail.
Ashneer didn’t agree with the GTM strategy of the company so he told the founders that he was ready to invest but if they could make a mini version of this for crates. The founders added that they would have to do everything again and after hearing that respond, Ashneer went out as well.
Who are the founders of Sabjikothi?
Nikki Kumar Jha & Rashmi Jha founded Sabjikothi. They are siblings from Bihar, India. Nikki has done a PhD from IIT Kanpur in Design.
How is Sabjikothi doing after Shark Tank India?
Our research in the Sabjikothi revealed that while they did not get a deal on the Show, Their appearance had a positive impact on the business. The founder shared on MR DHEERAJ GONOR 👑 in fall 2023 that they are doing well so far and they have a runway for the next 6 months. The company also shared that they are funded now by their customers. The founders shared that they decided not to pivot and follow Ashneer’s suggestion therefore they have not connect with the Shark yet. They have a team of 27 people in 2023.
As of July 2024, The company is still in business and has 6 products in the market. you can check out their products on their website. you can also check other Shark Tank products by clicking the Amazon button below!
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Here are other companies from Season 1 Episode 31.