How is KRYZEN Doing After Shark Tank India?

Founder/Owner: Sudhir Devkar & Priya Devkar
Business: AgriTech
Ask: ₹75 Lakhs for 3% Equity
Valuation/ Networth: ₹25 Crores
Funding: ₹75 lakhs for 15% Equity & 2% royalty until ₹1.5 Crores are recouped
Sharks: Peyush Bansal
Episode: Season 3 Episode 30

KRYZEN Shark Tank India Pitch:

KRYZEN is an Indian startup which appeared on Shark Tank India Season 3 Episode 30. They are an agritech company that designs and sells ecosystems around vertical farming. The founders claimed that they could achieve a production capacity of an acre within 5000 square feet using vertical farming technology. The company has set up 40 farms across India so far, and the founders’ vision is to connect with all the farmers across the country. To fulfill this, they sought an investment of ₹75 Lakhs for 3% of their company, valuing the business at ₹25 Crores.

The company is revolutionizing agriculture in India by educating people in Hydroponics Farming technology. The founder shared that currently this is not popular in India because people do not know what to grow, how to grow, and where to sell their produce. KRYZEN Biotech Pvt Limited is an answer to all of this. KRYZEN has created 3 solutions, the first one being Price Watcher, which is a tool to track and analyze trends in various agricultural commodities. Secondly, hydroBUILD which is a remote farm automation system designed to manage Hydroponic systems and processes. Finally, Buyers Connect, which is a platform connecting growers and buyers across India.

KRYZEN offers consumers site inspection, project reports with recommendations to get the best ROI, hydroponic farm setup services, software and automation reports for farm management, and Agronomy support. They also connect them with buyers in multiple cities to whom consumers can sell their produce. The founders added that farmers get 7X more yield than traditional methods. However, the initial capEx starts at around ₹15 lakhs.

KRYZEN Revenue & Financials during Shark Tank India:

KRYZEN made revenue of ₹61,000 in FY20-21. This was followed by over 20X growth to ₹15 Lakhs in FY21-22. They closed last financial year FY22-23 with revenue of ₹1.25 Crores. Also, They are projecting to close this year FY23-24 at ₹5 Crores as they have already made ₹2.25 Crores by December 2023. Moreover, 5% of the revenue came from the course and the rest came from setting up the physical farms. Their projected profit for this year would be around 5%.

KRYZEN Shark Tank India Negotiations & Funding:

Namita goes out of KRYZEN’s negotiations due to lack of expertise in this area. Anupam goes out because he felt like there was no plan for scalability. He does, however, offer some land for experimentation and implementation of this technology. Aman goes out because of a lack of market size. Vineeta wasn’t sure if this company could successfully create this category, and she felt that the business was not investable at this stage.

Peyush liked the founders and the business as a whole and saw an opportunity to create a new category and sell services in this area. With this in mind, he offered ₹75 lakhs for 15% of the company, valuing the business at ₹5 Crores. In addition to that, he would take 2% royalty until he makes 2X of his initial capital back, which would come to ₹1.5 Crores. After some discussion among themselves, the founders accepted that offer.

Who are the founders of KRYZEN?

Sudhir Devkar & Priya Devkar founded KRYZEN. Sudhir has an engineering degree from RGIT in Bengaluru. Priya is an electronics and telecommunication engineer. They are married and met on Shaadi.com.