How is Niblerzz Doing After Shark Tank India?

Founder/Owner: Aashnee Gajaria & Sandhya Seshadri
Business: Candies
Ask: ₹50 lakhs for 3% Equity
Valuation/ Networth: ₹16.67 Crores
Funding: ₹10 Lakhs for 5% & ₹40 Lakhs debt at 10% interest for 2 years
Sharks: Aman Gupta
Episode: Season 3 Episode 34

Niblerzz Shark Tank India Pitch:

Niblerzz is an Indian startup which appeared on Shark Tank India Season 3 Episode 34. They manufacture candies with no artificial flavors or colors, no preservatives, and no sugar. Moreover, Their product range includes real fruit gummies, chocolate peanut butter cups, and lollipops. Further, Their products are available through their own website, marketplaces, and offline retailers. The founders sought an investment of ₹50 lakhs for 3% of the company valuing the business at ₹16.67 Crores.

Niblerzz is targeting an age group of 2-6-year-old kids. Also, Their best-selling product is their lollipops for which notably sharks did not like the taste. Lollipops were launched in August 2023 and they have sold around 5,000 pouches already. Their Lollipop costs ₹13 which is more expensive than the competitors which sell them for ₹5-₹8. Their products, in general, are 5-10X more expensive than regular products in the market.

Niblerzz Revenue & Financials during Shark Tank India:

Niblerzz was started in April 2022 and they made gross revenue of ₹16 Lakhs in FY22-23. Their net revenue was ₹13.5 Lakhs. Also, From May 2023 to October 2023, The company has made total revenue of ₹18.8 lakhs out of which ₹5.5 lakhs were made in October. Their monthly burn is about ₹2.5 lakhs. The company is completely bootstrapped at the time of their pitch. They have a negative EBITDA of -20%. They also added that for the last 3 months they are positive on CM1 and CM2.

The founders have raised an investment of ₹60 Lakhs from friends and family on a convertible note. They have also invested ₹40 Lakhs of their own money in this business.

Niblerzz Shark Tank India Negotiations & Funding:

Peyush was the first shark to go out of Niblerzz’s negotiations as he felt like the company was still trying to make their product market fit. Azher goes out citing it’s too early for an investment. Vineeta goes out citing the founders did not have the knowledge of their business. Anupam goes out citing the market for these expensive products is very small.

The founders claimed that they have interest from angel investors and with that Aman gives the conditional offer. Therefore, The condition was that those investors need to come onboard or he would back out of the deal as well. With that, He offered, ₹10 lakhs for 5% of the business and ₹40 lakhs debt at 10% interest for a 2-year term.Further, The founders countered that with ₹25 lakhs for 5% and the rest as debt which he refused. Finally, After some back and forth, They accepted Aman’s initial offer and they shook hands on ₹2 Crore valuation.

Who is the founder of Niblerzz?

Aashnee Gajaria & Sandhya Seshadri founded Niblerzz. They were both working in advertisement when they met each other.