- Founder: Siddharth Mishra and Vinay Kumar
- Business: Energy Drink
- Ask: ₹50 Lakh for 2% equity
- Valuation: ₹25 Cr.
- Result: ₹20 Lakh for 15% equity and ₹30 Lakh Debt
- Sharks: Vineeta Singh
- Episode: Season 1 Episode 3
Shark Tank Pitch:
NOCD NO carbs drink is an energy drink with ZERO SUGAR and only 5 Calories. The drink founder has stated that they have made this drink for fitness and the drink is enriched with amino acids, folic acid, biotin, green coffee beans, and multivitamins. NOCD drinks are available for purchase on platforms like Amazon and Flipkart, as well as in 1,100 retail stores, including 300 in Mumbai and 800 in Bangalore.
For the fiscal year spanning from October 2019 to March 2020, NOCD reported revenues of INR 1.16 Crores. At the time of episode making, their sales reached INR 70.2 Lakhs in one month. Both founders have emphasized that their biggest challenge lies in marketing, as they currently lack a robust marketing strategy.
Shark Tank negotiations:
Veenta inquired about the manufacturing cost of producing a single drink, and Siddharth informed her that the energy drink’s manufacturing cost is approximately INR 20 per unit, while its Maximum Retail Price (MRP) is INR 110 per unit. Veenta was impressed by the substantial gross margin. However, Anupam became the first shark to opt-out, citing the need for a substantial marketing team and extensive distribution, making him unsuitable for investment. Namita stated that she is not a fan of energy or soda drinks and cannot relate to the product, so she chose to withdraw.
Ashneer expressed his dissatisfaction with the product’s name and lack of excitement about the product’s name, emphasizing a missed biggest marketing key point. Aman shared similar concerns and admitted to disliking the taste of the drink. He felt that it was too early to invest and that the product required significant refinement to succeed, leading him to opt out as well. The only shark to extend an offer was Veenta, proposing INR 20 lakh for a 20% equity stake and an additional INR 30 lakhs in debt. Siddharth countered with an offer of INR 20 lakh for a 10% equity stake and INR 30 lakh in debt. Veenta responded with a counteroffer of INR 20 lakh for a 15% equity stake, along with INR 30 lakh in debt, with the condition of rebranding and repackaging. Both owners accepted the deal.
How is NOCD doing After Shark Tank?
Our research in the company indicates that the deal with Vineeta Never closed. In addition to that drink name and packaging remain unchanged. Despite not closing their deal off air, NOCD is still in business and thriving. While there financials are not publically available, its fair to say that they are growing rapidly after Shark Tank as they boast an impressive following of 78.9k on Instagram as of October 2023.
We will update this article once more info comes through!
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Source:NOCD Instagram.
Here is what happened to other companies from Shark Tank India Season 1, Episode 3.
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