- Entrepreneurs: Jatan Bawa & Tushar Khurana
- Business: Oral care products
- Ask: ₹80 Lakhs for 1% Equity
- Valuation: ₹80 Crore
- Result: ₹ 80 Lakhs for 2.5% Equity
- Sharks: Namita Thapar, Vineeta Singh and Peyush Bansal
- Episode: Season 2 Episode 34
Shark Tank Pitch:
Perfora, an oral care start-up, aims to revolutionize the industry with a safer and more effective alternative to traditional toothpaste. During their pitch, they highlighted the harmful chemicals found in typical toothpaste and introduced India’s First Made Safe Certified Toothpaste. Additionally, they offer Smart Electric Toothbrushes, Alcohol-Free Mouthwash, Smart Water Flossers, Teeth Whitening products, along with their Toothpaste. The company’s vision is to revolutionize the oral care industry and reach one crore washrooms with Perfora products in five years.
They commenced their journey in August 2021 and have already served over 40,000 customers. In April 2021, they secured funding from Sameer (Aman Gupta’s Co-founder of Boat), raising 2 Crores at a post-money valuation of 13 Crores. In February 2022, they conducted another funding round, raising 7 Crores at a 39 Crore valuation. With a gross margin of 57%, marketing expenses accounting for 45% of revenue, and 10.2k followers at the time of the pitch, they revealed plans for a new, price-competitive product line.
Shark Tank Negotiations:
After presenting their products, the entrepreneurs received compliments from Anupam and Aman regarding their product quality and freshness. When questioned about SLS content compared to the No 1 brand, Jatin responded affirmatively. There was mention of competing products in the market, but the entrepreneurs stressed that they were pioneers in the space. Namita inquired about price comparisons, revealing that Perfora was 2.5X more expensive than competitors. The entrepreneurs noted that they required more data to make claims about their products.
When asked about potential acquisitions by larger companies, the entrepreneurs expressed their desire to establish a legacy brand, envisioning it as “Colgate 2.0” but made in India. The significant increase in valuation since the last round was attributed to a 2.5X sales increase during the same period.
Anupam inquired why they hadn’t used fear as a marketing tool. Jatin explained their strategy of presenting a different perspective to consumers. The entrepreneurs acknowledged that they planned to grow profitably in the future. The next milestone was set at 2 Crore MRR, with hopes to achieve it in 9 months with -15% EBITA. They anticipated breaking even at 3 Crore monthly.
Vineeta made an offer based on revenue, proposing 80 Lakhs for a 4% stake with Namita joining. The company declined the offer, stating it wasn’t beneficial for current investors. When asked about the best value for a deal involving all five sharks, the entrepreneurs indicated they would close at the same valuation as their previous round. Anupam exited, citing the absence of disruptive actions. Aman followed suit, citing a high valuation. However, the rest of the sharks closed the deal at 80 Lakhs for 2.5%.
What Happened to Perfora After Shark Tank?
Our research found that Deal with Sharks Closed andPerfora continued to thrive. Shark Tank’s official channel featured a video on their Instagram, where the entrepreneurs shared their experience on the show and how it propelled the brand forward.
Namita Shared on Socials that ” their sales has increased from 70 lakhs per month to 3.5 cr per month (5X) in 9 months since I heard them pitch at the tank. They also completed a fundraise 3 m back at double the shark tank valuation, need I say more !!Both are under 30, consumer backgrounds, met at Jagriti Yatra & the rest is history.”
As of October 2023, the brand remains strong, boasting over 80,000 Instagram followers and engaging in regular collaborations with influencers and other brands to generate excitement. Additionally, they expanded their product lineup to include tongue cleaners and gum care products.
Image sources: Perfora Instagram
So what do you think future of the company looks like? Comment your Thoughts Below!
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