- Founder/Owner: Nandini Srivastava and Rishabh Nigam
- Business: Coffee
- Ask: ₹60 Lakhs for 2% Equity
- Valuation/ Networth: ₹33.33 Crores
- Funding: ₹35 lakhs for 2.33% equity plus ₹25 lakhs debt at 10% interest for 3 Years
- Sharks: Ritesh Agarwal
- Episode: Season 3 Episode 19
Toffee Coffee Roasters Shark Tank India Pitch:
Toffee Coffee Roasters is an Indian startup that appeared on Shark Tank India Season 3 Episode 19. They are specialty instant coffee brand offering a variety of options including filter, ground, hot brew, and cold brew coffee. They source coffee beans from various regions around the world and roast them in-house. The coffee market size in India is estimated to be around ₹14,000-₹15,000 Crores, divided into two categories: out-of-home and at-home, with each accounting for 50% of the market. Traditional brands like Nescafe and Brew capture 70% of the at-home coffee market. Toffee Coffee sells its products through its own website and various marketplaces.
Toffee Coffee Roasters Revenue & Financials during Shark Tank India:
In 2019, they ventured into the café business and achieved sales of ₹25 lakhs. The following financial year, after launching direct-to-consumer (D2C) coffee, they surpassed ₹40 lakhs in sales. The subsequent year saw a tripling of sales, reaching 1.3 crores. By FY22-23, they reached ₹2.3 crores in sales but incurred a loss of ₹20 lakhs. As of FY23-24 (till September), they have already exceeded ₹2.1 crores in sales and are projecting to close the year at 6 crores with a profit of ₹60 lakhs.
In 2022, they conducted their first fundraising round, raising ₹1 crore at a post-money valuation of ₹10 crores. Regarding sales split, 60% comes from their own website and 40% from marketplaces. They currently have ₹2-₹3 lakhs in the bank.
Who are founders of Toffee Coffee Roasters?
Toffee Coffee Roasters is founded in 2019 by Nandini Srivastava and Rishabh Nigam.
Toffee Coffee Roasters Shark Tank India Negotiations & Funding:
Vineeta was the first shark to opt out of negotiations, citing concerns about the product prices being 1.5x to 2x higher compared to competitors. Consequently, she believed this might limit the market size. Similarly, but expressed interest in becoming a consumer of Toffee Coffee Roaster. Aman, on the other hand, advised the founders to focus on special flavors like Whiskey Barrel Aged Coffee to capture the market before exiting negotiations.
Ritesh made an offer of ₹30 lakhs for 2% equity along with ₹30 lakhs in debt at 10% interest for 3 years. Peyush stepped aside from negotiations, considering Ritesh’s offer to be very competitive. The founders requested Ritesh to remove the debt portion and invest more in equity. Ritesh revised the offer to ₹35 lakhs for 2.33% equity along with ₹25 lakhs in debt at 10% interest for 3 years. Deal Finalized.
How is Toffee Coffee Roasters doing after Shark Tank India?
Our research on Toffee Coffee Roasters revealed that although they secured a deal on Shark Tank India with Ritesh Agarwal, it remains uncertain whether their deal with the Shark concluded after the show. Early Signs, however, suggest that there is a strong possibility they may have secured the funding.
While their financial figures are not yet public, we will update this article with more information as soon as it becomes available. In the meantime, you can explore their products by clicking the Amazon button below!
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Source: Instagram @ToffeeCoffeeRoasters
Here are other companies from Season 3 Episode 19.