Shark Tank India S02E01: Hoovu, Dorje Teas, Recode Studios
Most startup enthusiasts were waiting for Shark Tank India’s season 2 and the show didn’t disappoint in the first episode. Though many on social media missed Ashneer’s straightforwardness, the pitches made the show exciting.
On the inaugural episode of Shark Tank India, there were three interesting brands on Shark Tank — Hoovu, Dorje Teas, and Recode Studios. Let’s see what they came for and if they got what they deserved (and expected)
Brands on Shark Tank India S02E01
Hoovu Fresh
Hoovu Fresh is a fresh flower delivery brand that delivers fresh flowers for morning prayer, home decor, etc. every day. The USP of the brand is that it’s flowers can stay fresh for 15 days without any special treatment. The founders, Yeshoda Karuturi & Rhea Karuturi explained that they have a special process that prolongs the shelf life of fresh flowers.
Read More: Everything You Want to Know about Hoovu Fresh
Hoovu Ask from the Sharks in Shark Tank India
₹80 Lakhs for 1% Equity, Valuation — ₹80 Crores
Offers for Hoovu at Shark Tank India
Hoovu received 3 offers on Shark Tank India, as follows:
- Offer 1: Namita and Vineeta: ₹40 Lakhs at 4% equity & ₹40 Lakhs debt at 12% interest, Valuation - ₹10 Crores
- Offer 2: Peyush and Aman: ₹1 Crore for 2% equity, Valuation - ₹50 Crores
- Offer 3: Revised Offer by Namita and Vineeta: ₹50 Lakhs for 1% equity & ₹30 Lakhs debt @ 12% interest, Valuation - ₹50 Crores
Want to read everything that happened during Hoovu’s pitch on Shark Tank India?
Check out our blog on Hoovu’s Shark Tank India Pitch
Did Hoovu Fresh Raise Funds on Shark Tank India?
Yes, Hoovu Fresh accepted Aman Gupta’s & Peyush Bansal’s joint offer of ₹1 Crore for 2% equity at a valuation of ₹50 Crores.
Dorje Teas
Dorje Teas comes from a general tea business house that owns the famous Selim Hill Tea Garden in Darjeeling. Their founders, Ishaan Kanoria and Sparsh Agarwal presented a beautiful tale of Darjeeling's special blends and aim to make Dorje a speciality tea brand known to everyone.
Read More: Everything You Want to Know about Dorje Teas
Dorje Teas Ask from the Sharks in Shark Tank India
₹30 Lakhs for 5% Equity at a valuation of ₹6 Crores
Offers for Dorje Teas at Shark Tank India
- Offer 1: Vineeta’s offer: ₹30 Lakhs for 10% equity, Valuation - ₹3 Crores
- Offer 2: Anupam, Peyush and Vineeta: ₹30 Lakhs for 15% equity, Valuation - ₹2 Crores
Want to read everything that happened during Dorje’s pitch on Shark Tank India?
Check out our blog on Dorje’s Shark Tank India Pitch
Did Dorje Teas Raise Funds on Shark Tank India?
Yes. Dorje Teas raised INR 30 Lakh for 15% equity at a valuation of 2 crores on Shark Tank India. They accepted the offer floated by Vineeta, Anupam, and Peyush jointly.
Recode Studios
A beauty and cosmetics brand, Recode Studios brings affordable makeup for people but of international quality. The main USP of Recode is its interesting customer acquisition strategy, that’s a mix of awareness, learning, and referral marketing. Currently, the brand’s products are available across 250 stores across India. They also run an online marketplace.
Read More: Everything You Want to Know about Recode Studios
Recode Studios Ask from the Sharks in Shark Tank India
₹1 Crore for 1% Equity at a valuation of ₹100 Crores
Offers for Recode Studios at Shark Tank India
The brand failed to receive any offers from the Sharks. The general perception about the brand was that it was too early to raise an investment from an external investor.
Want to read everything that happened during Recode’s pitch on Shark Tank India?
Check out our blog on Recode’s Shark Tank India Pitch
Did Recode Studios Raise Funds on Shark Tank India?
No. Recode Studios failed to raise any money on Shark Tank India.
Which Brand Did You Like the Most on Episode 1 of Shark Tank India Season 2?
The episode started this season with a bang. While Hoovu had an innovation, Dorje had a nice story. And Recode was a classic example of how entrepreneurship is not the slave of an elitist society alone — anyone can start a business and succeed at it, even from small towns in India.
Which pitch did you like the most at Shark Tank India season 2?
- What Happened with Hoovu Fresh on Shark Tank India?
- What Happened with Dorje Teas on Shark Tank India?
- What Happened with Recode Studios on Shark Tank India?
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