Shark Tank Spice Story

In this episode of Shark Tank India Spice Story, a brand that brings you the flavors of streets in a modern sauce form presents the pitch. Will the founder get a deal from the sharks? To know about the deal read till end.

Spice Story Founders

Soumyadeep Mukherjee is 44 years old and is from Mumbai. Vibhor Rastogi is 40. Gayatre Gogate is also from Mumbai.

Soumyadeep has experience in distribution channels of FMCG and financial sectors. He has worked in five different countries and 19 different regions in India.

About the company Spice Story

Imagine Sholay without Basanti, imagine idlis without coconut chutney. Are you feeling alright? Not at all; right? So Spicy Story is such a brand which brings you the flavors of streets in a modern sauce form. They have started the company in the year of 2019. They are available on their own website and marketplaces like SwiggyInstamart, Zomato, Big basket, Flipkart, Amazon etc. They are also available in 1700 stores across 5 cities. The vision is to spread the flavors of the streets to each and every corner of the country.

Talking about the equity distribution, Soumyadeep has 38% of the equity, Gayatri has 12% of the equity and Vibhor has 4% equity in the company. 21% of the equity is with the other two founding members. 25% is with the investors.

The unit price is around 150 rupees.

Ask by the Owners Spice Story

Pitchers asked for 70 lakh rupees in exchange of 2% equity.

Spice Story Sales And Revenue

In the financial year of 19-20 the sales was 1.5 crore rupees. In the financial year 20-21 the sales were 2.5 crore rupees. In FY 21-22 the sales was 4.1 cr. rupees. Last month’s sales were 57 lakhs rupees and their projected sales is Rs. 9 cr. They have invested 65 lakhs of their own in the business. They have raised two rounds of investment. In the year 2021 they have raised 1.7 crore rupees at a pre-money valuation of 10.6 cr. rupees. In the year 2022, they have raised 3 crore rupees at a pre-money valuation of 23 cr. rupees. The gross merchandise value is 57 lakhs and net revenue is 32 lakhs rupees. Revenue will be around 60 crores in the upcoming next two years.

Offers and counter offers

Namita offers 70 lakhs for 5% equity in the company.

Remaining all sharks stepped out of the deal.

Spice Story Final deal

The deal was finalized with Namita for 70 lakhs rupees in exchange of 5% equity in the company.