Women-Led Startups That Made Waves on Shark Tank India
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Shark Tank India has evolved into a platform where entrepreneurs present their unique ideas to a panel of experienced investors in the hopes of securing funds to make their dreams come true. The number of female-led firms making headlines on the show has increased noticeably in the seasons.
Historically, entrepreneurship has been viewed and portrayed as a male-dominated arena. This is because men and women have traditionally been allocated distinct roles and obligations based on cultural and societal conventions. Women's lack of educational and vocational resources has further restricted their attempts to enter the entrepreneurial world.
In recent years, there has been a growing recognition of these problems, and attempts have been undertaken to promote inclusivity and diversity in business. Initiatives to promote women in business, shifts in cultural attitudes, and policy initiatives to address gender gaps are all gradually shifting the narrative. The way people view entrepreneurship is slowly changing as more women succeed in it and break down conventional boundaries.
Parul Gulati - Nish Hair
Simran Khara - Koparo Clean
Arpita Aditi - Dil Foods
Ananya Maloo and Anushree Maloo - Nuutjob
Yeshoda Karuturi and Rhea Karuturi - Hoovu Fresh
Aditi Gupta - Menstrupedia
Kanika Talwar - Cosiq Intelligent Cosmetics
Surabhi And Chetna Shah - Carragreen
Malvica Saxena - The Quirky Naari
Aditi Madan - Bluepine Foods
Vidushi Vijayvergiya - ISAK Fragrances
Rishika Nayak - The Sass Bar
Parul Gulati - Nish Hair
Nish Hair is a brand launched in 2017 by Parul Gulati, which was initially a home-based endeavor founded with the main motive of normalizing hair loss through affordable high-quality hair extensions. The brand specializes in 100 percent human hair extensions, toppers, and wigs, catering to various requirements that hair may call for, including experimenting with thinning hair to relive hair-styling fun.
Having started with a few challenges to overcome, Parul went door-to-door selling products and made ₹40,000 in the first year. The brand steadily rose with the help of social media, especially on Instagram, to ₹50 crores by 2023. This milestone was marked at Shark Tank India Season 2, where Parul secured ₹1 crore from Amit Jain for a 2% equity stake, while other sharks made counteroffers.
Nish Hair's sales skyrocketed threefold after Shark Tank and greatly contributed to brand visibility and confidence in the team. The company intends to expand prescription hair solutions for men and strengthen its global presence. Nish Hair was still focusing on organic growth, but now that they have visibility, they are channeling funds toward marketing to target a wider audience.
Simran Khara - Koparo Clean
Founded by Simran Khara in February 2021, Koparo Clean makes non-toxic plant-based products designed for consumers' lives, such as dishwashing liquids, floor cleaners, hand washes, and more, all without chemicals like ammonia and chlorine. It has become India's first coconut-based cleaning brand that uses surfactants derived from coconuts and sugar cane. Since the product formulation was initially difficult-from natural to effective- the first four products were released early in January 2021. The big part was when it featured on Shark Tank India Season 3, and Simran got ₹70 lakh for 1% equity from Vineeta Singh and Aman Gupta.
Koparo used to sell point products quietly till the time its visibility increased post-Shark Tank and reached a monthly revenue of about ₹3 crore and an expected annual revenue of ₹12 crore. Partnerships with Reliance Retail, Modern Bazaar, and countless other e-commerce platforms helped advance the brand and its market reach further. In FY23, revenue grew 7.3 times to ₹4.4 crore. However, increased costs raised losses, even though EBITDA margins and ROCE improved. Shark Tank played a key role in strengthening Koparo's position in the toxin-free home cleaning segment.
Arpita Aditi - Dil Foods
Dil Foods, founded by Arpita Aditi in April 2022, works as a virtual restaurant brand bringing the traditional flavors of India into the digital dining space. Handling eight virtual food brands, including Dil Punjabi, Bihari Bowl, and House of Andhra, the company partners with local restaurants, enhancing their asset utilization via its model of innovation.
The lyophilization process is applied by Dil Foods to retain powdered food, ensuring that consistency is being honored across its partner kitchens. In just 1.5 years, it has partnered with 65 plus restaurants and worked with 111 outlets resulting in ₹6 crore of revenue. Arpita's major achievement includes the Shark Tank India show, where she raised ₹2 crore for 2.67% equity from multiple investors valuing the company at ₹75 crore.
Post-Shark Tank, Dil Foods became more visible, drawing other restaurant partners and customers. In October 2023, total sales made ₹13.2 crore with a net profit of ₹87 lakh, giving an EBITDA margin of 5%. Increased brand awareness continued the growth, assisting restaurants in boosting profits and efficiencies through training and cost management.
Ananya Maloo and Anushree Maloo - Nuutjob
Nuutjob is an Ahmedabad-based brand founded by the sisters Ananya and Anushree Maloo in 2020. Their company specializes in men's intimate hygiene products. Observing the demand for the natural and chemical-free grooming products for male hygiene aspects, the two women decided to launch the much-required products.
Starting with a proof of concept in 2020 and with full-fledged sales commencing in 2021, during the very first year, Nuutjob had sales of around 500 units and ₹5 lakh revenue. Shark Tank India Season 2 in January 2022 came as a landmark moment for the company. Here, they could not secure a deal, but the publicity gave a major fillip to their brand name and market."
After Shark Tank, Nuutjob expanded its product portfolio and distribution, while educating the consumers about male intimate hygiene. The recent run rate for the monthly revenue in FY 2023-24 has been between ₹5 lakh and ₹10 lakh, giving an annual turnover of ₹60 lakh to ₹1.2 crore. Due to increasing customer engagement and good traction in the market, it plans to double its revenue by 2024-25, thus becoming a prominent player in the men's hygiene domain.
Preeti Karna
Yeshoda Karuturi and Rhea Karuturi - Hoovu Fresh
Founded by sisters Yeshoda and Rhea Karuturi, Hoovu Fresh sells fresh puja flowers and other allied products. Using the family's experience in floriculture, Hoovu Fresh developed packaging that enhances the shelf life of flowers, from 2 to 5 times longer, therefore enhancing the flower trade in India which is very fragmented.
By partnering with farms, they have reduced the timely cycle from harvest to delivery so that consumers can enjoy flowers with enduring freshness. Their ₹1 crore investment for a 12.5% equity stake from Peyush Bansal and Aman Gupta in Shark Tank India Season 2 was a catalyst for the brand name gaining recognition, thus giving Hoovu Fresh an edge over other competitors in the market. Today, with an annual turnover of ₹8 crore, Hoovu Fresh is the biggest puja flower brand in India.
After appearing on Shark Tank, the company has paralleled growth in the business by also partnering with the likes of Big Basket, Zepto, Swiggy, and Instamart, through which their products were made available in most major Indian cities. They have also diversified into more sustainable products, for example, incense sticks which they make from floral waste. The recognition for innovation and impact at the Karnataka Women Achievers Awards helps strengthen its reputation in the industry.
Nitin Konde
Aditi Gupta - Menstrupedia
Aditi Gupta is a National Institute of Design, Ahmedabad alumna who has worked as a menstruation educator for the past eight years. Aditi is the founder and CEO of Menstrupedia, the world's most revolutionary menstrual education firm. She has influenced the lives of 13 million girls globally, trained 10,000 educators, and taught more than 50,000 girls about their periods.
In recognition of her efforts to eliminate the stigma associated with menstruation, Aditi was named one of Forbes India's 30 under 30 in 2014. She is a TED speaker, a UN Goalkeeper, and one of the BBC's top 100 women. Aditi wishes to build a future where menstruation is not embarrassing but a welcoming change.
Her comic blends storytelling and sequential art to teach young girls about menstruation in an instructive and entertaining way. These comic novels are part of the curriculum in over 25,500 Indian schools. Menstrupedia Comic is available in 20 languages and used in 23 countries worldwide. Her teaching methods are also culturally sensitive, making them well-embraced by over 1.5 lakh Indian parents. Founders Aditi Gupta and Tuhin Paul were offered 10% equity for ₹50 lakhs after being featured in Shark Tank India Season 1 Episode 6 by Namita Thapar.
Kanika Talwar - Cosiq Intelligent Cosmetics
Kanika Talwar has extensive experience in management, operations, and information technology and a track record for achieving results and meeting deadlines. She has worked in multiple fields and has a vast knowledge of team management. Kanika's expertise includes launching new businesses and overseeing operations with cross-functional teams around the globe.
Kanika Talwar co-founded CosIQ, a molecular skincare brand that provides scientifically proven, effective, affordable skincare products, delivering intelligent skincare. The brand launched India's first Sunscreen Serum and first-only 2-ingredient Vit-C Serum. CosIQ received INR 50 lakh in funding for a 25% stake from Shark Tank India judges Vineeta Singh and Anupam Mittal. Being only a four-month-old startup at that point, the funding motivated Kanika and Angad Talwar to build up their brand to be revolutionary.
Surabhi And Chetna Shah - Carragreen
Surabhi comes from a business family making paper packaging products for the food sector for 35 years. This honed her talents at the company, and she managed the setting up of an in-house printing unit, simultaneously paving the way for Carragreen to take shape as her baby. Surabhi Shah is a professional engineer who is also a passionate ecopreneur. She is in charge of product manufacturing, marketing, and financing.
Chetna Shah, her partner and co-founder of Carrageen, is a valuable source of inspiration and expertise. She is a skilled artisan and art collector, possessing a wealth of baking knowledge. She handles customer research and product development.
After reading about sustainable living, they came up with the business idea to replace plastic in the packaging industry. Giving consumers access to eco-friendly substitutes for everyday items became their primary objective. Their company offers pencils made from newspapers, recycled paper, and biodegradable spoons that replace disposable plastic and wooden spoons at affordable prices. Carragreen introduced reusable and biodegradable "carraspoons" and "carraboxes." The items quickly became their best-selling items due to their unique and innovative designs. Anupam Mittal and Peyush Bansal invested INR 50 lakhs in their creative proposal for 20% equity.
Damini Bhandary
Malvica Saxena - The Quirky Naari
Malvica Saxena is the mind behind The Quirky Naari, a fashion and lifestyle company that uses digital platforms and developing technology to promote quirky fashion among millennials and Generation Z.
The Quirky Naari originates in Mathura, where Malvica lived and experienced personal struggles before realizing the healing potential of art. Her love of hand-drawing patterns on shoes inspired her to create a fashion company that encourages people to embrace their uniqueness and take risks with their lives.
Her study revealed that firms creating handpainted footwear did not focus on customization, which could potentially be her area of expertise. The Quirky Naari sells a variety of customized things, including bridal sneakers, handpainted sneakers, and handpainted jackets.
Malvica made an appearance on Shark Tank India Season 1 Episode 20, during which she captivated the judges with an exhibit of her unique creations and secured INR 35 lakhs from Vinita Singh and Anupam Mittal in exchange for a 24% stake in his business.
Quirky Naari padhi sabpe Bhaari | Shark Tank India | The Quirky Naari | Full Pitch
Aditi Madan - Bluepine Foods
Chef Aditi Madan is a role model for small-town women who want to stand out because of their talents. With her leadership abilities, a regular lady became a successful businesswoman, company representative, and food brand owner. Aditi had an excellent opportunity to display her culinary skills on Amul India MasterChef Season 3 when Chef Vikas Khanna gave her the title "Momo Mami." From the start, her idea was transparent. As quick meals became more and more necessary, she started looking into and trying six-month-shelf-life frozen momos that were free of preservatives.
Bluepine Foods is a young, convenient, innovative, and environmentally conscious food startup. Bluepine Food's Momo Mami has established itself as a category leader in a new market of preservative-free, frozen momos made from various fresh ingredients. These momos and dumplings aim to bring back the feelings of a traditional home-cooked meal.
Aditi Madan approached Shark Tank with a pitch aimed at getting INR 50 lakhs; however, after numerous rounds of discussion, the deal was agreed upon at INR 75 lakhs for 18% equity by Ashneer Grover, Vineeta Singh, and Aman Gupta.
Vidushi Vijayvergiya - ISAK Fragrances
Vidushi Vijayvergiya, the Founder and CEO of ISAK Fragrances, began her journey as a perfume and serial entrepreneur to understand the new world, as well as her deep passion and research in aroma customization in Switzerland, France, and India. It let her see the true potential that perfumery manufactured in India has globally.
With over 150 years of family experience, ISAK is a fragrance house committed to crafting unmatched, handmade Indian scents with uncommon notes and combinations. The initiative aims to promote Indian perfumery and its craftsmanship on a global scale. Vidushi stands out for its ambition to bring back the allure of Ittars, concentrated perfumes created with essential oils historically associated with the royal family and luxury.
The opportunity for customers to design their perfumes with a 100% handmade and organic composition, as well as the potential for expansion, is what facilitated this fragrance brand to acquire INR 50 Lakh for 50% equity from renowned entrepreneur Peyush Bansal.
Rishika Nayak - The Sass Bar
Rishika began her work at the age of 19 intending to fulfil the American Dream. She has worked as a stylist for a production house, a strategy executive for an events and intellectual property company, an account executive for a retail design firm, and a fashion buyer and communications manager for a startup. This was before she co-founded the Urbane womenswear brand.
The Sass Bar is Rishika's second business venture. The company specializes in handcrafted soaps that resemble and smell like mouthwatering desserts. They come in various fragrances and are rich in cocoa and shea butter, devoid of SLS and parabens, using skin-safe colorants and biodegradable glitter. She even collaborated with other artists to develop specialized gift gifts based on various subjects such as travel, food, and music.
This brand impressed the judges with its appearance, who mistook it for eatables. Due to its USP, the brand was able to secure a deal with Anupam Mittal and Ghazal Alagh for INR 50 lakhs for a stake of 35% equity.
Jeenal Jain
Conclusion
In conclusion, the journey of these top women-led firms that obtained funding from Shark Tank India demonstrates women's perseverance, inventiveness, and entrepreneurial spirit in business. As these entrepreneurs expand and make their impact in their chosen fields, they pave the way for other women to follow in their footsteps. The stories of these great entrepreneurs not only inspire today's generation but pave the path for a more inclusive and diverse future.
FAQs
What is Menstrupedia?
The Menstrupedia comic serves as a global educational guide, with a specific focus on India, aiming to inform people about menstruation.
What was the deal made by Aditi Madan (Momo Mami) in Shark Tank?
Aditi Madan secured a deal of INR 75 lakhs for 18% equity by Ashneer Grover, Vineeta Singh, and Aman Gupta.
What is Shark Tank about?
Shark Tank India has transformed into a stage where innovators showcase their distinctive concepts to a panel of seasoned investors, aspiring to secure funding to turn their aspirations into reality.
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