In this episode of Shark Tank India Lil Goodness, unique haldi chocolates present the pitch. Will the founder get a deal from the sharks? To know about the deal read till end.
| Company name | Lil Goodness |
| Founders | Damanbir Singh and Harshvardhan |
| Ask | ₹1 crore for 1% equity |
Lil Goodness Founder
Damanbir Singh and Harshvardhan are the founders of the company. Damanbir is from Chandigarh and Harshvardhan is from Kerala. Harshvardhan and Peyush were classmates during school. Damanbir holds 8% equity and Harshvardhan holds 24% equity of the company.
About the Company Lil Goodness
Lil Goodness products are made from ethnic traditional ingredients such as teff from Africa, turmeric from India and special plant fiber of chicory roots. These products are blended with everybody’s favorite chocolate. Lil goodness is made from the fusion of traditional and modern components. The goodness of their different products are,
- Prebiotic milk chocolate has turmeric and 35% less sugar. The cumin part of turmeric is extracted and masked under the chocolate.
- They use 100% cocoa butter in their products.
- Teff puff contains 23% teff, 23% quinoa and 45% supergrains.
- Oats milkshakes contain 50% less sugar.
The company was launched in March 2020.
Ask by the Owner Lil Goodness
The owners ask for 1 crore for 1% equity of the company at the valuation of 100 crores.
Lil Goodness Sales And Revenue
The price point of chocolates is ₹20.
- Monthly sales is 1.45 crores. Out of total sales 60% comes from chocolates, 20% comes from milkshakes 15% comes from tuffs and 5% comes from milk mixes.
- Gross margin in chocolates is 69%, in milkshakes it is 64%, in puffs it is 70%, in milk mixes it is 59%. Blended gross margin is 66%. Monthly burn is 30 lakhs.
- Out of total monthly expenses of 1.56 crores, 47 lakhs is COGS, logistics cost 23 lakhs, marketing cost is 19 lakhs, salaries is 27 lakhs, distribution cost is 12 lakhs, one-off expenses is 25 lakhs.
They have raised 11.5 crores fund till now and 48% equity is diluted.
Offers and Counter Offers
Peyush gave an offer of 50 lakhs for 1% equity and 50 lakhs debt at 12% interest rate.
Owners gave a counter offer of 50 lakhs for 1% equity and 50 lakhs debt at 10% interest rate.
Lil Goodness Final deal
The final deal was closed with Peyush for 50 lakhs at 1% equity and 50 lakhs debt at 10% interest rate.