Shark Tank The Healthy Binge
In this episode of Shark Tank India The Healthy Binge, a ready-to-eat healthy snacks company presents the pitch. Will the founder get a deal from the sharks? To know about the deal read till the end.
| Company name | The Healthy Binge |
| Founders | Pranav Korke and Karan Korke |
| Ask | ₹ 50 lakhs for 5% equity |
The Healthy Binge Founder
Pranav Korke and Karan Korke. They are from Pune. They are cousins and brothers.
Pranav was born in Nagpur completed his schooling in Nagpur and then he shifted to Pune and completed his commerce from SP college in Pune. He went to Australia for his master’s in finance as well as CPA. From then he had in his mind that when he returned to India he would do it on his own. He will not be doing any job related to finance. So he started this venture.
Karan was born and brought up in Nagpur along with Karan. He then returned to Pune and did his MBA in marketing from Symbiosis University. Then both of them started this venture.
About the company The Healthy Binge
Consuming junk food has become so popular in India that it has led to a market size of 50000 crore rupees. Snacking has become common for all ages of people. So in order to make healthy snacks items The Healthy Binge was found. Healthy Binge is a company that makes snacks products from jowar, bajra, millets, ragi and quinoa. Their products contain dietary fiber equivalent to two apples, iron equivalent to a bunch of spinach, protein equivalent to an egg and calcium equivalent to half a glass of milk. 100% baked with zero percent cholesterol. Their products have 180 kcal and other products have around an average of 280 kcal. The USP are:
- 0% cholesterol
- No trans fat
- Gluten-free
- 0% maida
- 100% vegetarian
- No palm oil
- 100% baked
They started in the year 2021. They have sold more than 13 lakh packets. They are available on their own website and 15 marketplaces such as Amazon, Flipkart, Big basket, etc.
Ask by the Owner of The Healthy Binge
Pitchers asked 50 lakhs for 5% equity.
Shark Tank India Deyor
The Healthy Binge Sales And Revenue
Lifetime sales are 56 lakhs rupees. Last month the sales were 11 lakhs rupees. The sales in the month of Aug ’22 were 6 lakhs rupees, in the month of Sep’22 the sales were 7.5 lakhs rupees and in the month of Oct ’22, the sales were 11 lakhs rupees. They have sales 60% from online and 40% offline. They are not making a profit as they are burning cash per month. In 40 rupees selling price, 14 rupees goes to distributors, 12 rupees is for COGS. The net margin is 14 rupees. Their monthly marketing spend is around 10% on average. They have invested 1 crore rupees for setting up the factory. Pranav has 46% of the equity and Karan has 36% of the equity. The remaining 16% goes to friends and family. They have raised a capital round from friends and family in the month of April 2022 which was 1.13 crore rupees at a valuation of 7.5 crore rupees.
Offers and counter offers
Aman and Peyush together counter offer 50 lakhs rupees for 5% equity in the company.
The Healthy Binge Final deal
The deal was finalized with Aman and Peyush for 50 lakhs rupees in exchange for 5% equity at a valuation of 10 crore rupees.