Spice Story Raised INR 70 Lakhs From Shark Tank Season 2.

Spice story Has Raised INR 70 lakhs in exchange for 5% equity from Shark Tank India season 2. Namita invested in this startup. Pitchers asked for 70 lakh rupees in exchange for 2% equity. Namita offered 70 lakhs for 5% equity in the company.

Remaining all sharks stepped out of the deal.

About the company Spice Story

The founder of the Spice story is Soumyadeep Mukherjee from Mumbai. Vibhor Rastogi and Gayatri Gogate are 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.

The company started in the year of 2019. The spice story is a brand that brings you street flavours in a modern sauce form. They own a website for the company and are also available on SwiggyInstamart, Zomato, Big Basket, Flipkart, and Amazon. They are also available in 1700 stores across 5 cities. They aim to spread the streets’ flavours to every corner of the country.

Soumyadeep has 38% of the equity, Gayatri has 12%, and Vibhor has 4% equity. 21% of the equity is with the other two founding members. 25% is with the investors. The unit price is around 150 rupees.

Spice Story Business Statistics:

In the year 2019-2020, sales were 1.5 crore rupees. In the year 2020-2021, the sales were 2.5 crore rupees. In FY 2021-2022, the sales were 4.1 crores. Last month’s sales were 57 lakhs rupees, and their projected sales are Rs. 9 crores. They have invested 65 lakhs of their own in the business and also raised two rounds of investment. In 2021, they increased by 1.7 crore rupees at a pre-money valuation of 10.6 crores. In 2022, they raised 3 crores at a pre-money valuation of 23 crores. The gross merchandise value is 57 lakhs, and the net revenue is 32 lakhs rupees. Revenue will be around 60 crores in the upcoming next two years.

Problem solved by Spice Story

Spicy Story is a brand that brings you street flavours in a modern sauce form. It comes in colourful and appealing packaging. According to them, chutney is a little flavour bomb with the potency to make food enjoyable. It is all about creating fun food stories. At spice story, the brand’s promise translates as its signoff – ‘The End of Boring’.

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