Goenchi Feni Has Raised ₹2 Crore From Shark Tank India S3

Goenchi Feni has raised ₹2 crore from Shark Tank India Season 3. Shark Deepinder Goyal has invested in this startup. Pitchers made an ask of ₹1 crore for 5% equity. And the deal was done with ₹2 crore for 15% equity in the company.

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About the Goenchi Feni:

The term “Goenchi Feni” originates from the Konkani language, where “Goenchi” means “of Goa,” and “Feni” refers to Goa’s indigenous alcohol. While most are familiar with the fermented alcohol produced from cashew apples, Goenchi Feni offers a range of other varieties. These include Feni crafted from coconut flower nectar and distilled using the traditional Copper Still Distillation Process. From Single Ingredient Feni to The Spirit of Goa Feni, the range encompasses various types, all produced through natural fermentation methods.

About the Founders:

The founders of the business are Yash Sawardekar and Tulika Sawardekar. Yash Sawardekar worked as a Flight Attendant at Qatar Airways for more than 4 years before starting this business. Tulika Sawardekar did her college studies at Mithibai College and graduated with a Bachelor’s in Management Studies from Mumbai University.

Goenchi Feni Business Statistics:

The business was started in April 2023. It is available in more than 100 premium wine stores and retail outlets in Goa. Feni Market Size In Goa is approximately ₹460 crore. 

Their gross margin is 42.8%. Sales for September 2023 were ₹10 lakh. And the valuation of the company is ₹20 crore.

The unit economics of Goenchi, priced at ₹1449, reveal a cost of goods sold (COGS) amounting to ₹620, with additional expenses including ₹180 for marketing, ₹74 for tax collected at source, and ₹100 for distributor margin. Retailers earn a margin of ₹190 per unit, while ₹71 goes towards income tax. After factoring in all costs, the net profit per unit stands at ₹214.

The Business Vision of Goenchi Feni:

Goenchi Feni aims to introduce the essence of India’s alcohol heritage, along with its rich history, to a wide audience through the traditional method of Feni distillation.

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