Gud Gum Has Raised Rs 80 lakhs From Shark Tank India S3

Gud Gum Has Raised ₹80 Lakh for 10% Equity from Shark Tank India Season 3. Anuapm, Ritesh, Aman, and Vineeta invested in this startup. Pitchers made and asked for ₹50 lakh for 5% equity. And the deal was done with ₹80 Lakh for 10% Equity +4% Royalty Until ₹80 Lakh is Recouped.

Also read: Eva Scalp Cooling Has Raised ₹ 30 lakhs From Shark Tank India S3

About the Gud Gum:

Gud Gum Shark Tank Business presents Chewing Gum with a very unique twist. He has presented India’s first plastic-free & 100% natural chewing gum in Business Pitch.

Made with Tree Sap Ingredients along with Natural sweeteners and Food Compositions. They have tried to present a responsible business by providing Sustainable Consumption and Nature-Friendly Products.

This Biodegradable Chewing Gum was introduced in 2022 after the COVID lockdown by implementing food research on Gud Gum Ingredients.

Instead of an Artificial Ecosystem, Tribal Farmers get employment in this ingredient supply and Harm Free Business Production Activities for everyone.

About the Founders:

The founders of the company are Mayank B Nagori and Bhuvan Nagori. In this company Bhuvan Nagori holds 50%, Mayank Nagori holds 30%, and Mayank’s wife holds 20%.

Mayank B Nagori has graduated with an Engineer’s Degree in Chemical Engineering from B. M. S. College of Engineering. He turned his post-graduation towards food interest while doing a Master’s Degree in Food Production Management from the University of Nottingham. He has worked on roles such as Digital Content and Product Management and gained experience in food product development at food businesses like Merhaki Foods and Nutrition, Lo! Foods, Tea Potions, and Skoosh – Sip Pop Chew.

He has also been the co-founder of Qrackpots, The Soft Corner and Pani Foods, out of which he has a lot of experience in Food Business Entrepreneurship. From February 2022 till now he has been working on full-time entrepreneurship for Gud Gum.

Bhuvan Nagori has graduated with a Bachelor of Business Administration (BBA) from Christ University, Bangalore. He worked as a Retail Sales Manager at Masterpiece Hardware for over 3 years. After that worked for more than 3 years at Pani Foods Proprietorship for Instant Food Brand HUKI for Business Vision of Healthy Foods for Guilt-Free Fruit Snacks. Then from 2021, along with being the Gud Gum Founder, he worked on its development and goal of Zero Plastic & Sustainable Consumption Product.

Gud Gum Business Statistics:

Gud Gum has been provided to 17 thousand customers. Apart from its website and Amazon, it is currently being sold in 120 more retail stores in 14 Indian cities. Currently, the target customers for this business are 22 to 45 years of age. The price of Gud Gum Product is ₹100. The Product has 4 customer segments – Athletes, Parents & Kids, Smokers and Diabetic People who can use it.

Indian Chewing Gum Market Size is approximately ₹1000 crore. But this is not a product that fits into it instantly. The business orients its products more towards the customer thinking about healthy Gummies and Confectionery. They are planning to further develop their product range with Lollipops, Candies and Cough Drop Mix. Currently, there are 9 SKUs of Gud Gum and have 4400 Instagram followers.

According to Gud Gum Unit Economics (MRP – ₹99), COGS is ₹23, Salaries expenses are ₹7, Admin Cost is ₹3, Shipping charges are ₹7, advertisement & Marketing costs are ₹7, Rent & Electricity expenses are ₹3, Profit Before tax is ₹20.3, Blended Discount is ₹10.9 and GST cost is 17.8.

Gud Gum Chewing Gum Sales in FY 22 -23 were ₹29.7 lakh, in FY 23 -24 (till now) ₹53 lakh and Projected sales in FY 23 -24 are ₹1 crore. Its 50% of sales come from online platforms and the other 50% come from offline.

The Business Vision of Gud Gum:

Gud Gum’s vision is to introduce India’s inaugural plastic-free and 100% natural chewing gum to all while delivering a responsible business product that eliminates the harmful effects associated with traditional options.