The startup Let’s try, has raised INR 45 lakhs for the equity of 12% from Shark Tank India. Sharks Anupam Mittal, founder of Shaadi.com, and Aman Gupta, CEO of boAt, invested in this startup jointly.
The startup owners originally asked for INR 45 lakhs for the Equity of 2%. Anupam offered 25 lakhs for 10% ownership and a loan of 20 lakhs. Anupam and Aman have amended their offer and offered 45 lakhs for 15% equity. Pitchers reacted with a counteroffer of 45 lakhs for 10% equity. And finally, they closed the deal at INR 45 lakhs for 12% of the equity by Aman and Anupam.
About Let’s Try
Nitin Kalra, Chitra Kalra, Neelam Kalra and Geetanjali are the founders of the startup. Snacks and junk meals are popular among today’s children. They are not healthy. Palm oil and artificial additives also add to these unhealthy foods. Customer opinions and preferences don’t take into account. There are no high-quality ingredients used. The owners decided to create Let’s Try to change this. They give nutritious and high-quality snacks to people of all social classes and backgrounds. They provide 50 different healthy and tasty snack options. They employ between 30% and 50% of the base ingredients. For example, 40% of flax seeds are utilised in flax seeds bhujia. They fried entirely of groundnut oil and did not contain chemicals or preservatives. They are available at e-commerce stores, modern stores, and 600 other stores. They also have a website where they sell their goods.
The company is valued at 22.50 crores in gross profit and sales. Last month, they made four lakhs from the makhana snacks department. Their prices are 15% higher than Haldiram’s. They started with INR 50,000 sales and spent no money on marketing. Their sales have climbed to 16 lakhs in just seven months. Their gross margin is between 55 and 60%. And the net margin should be between 25 and 30%. Their net profit is 25% of the total amount of 16 lakhs. By the end of the month, they will have made a profit of 40 lakhs.
Problem Solved By Let’s Try.
Everyone wants to be healthy and fit. There are 95 out of 100 snacks in the market due to low-quality oil and material. These unhealthy foods bring several illnesses, and these healthy snacks provide health benefits to people. These snacks are free of preservatives, lousy oil and artificial additives.