Licksters has raised INR 25 from shark tank India season 2. The founders asked 50 lacs for 5% equity of the company at the valuation of 10 crores. Amit invested in the startup for 5% equity of the company at the valuation of INR 5 crores and INR 5 Lakhs debt.
According to Namita pricing of the product is relatively high, and she stepped out. Then Aman found pricing and potential issues in the product, and he stepped out too. Peyush stepped out of the deal as he is currently an investor in skippy ice popsicles. Anupam said the logo and the product’s name could be misunderstood and stepped out of the agreement.
In the end, Amit gave an offer of ₹25 lakhs for 5% equity of the company at the valuation of ₹5 crores and ₹25 lakhs debt. He specially mentions working on the price of the product.
The founders of the company are Parimal Kalikar and Dhivya Subburaju. Parimal is from Maharashtra, whereas Dhivya is from Tamil Nadu. Parimal has also done hotel management.
Parimal and Divay Once took a challenge of no sugar and no dairy products for 100 days. In this challenge, they didn’t have sugar or dairy-made products, including milkshakes, lemonade, chips, and ice creams; they only ate fruits. After the challenge, they took the first scoop of ice cream. The superior taste they could get was of chemicals. And then, they decided to make ice cream with the authentic taste of fruits and not with chemicals.
Licksters is India’s first premium popsicle and ice cream brand, which contains the most fruit content, more than 80% fruit without artificial colour or chemicals. They make three types of ice cream – Greek yoghurt bars, vegan bars, and ice cream bars. Also, premium ice creams and shakes. They currently have 30 flavours and sugar-free options. All this started with the small room. Currently, they have a 500 square feet area. They highly ensure to maintain the quality of the product.
The sales in 2019-2020 were 9 lakhs; in 2020-2021, they were 16 lakhs; in 2021-2022, it was 65 lakhs, the in the year 2022-2023, it was again 65 lakhs. In the first 6 months and the year, projected sales were 2 crores. Their last month’s sales were 14 lakhs. The gross margin from their store is 70 to 72%, with a net margin of 40%. The product they sell to franchisees, the gross market becomes 50% with a net margin of 20 to 23%. On popsicles, the margin is 40%, and on ice cream, it is 50%. Their lifetime sales are more than two crores, and they aim to make 5 crore sales with the franchise in the upcoming year. They are also available in their stores on Zomato and Swiggy.
Problem solved by Licksters
Some of the most common ingredients in chemical ice creams are ice crystel, air, fat globules, sugar, and flavouring agent like vanillin. Too much consumption of these can cause diseases like heart and lung diseases. Therefore, Licksters decided to make ice cream with the authentic taste of fruits, not chemicals. It comes with a natural fruity flavour and gives you the goodness of fruits.
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