Lil Goodness has raised 50 lakhs at 1% equity and 50 lakhs debt at a 10% interest rate. Peyush invested in this startup. The owners made an ask for 1 crore for 1% equity of the company at the valuation of 100 crores.
Peyush offered 50 lakhs for 1% equity and 50 lakhs debt at a 12% interest rate. The pitcher gave a counteroffer of 50 lakhs for 1% equity and 50 lakhs debt at a 10% interest rate. And the deal was closed with Peyush for 50 lakhs at 1% equity and 50 lakhs debt at a 10% interest rate.
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About Lil Goodness
Harshvardhan and Damanbir Singh founded the business. Harshvardhan is from Kerala, while Damanbir is from Chandigarh. Peyush and Harshvardhan were classmates in school. Damanbir owns 8% of the company’s stock, while Harshvardhan owns 24%.
Lil Goodness Business is a Bangalore-based kid’s food and nutrition startup. Their tagline, “lil goodness nutrition that tastes soooo good,” perfectly reflects their ambitious goal. Its formal name is Happytizers Pvt Ltd. Teff from Africa, turmeric from India, and the unique plant fiber found in chicory roots are just a few of the ethnic traditional components used to make Lil Goodness products. Everyone’s beloved chocolate is combined with these products. Products are made from the fusion of traditional and modern components.
They have given unique aspects to the Lil Goodness category like Soothe Stress with Dark Chocolate, Power Up with Teff, Mood Lift with Milk Chocolate, Gudness of Jaggery, Bounce Back with Milkshakes, Marvel, KiddleMe Yogurt & Milk Squeezies, Gift Goodness, Immunity Booster, etc. which represent both the content and its properties.
Lil Goodness Statistics:
The company was launched in March 2020. The cost per chocolate is 20 rupees. Total sales are 1.45 crores each month. 60% of total sales come from chocolate, 20% from milkshakes, 15% from tuffs, and 5% from milk mixtures. Chocolates have a gross profit of 69%, milkshakes 64%, puffs 70%, and milk mixes 59%. Gross profit is 66%. 30 lakhs are burned each month.
Out of a total of 1.56 crores in monthly expenditures, 47 lakhs are COGS, 23 lakhs are spent on logistics, 19 lakhs on marketing, 27 lakhs on salaries, 12 lakhs on distribution, and 25 lakhs are spent on one-off expenses. They have so far collected 11.5 crores in funding, and 48% of their equity is diluting.
What Problem Do They Solve
Lil’Goodness is a brand of foods and snacks with an emphasis on health. Their company’s vision is to provide healthy food alternatives by modifying them to children’s tastes, which, in addition to enjoying modern food, also provides everyone with health.
The benefits of their various goods include: Milk chocolate with prebiotics, contains turmeric, and has 35% less sugar. The cumin component of turmeric is removed and covered up with chocolate. They only use cocoa butter, that is, 100% cocoa. Teff puff is made up of 45% super grains, 23% teff, and 23% quinoa. Shakes made with oats have 50% less sugar.
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