Startup NOCD has raised INR 50 lakh for the equity of 15% and INR 30 lakhs as debt. Shark Vineeta Singh invested in this energy drink manufacturing startup.
The original ask by the pitchers was INR 50 lakhs for the equity of 2%. Shark Ashneer thought the name was unappealing and told them it sounded like a drug name. As a result, he is taking a step back. Aman didn’t like the sales and marketing plan and informed them that he would have to put in a lot of effort if he invested. Vineeta Singh counters with a 20% equity offer for a debt of 20 lakhs and a debt of 30 lakhs. Pitchers took a few minutes to counter offer for 10% stock in exchange for 20 lakhs in debt and 30 lakhs in debt. But the deal was finalised at 20 lakhs for the equity of 15% and INR 30 lakhs as debt.
About NOCD
NOCD is a better beverage for a better world. Amino acids, folic acid, biotin, green coffee beans, and multivitamins. They worked with biotech scientists to create this formula. It includes no sugar and only five calories per can. They began their business in Bangalore and now have over 1100 locations, 300 of which are in Mumbai and the remaining 800 in Bangalore. They can also be found on e-commerce sites such as Amazon, Flipkart, Big Basket, and others. The pitchers are both fitness enthusiasts who dreamed of creating a healthy product.
The company is worth Rs. 25 crores. From 2019 to 2020, their net sales value is Rs.1.16 crores. Their sales for the previous month total of 17.2 lakhs. In October, they sold about 20 lakhs worth of merchandise. They have foreign offers from the United Arab Emirates. Each can cost 110 rupees.
Problem Solved By NOCD
In this world, everyone wants to be fit and healthy. It is a carbohydrate-free drink; there is a low chance of weight gain. This energy drink is also low in price compared to other energy drinks available in the market. It is entirely healthy for people of every age who drink it. And most importantly, it is India made Energy drink.
