SoupX has Raised ₹50 Lakhs for 18% equity + ₹25 Lakhs Debt @ 12% Intrest from Shark Tank India season 2. With their SoupX brand, Uttam Kumar and Priyank Jain participated in Shark Tank India Season 2 and requested INR 75 lakhs for 6% equity at an INR 12.50 crores valuation. This company’s valuation increased significantly in just two years.
Vineeta Singh made a 50 lakh rupee offer for 20% ownership and 25 lakh rupees in debt at 12% interest at a valuation of 2.5 crores.
The co-founder countered with 50 lakhs for 18 percent ownership plus 25 lakhs in debt at 12% interest at a valuation of 2.78 crores. Vineeta accepted the counteroffer made by the CO-founder.
About SoupX
A startup that delivers healthful soups is called SoupX. It is India’s top brand of economical, nutritious soup, salad, sandwiches, and smoothies. This company’s line of healthful cuisine is full of wholesome ingredients.
To provide customers with nutritious and fresh soup, Uttam Kumar and Priyank Jain started this brand in Gurugram, Haryana, India, in 2021.
Expert nutritionists have carefully calorie-counted and nutrient-dense all of their healthy foods. 80% nutrition and 20% exercise, according to some experts, are what we need to do to maintain excellent health.
SoupX is India’s first healthy soup-based food brand. They have over 99 different varieties of soups that professional nutritionists make. It also provides smoothies, salads, sandwiches and healthy and fresh soups.
These healthy diets can reduce weight loss, muscle gain, diabetes, wellness, and more. Before preparing nutritious soup and other items, it takes care of Low Carb, High Protein, Detox, General Wellness, Vegan, and Keto-friendly.
Oats And Roasted Red Pepper Soup, Hearty Lentil Soup, Smoked Chicken Soup, and many other soups are among the numerous available from the brand. These soups are priced at 189, 169, and 229, respectively.
This company uses both the on-demand order and subscription business models. The brand claims that it guarantees a quick delivery. Their sales in August 2022 were 8 lakhs. In July, they were 7 lakhs, and in June, they reached 6 lakhs.
After integrating with third-party food platforms (like Zomato, Swiggy, and many more), their gross margin rises to 45% in this case, from 70% to 75%.
They are currently burning between 1 and 1.5 lakhs of dollars in cash per month, according to their EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) results.
As of January 2023, this company only offers its services in Delhi-NCR, but it plans to extend such services to other states eventually. Although the firm has 231k Instagram followers, the engagement rate could be much higher.
Wanted to see, a list of startups who pitched in Shark Tank Season 2, Know more at https://wext.in/c/shark-tank/
Problem solved by SoupX.
SoupX, India’s first soup-based healthy meal business, are on a revolution to provide healthy and fresh meals at a reasonable price that would aid people in making a smooth transition to a healthy lifestyle. Nutritionists and chefs from famous institutions have mainly created over a hundred healthy soup recipes, and they are served with special healthy sides to provide a whole meal replacement choice. They have you covered for anything from weight loss to muscle gain, diabetic-friendly, or just general wellness.
For more information about Shark Tank India season 2 updates, check out Wext.in every day. Please feel free to forward this post to your friends and leave thoughtful comments if you find it interesting.
