The second episode of shark tank India presented another startup project from the shark tank India startups ‘Tagz Foods‘ list. The joint owners Anish & Sagar raised a substantial amount of INR 70 lakhs for overall equity of 2.75 percent by Shark Tank India investor ‘Ashneer Grover’ co-founder & MD of Bharat Pe.
Tagz Foods demanded the investment of INR 70 lakhs at the stake of one percent of equity from the sharks.
Though all the sharks seem keen on the business idea of popped healthy potato chips, the owners decided to choose the Shark Ashneer Grover after a few counteroffers between the joint stakes of Aman & Namita & a sole stake of Ashneer.
The final offer was accepted for the shark tank India Startup ‘Tagz foods’ as INR 70 lakhs for 2.75 % equity from the Shark Ashneer.
About Tagz Foods
The company was founded in 2019 by Anish Basu Roy & Sagar Bhalotia. The company has successfully fulfilled more than 2.5 lakh customers to date with an average gross profit of 48 percent per annum by utilizing an e-commerce b2c platform with no offline distribution channels.
The company has recently raised an undisclosed investment from Shark Namita Thapar, the executive director of Emcure Pharmaceuticals, beyond the show shark tank India.
Problem Solved By Tagz Foods
The company brought up lip-smacking snacking experiences with potato chips that are neither deep-fried, air-fried or baked for health-conscious segments of society on Shark tank India, Sony TV. The owner claims the popped potato chips to be India’s First with 50 percent fewer fats without any use of preservatives, palm oil or artificial flavors employing a new technique of popping used for making chips.
The company also offers dips in multiple flavors having the vision to expand its product line with the launch of hemp biscuits & handcrafted chocolates during the imminent years.