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The Healthy Binge has raised INR 50 lakhs rupees in exchange for 5% equity at a valuation of 10 crore rupees. Aman and Peyush invested in this startup. The owners asked for 50 lakhs for 5% equity.
Aman and Peyush gave a counteroffer of 50 lakhs rupees for 5% equity in the company. Piyush invited Aman to join him with his online D2C business experience. That’s why Aman offers to join this deal. Piyush found Business Pichers very hardworking, capable, and humble. He said he would join them to invest further, which would take more money. And the deal was done with Aman and Peyush for 50 lakhs rupees in exchange for 5% equity at a valuation of 10 crore rupees.
Also Read SoulUp has raised INR 50 lakhs in exchange for 5% equity from shark tank season 2. Namita invested in this startup.
About The Healthy Binge
The founders of the company are Pranav Korke and Karan Korke. They are from Pune. They are cousins and brothers. Pranav, born in Nagpur, finished his education there before moving to Pune, where he attended SP College to earn his degree in business. He traveled to Australia to complete his CPA and master’s degrees in business. He decided then to handle it himself when he returned to India. He won’t be working in any financial-related positions. He, therefore, began this business. Karan was born and raised in Nagpur. After that, he returned to Pune to complete his MBA in marketing at Symbiosis University. Then they both began this project.
In India, eating fast food has become so common that it now has a 50000 crore rupee industry. Snacking has become widespread among individuals of all ages. Therefore, Healthy Binge was discovered to create healthy snack products. The Healthy Binge creates snacks using jowar, bajra, millets, ragi, and quinoa. In the year 2021, they began. More than 13 lakh packets have been distributed. They are offered on 15 platforms, including Amazon, Flipkart, Big Basket, and others, and their website.
Many new flavors like Masala, Cheese, BBQ, Chaat, Cajun, and Salted Caramel flavors are available in The Healthy Binge Brand. In their product range, Ragi Crispies, Moringa Jowar Crispies, Amaranth Crispies, Quinoa Crispies, Jowar Crispies, and Multigrain Namkeen Mix.
The Healthy Binge business statistics:
The company’s lifetime sales are 56 lakhs rupees. Sales for the previous month totaled 11 lakh rupees. Sales for August ’22, September ’22, and October ’22 totaled 6 lakh rupees, 7.5 lakh rupees, and 11 lakh rupees, respectively. They generate 40% of their revenue offline and 60% online. Due to their monthly cash burn, they are not earning a profit.
In a 40 rupee sale, 12 rupees go to COGS, and 14 rupees go to wholesalers. 14 rupees is the total margin. Their typical monthly marketing expenditure is 10%. They put one crore rupees into the factory’s construction. Karan holds 36% of the stock, while Pranav holds 46%. A further 16% is given to friends and family. In April 2022, they received 1.13 crore rupees valued at 7.5 crores in a capital round from friends and family.
What Problem Do They Solve
At The Healthy Binge Business, they are providing you with tasty and nutritious alternatives to replace your junk fried foods that people of all ages will enjoy eating. Their goods have the same amount of dietary fiber as two apples, iron as a bunch of spinach, protein as an egg, and calcium as a half-glass of milk. 100% cooked with no cholesterol at all. Their products have 180 calories, while other items generally have 280 calories. The USPs include zero cholesterol, zero toxic fat, Gluten-free, 0% maida, completely Vegetarian, zero palm oil, and 100% baked.
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