Shark tank india is now becoming a most crucial marketing platform for brands. And today we will talk about Lil Goodness in shark tank india. They appeared on Shark Tank India in Season 2, Episode 48. In this episode, Lil Goodness, a company offering unique Haldi chocolates, presented their pitch. Will the founder secure a deal from the sharks? To find out, read till the end.
About Lil Goodness
Lil Goodness is a startup that specializes in producing food and nutrition products for children and adults. Their products are uniquely crafted with traditional ethnic ingredients such as teff from Africa, turmeric from India, and special plant fiber from chicory roots. These ingredients are combined with everyone’s favorite food, chocolate, to create a fusion of traditional and modern components.
Their products offer various benefits, such as their prebiotic milk chocolate that contains turmeric and 35% less sugar. The cumin part of turmeric is extracted and masked under the chocolate to create a delicious and healthy treat. Additionally, they use 100% cocoa butter in their products to ensure premium quality.
Their teff puff is a blend of 23% teff, 23% quinoa, and 45% supergrains, providing a healthy and tasty snack option. Lastly, their oat milkshakes contain 50% less sugar, making it an ideal choice for health-conscious individuals.
In summary, Lil Goodness offers a range of nutritious and delicious products that cater to different taste preferences and dietary requirements.
|Legal Name||Happytizers Private Limited|
|Industry||Food & Beverages, Nutrition|
|Founder’s||Damanbir Singh & Harshvardhan|
|Number of Employees||11 – 50|
Lil Goodness Founders
The company was founded by Damanbir Singh and Harshvardhan, who hail from Chandigarh and Kerala, respectively. Interestingly, Harshvardhan and Peyush were classmates during school. Currently, Damanbir holds 8% equity and Harshvardhan holds 24% equity in the company
Lil Goodness Sales and Revenue:
The chocolates are priced at ₹20, and the monthly sales revenue amounts to 1.45 crores. Out of the total sales, 60% is from chocolates, 20% from milkshakes, 15% from puffs, and 5% from milk mixes. The gross margin for chocolates is 69%, for milkshakes it is 64%, for puffs it is 70%, and for milk mixes it is 59%, resulting in a blended gross margin of 66%. The monthly burn is 30 lakhs.
The total monthly expenses amount to 1.56 crores, out of which COGS is 47 lakhs, logistics cost is 23 lakhs, marketing cost is 19 lakhs, salaries are 27 lakhs, distribution cost is 12 lakhs, and one-off expenses are 25 lakhs.
Lil Goodness has raised 11.5 crores in funding to date, with 48% equity diluted.
Offers and Counter Offers By Shark’s
Peyush initially offered 50 lakhs for 1% equity and 50 lakhs of debt at a 12% interest rate, but Lil Goodness owners countered with an offer of 50 lakhs for 1% equity and 50 lakhs of debt at a 10% interest rate.
Lil Goodness Final deal
The final deal was ultimately closed with Peyush for 50 lakhs at 1% equity and 50 lakhs of debt at a 10% interest rate.