TeaFit is an unsweetened beverage brand that aims to serve healthy but tasty beverages to all countrymen. Jyoti Bharadwaj, the founder of TeaFit, is a mom of two kids who resides in Mumbai and runs the business. She completed her business studies at one of India’s most prestigious institutes, ISB, Hyderabad.
The company’s vision is to reduce sugar consumption in the form of various beverages every single day.
More About TeaFit
The business has been in operation since 2022, making significant sales and garnering profits since it appeared on shark tank.
The company uses Ayurvedic herbs to create the beverages. In addition, they use German techniques and certain specific ingredients that add a hint of sweetness but do not add any calories.
The unique features of TeaFit include the-
- The products are entirely sugarless and free from any artificial sweeteners
- The beverages are brewed with green tea, black tea, and hand-toasted barley
- Formulation of 15 unique herbs
- FSSAI approved formulation
TeaFit Shark Tank Pitch and Updates
The founder of TeaFit appeared on Shark Tank India Season 2 Episode 6 and demanded INR 50 lakhs for a 3% equity at a valuation of 16.67 crores.
After the initial pitch, Anupam was interested in tasting the products. So Jyoti distributed all three flavors among the sharks. Even though they all liked the product’s taste and the “No calorie” benefit, they were shocked after learning about the price. Bur Jyoti explained her entire pricing in detail, and the sharks were very impressed.
After knowing about her costs, Peyush was curious about her sales. Jyoti explained that after the start of the previous year, she made INR 78,000 in profits for a sale of INR 15.5 lakhs in FY 21-22.
She is projecting to close around INR 45-55 lakhs this fiscal year, and her last three months’ sales were INR 2.5 lakhs, 2.1 lakhs, and 3.5 lakhs, respectively.
Even though her numbers were excellent, Anupam was confused about how she could scale the business. However, she explained beautifully how she plans to grow the business significantly, and Vineeta was immediately ready to give her an offer.
However, she explained that she already has a term sheet worth INR 1 crore on the table, valuing her company at INR 20 crores.
However, Namita was out of the deal stating that the other sharks would be able to help her more significantly than her in brand building.
On the other hand, Vineeta and Anupam were very interested in the business and wanted to invest INR 50 lakhs for 25% valuing the company at INR 2 crore. Hearing their valuation, Peyush offered her INR 50 lakhs for 20% valuing the company at INR 2.5 crores.
However, Aman gave a better deal of INR 50 lakhs for 10%, valuing the company at INR 5 crore. Immediately after, Vineeta and Anupam together, and Peysuh individually were ready to match the offer.
Jyoti countered everyone with a counteroffer of INR 50 lakhs for 8%, valuing the company at INR 6.25 crore. Peyush agreed to take the offer individually or with Aman, Anupam, and Peyush. All four sharks agreed to it, and Jyoti got a fantastic deal.
|Business||Unsweetened Beverage Brand|
|Shark Tank Episode||Season 2 – Episode 6|
|Asked For||INR 50 lakhs for 3% equity|
|Deal||INR 50 lakhs for 8% equity|
|Sharks Invested||Anupam Mittal, Vineeta Singh, Peyush Bansal, and Aman Gupta|
|Valuation Given||INR 6.25 crore|
Finally, Jyoti could secure an amazing deal from all four sharks except Namita.
Frequently Asked Questions About TeaFit
After their appearance on Shark Tank India Season 2, people were trying to find more information about TeaFit. Here are some of the frequently asked questions about them.
1. Who Is The Founder of TeaFit?
The founder of the company is Jyoti Bharadwaj. She completed her business studies at ISB, Hyderabad in 2013 and is currently running the business single-handedly.
2. Is TeaFit profitable?
TeaFit is a newly launched company, but they are already showing some amazing growth.
3. Why did the Other Sharks not invest in TeaFit?
Namita did not invest in TeaFit because she believed the rest of the sharks would be better investors and can help Jyoti in brand building.
4. What happened to TeaFit after the Shark tank?
TeaFit was able to secure a great deal on the Shark tank. Anupam, Aman, Vineeta, and Peyush came together to give her a deal of INR 50 lakhs for 8% equity for a valuation of INR 6.25 crore. They are planning to launch pre-mixes that are unsweetened. They’re also considering exporting options.