Healthy Snack Revolution: How Green Snack Co Captured Investor Attention on Shark Tank India

Green Snack Co, established by Chetan Sharda and Jasmine Kaur, is dedicated to providing healthy snacking options. They offer a variety of tasty snacks that celebrate authentic Indian flavors and are free from MSG and preservatives. Their goal is to change people’s eating habits, focusing on better ingredients and promoting a healthier planet.

Before the pandemic, their products were sold in 30 cities across India and in five international markets, with over 90% of their sales coming from physical stores. However, the pandemic significantly impacted their sales. In response, the company adapted and made a strong comeback. Currently, they proudly serve more than 1 million customers who are interested in leading a healthier lifestyle.

Chetan and Jasmine were looking to raise ₹1 crore by offering just a 2% ownership in their company, which puts its value at ₹50 crores. They shared their sales performance before the pandemic, showing that their revenue went from ₹2 crores in the financial year 2017-18 to ₹7 crores in 2018-19. Even with the challenges brought by the pandemic, they managed to generate ₹2.5 crores in FY 2020-21, and then their sales rose again to ₹4 crores in FY 2021-22. Remarkably, in just the last month, they brought in ₹25 lakhs, indicating a strong recovery after the pandemic.

Related: Haircare Brand Manetain Won ₹75 Lakhs for 10% Equity on Shark Tank India

Chetan Sharda and Jasmine Kaur are the founders of Green Snack. Jasmine graduated from Delhi University and has a background in banking. She also gained experience in the retail sector while working at Merico. Chetan, who also completed his schooling and higher education in Delhi, spent eight years in the real estate industry before starting this venture.

In 2016, Chetan and Jasmine secured their first funding round from angel investors, raising ₹1 crore at a valuation of ₹13 crore. The following year, they raised ₹3.2 crores at a valuation of ₹23 crore. An additional investment of ₹8 crore came from the same investor through a convertible note. Before the pandemic, they managed to raise another ₹5 crore, combining it with the previous ₹8 crore investment, leading to a total company valuation of ₹67 crores. At the time of their pitch, the founders owned 53% of the equity.

Despite generating ₹4 crores in revenue last year, the company faced a setback, burning through ₹1.5 crores, and they had only ₹10 lakhs left in their bank account when they pitched to investors. This left them with little time before they would run out of funds.

Aman decided to drop out, mentioning that he runs two businesses, Let’s Try and Beyond Snack, which are both growing profitably. He expressed concern when the founders claimed that most businesses require working capital for growth in the current market. Following his lead, Anupam also exited, stating he doesn’t invest in businesses with uncertain health claims and encouraged the founders to reassess their approach.

Namita exited as well, raising concerns about the sodium level in their products, believing that it wasn’t healthy. Amit also chose to leave but commented that the business needs a more modern founder to move beyond outdated ideas.

However, Vineeta was able to connect with their struggles, sharing her own experiences during tough times. She offered a non-negotiable deal of ₹1 crore for an 8% stake in the company, which the founders accepted without any hesitation.

Our investigation into the company showed that their deal with Vineeta Singh on Shark Tank India did not finalize after the episode was broadcasted. Although Green Snack experienced a temporary increase in popularity following their appearance, they ultimately ceased operations in May 2023. As of July 2024, there have been no updates or news regarding them.

Shark Tank India showcases a dynamic platform where aspiring business owners pitch their concepts to influential investors, hoping to gain the support and resources needed to scale their enterprises.