Skippi Ice Pops Achieves 40X Sales Surge After Shark Tank Debut

Skippi is India’s first ice pop brand was founded in India in 2021 by Ravi and Anuja Kabra with the goal of reviving the love for “chuskis” (ice pops) in a more natural and flavorful way. The brand was started after the founders recognized an untapped market opportunity for hygienic and trusted ice pop brands in India. Skippi aims to provide refreshing, teeth-friendly icy treats that are 100% natural, with no artificial colors or flavors. Skippi has a state-of-the-art manufacturing facility that adheres to strict quality and safety standards. The ice pops are made using only RO water and a patented technology, ensuring they are 100% natural.

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Skippi was launched in April 2021, after the founders conducted market research and saw a gap in the Indian market for this product. In 2020, during the COVID-19 pandemic, Skippi had to halt production but the founders persevered and relaunched the brand in 2021. A successful appearance on Shark Tank India in 2021 was a major turning point, leading to a 40x increase in revenue and sales. Skippi Ice Pops was appreciated by all the investors sharks on the show and became the first brand to secure investments from all five Sharks. Skippi has since rapidly expanded, now selling in over 10,000 outlets across 25+ states in India. The company received a funding of ₹1 crore (10 million Indian rupees) in exchange for a 15% equity stake in the business. The brand has won prestigious awards like the Franchise India Small Business Award and the Economic Times Award for Corporate Excellence.

After getting the investment deal from the Sharks, Skippi Ice Pops witnessed a significant increase in their monthly sales. Their monthly sales grew from ₹4-5 lakhs (400,000 to 500,000 Indian rupees) to a staggering ₹70 lakhs (7 million Indian rupees) per month. The brand also started expanding its reach by shipping their products to international markets, including Hong Kong, Nepal, Uganda, and Kuwait.

Skippi has raised a total funding of $226,000 over 2 funding rounds. Skippi’s first funding round was on October 29, 2021. In this round, the company raised $147,000. The round was a Seed round, which is typically an early-stage investment for startups. The post-money valuation (the company’s value after the investment) was $6,248,513. The revenue multiple (the ratio of the company’s valuation to its revenue) was 4,476,249. The investors who participated in this round were Thapar Vision, Culture Cap, and 2 more investors.

Skippi’s latest funding round was on March 30, 2022. In this round, the company raised $79,200. The post-money valuation was $5,997,100. The revenue multiple was 1,164,699. The investors who participated in this round were Ash Grove LLP, Eighty Seven Fifty Six Ventures, and 1 more investor.

Skippi has a total of six institutional investors, which include Thapar Vision, Culture Cap, and Ash Grove LLP. Thapar Vision holds the largest stake among the institutional investors in Skippi. Additionally, Anupam Mittal and two others are Angel Investors in Skippi.

Skippi has seen a very significant increase in its workforce, with the current employee count of 430 being almost 10 times larger than it was just about 2 years ago. This rapid expansion in the number of employees suggests Skippi is experiencing substantial growth and expansion as a company.

• Founders: The founders of Skippi currently hold 0.89% of the company’s shares. The net worth of the founders’ stake is estimated at INR 6.5 lakhs (approximately $8,500).
• Other People: The majority of Skippi’s shares, accounting for 82.59%, are owned by Other People.
• Enterprise: Enterprises or institutional investors hold 8.25% of Skippi’s shares.
• Angel Investors: Angel investors, which are typically high-net-worth individuals who provide early-stage funding, hold 5.51% of Skippi’s shares.
• Funds: Investment funds, such as venture capital or private equity funds, hold 2.75% of Skippi’s shares.

Shark Tank India is a reality show where budding entrepreneurs pitch their business ideas to a panel of investors, seeking funding and mentorship to grow their ventures.