The Healthy Binge Raised INR 50 Lakhs From Shark Tank 2.0

Healthy Binge is a Pune-based startup founded by cousins and brothers, Pranav Korke and Karan Korke in 2021. In India, a lot of people eat fast food, which has become very popular and created a big industry worth 50000 crore rupees. People of all ages enjoy snacking a lot. To help people eat healthier snacks, a company called Healthy Binge started making snacks using ingredients like jowar, bajra, millets, ragi, and quinoa in the year 2021. They have already distributed more than 13 lakh packets of their snacks. You can find their snacks on 15 different platforms such as Amazon, Flipkart, Big Basket, and their own website. The Healthy Binge brand offers a variety of flavors like Masala, Cheese, BBQ, Chaat, Cajun, and Salted Caramel in their snacks. They have different products like Ragi Crispies, Moringa Jowar Crispies, Amaranth Crispies, Quinoa Crispies, Jowar Crispies, and Multigrain Namkeen Mix in their range of healthy snacks.

Related: Eva Scalp Cooling System Strikes Major Deal on Shark Tank India

Two relatives, Pranav Korke and Karan Korke, who started a company together. Pranav is from Nagpur, and he moved to Pune for his education. He studied business at SP College in Pune and later went to Australia to do his CPA and master’s degrees. When he came back to India, he decided to start a business that wasn’t related to finance. Karan, on the other hand, was born and raised in Nagpur. He also went to Pune for his education and got an MBA in marketing from Symbiosis University. Both Pranav and Karan worked together to start this project.

The Healthy Binge is a company that makes and sells healthy snacks directly to customers through their own website and other online marketplaces like Amazon. They focus on making snacks from nutritious ingredients like jowar, bajra, and quinoa that are baked and free from unhealthy stuff like cholesterol. They offer different types of snacks like cookies, chips, and namkeen in various sizes. Customers can get free shipping on larger orders. The company makes money by selling their snacks and keeps costs low by handling production and distribution themselves. To reach more people, The Healthy Binge uses social media a lot. They show their products on platforms like Instagram and Facebook, and work with online influencers to promote their brand to a bigger audience.

People of all ages in India like to snack, so The Healthy Binge makes snacks for kids, adults, and seniors. Their snacks are yummy, but also good for your health, with ingredients like jowar, bajra, millets, ragi, and quinoa that give you fiber, iron, protein, and calcium.

The Healthy Binge wanted to raise money by selling a part of their company (equity). They asked for 50 lakhs rupees in exchange for 5% of their company, which means the company’s total worth is 10 crore rupees. Two people, Aman and Peyush, decided to invest in this startup. They agreed to give the 50 lakhs rupees in exchange for 5% of the company, which is what the owners wanted. Aman is experienced in an online direct-to-consumer (D2C) business, so he offered to join the deal because he thought his experience could help the startup grow. Piyush, another investor, saw that Aman and Peyush were hardworking, capable, and humble, so he also decided to invest more money in the startup. In the end, the deal was finalized between Aman, Peyush, and the owners of The Healthy Binge for 50 lakhs rupees in exchange for 5% equity at a valuation of 10 crore rupees.

he Healthy Binge business has made a total of 56 lakhs rupees in sales since it started. Last month, they made sales worth 11 lakhs rupees. In August 2022, they made sales of 6 lakhs; in September 2022, sales were 7.5 lakhs, and in October 2022, they made 11 lakhs in sales. They earn their money both offline and online, with 40% coming from offline sales and 60% from online sales. However, even though they are making sales, their expenses are currently more than their income, so they are not making a profit. When they sell a product for 40 rupees, it costs them 12 rupees to make the product, and they pay 14 rupees to the wholesalers. This means they make a profit of 14 rupees on each sale. They also spend 10% of their income on marketing each month. They invested one crore rupees to build their factory. Two people, Karan and Pranav, own most of the business. Karan has 36% of the business, Pranav has 46%, and 16% is owned by their friends and family. Lastly, in April 2022, they received 1.13 crore rupees from friends and family as part of a capital round, which means their business was valued at 7.5 crores at that time.

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.