HoneyVeda ₹ 50 Lakhs for 20% Equity and ₹ 25 Lakhs Debt at 12% Interest Win on Shark Tank India

HoneyVeda, a well-known Indian business featured on Shark Tank India Season 2, specializes in providing pure, unprocessed honey sourced sustainably. The founders highlighted their eco-friendly methods that make honey extraction easy and prioritize the welfare of bees. Their honey varieties include Himalayan Forest, Ajwain, Fennel, and Eucalyptus (Nilgiri) – all natural without any additives. They have trained over 200 farmers and tribal members in Beekeeping.

Click here to visit their official website: HoneyVeda

Operating for about 9-10 months annually, HoneyVeda’s revenues have shown growth over the years – from ₹35 Lakhs in their first year to ₹51 Lakhs in FY21-22, and now at ₹53 Lakhs in FY22-23. Majority of their sales stem from B2B honey transactions, complemented by earnings from bee-related activities amounting to ₹9 Lakhs. With plans to expand their bee colonies using new investments, their current profit margin stands at 20%, with a projected net profit of ₹40 Lakhs for the current year.

Related: Licksters ₹25 Lakhs for 5% Equity and ₹ 25 Lakhs Debt Win on Shark Tank India

Kashyap Joshi and Hardik Joshi established HoneyVeda. They hail from Gujarat. Hardik gained 9 years of experience in a corporate setting before he embarked on a bee-related initiative named Purpose for Life.

Aman, Namita, and Peyush decided not to invest in the company for different reasons – Aman wasn’t interested, Namita felt the company wasn’t clear on its goals, and Peyush thought it was too early for investment. Later on, Anupam and Vineeta offered ₹50 Lakhs for a 20% stake in the company and an additional ₹25 Lakhs as a loan with 12% interest. The company’s founders took some time to consider this offer and then made a counteroffer of accepting ₹50 Lakhs for a 15% stake and interest-free debt.

Although the investors declined this counteroffer initially, they eventually agreed to the original terms, investing ₹50 Lakhs for a 20% stake and providing a loan of ₹25 Lakhs with 12% interest. This deal gave the company a valuation of ₹2.5 Crores.

From our investigation, we discovered that the collaboration between Vineeta, Anupam, and the company on Shark Tank India successfully concluded after the show. Although their items are still up for grabs on Amazon, it appears they have shifted their focus towards business-to-business sales, moving away from direct consumer promotions. This transition aligns with Anupam’s vision to steer the brand towards larger opportunities.

While we currently lack access to the company’s financial details, we will provide updates once more information becomes available.