Oral Care Startup Perfora Secured ₹ 80 Lakhs for 2.5% Equity On Shark Tank.

Perfora, Many common toothpaste brands contain sodium phosphate, which can be harmful. Some well-known brands that include this ingredient are banned in countries outside of India. Rising costs in the dental care market can be attributed to a general lack of awareness about oral hygiene. To address this issue, they have introduced India’s first “Made Safe” toothpaste, crafted with premium ingredients and natural flavors. Perfora stands out as a unique oral care brand with a wide range of products. Its offerings include toothpaste, alcohol-free mouthwash, smart electric toothbrushes, teeth whitening products, a smart water flosser, and the Perfora Majestic Blue Electric Toothbrush.

Click here to visit their official website: Perfora

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The company was founded by Jatan Bawa and Tushar Khurana. Tushar is 28 years old and comes from Haryana, while Jatin is 29 and hails from Maharashtra. Both of them graduated with bachelor’s degrees in commerce from Delhi University. They met during the Jagriti Yatra entrepreneurship program. Tushar is responsible for sales and financial accounting, while Jatin manages new product development, supply chain processes, and brand communication.

The company was established in August 2021 and has already provided services to over 40,000 customers. Its mission is to transform the oral care market and reach a goal of one crore customers. A well-known brand sells a 100 g product for 100, while Perfora offers its product at 249. In April 2021, they completed their first investment round, raising 2 crores at a post-money valuation of 13 crores. They did not pursue a second investment round in February 2022 but instead raised 7 crores at a post-money valuation of 39 crores.

Their monthly expenses amount to 77 lakhs, with a cash burn of 27 lakhs. The company currently enjoys a gross profit margin of 57%. Marketing expenses represent 45% of their revenue. On social media, they have 10.2k followers on Instagram.

The entrepreneurs showed their products, and two investors, Anupam and Aman, praised the quality and freshness of their products. When asked about a specific ingredient (SLS) compared to a leading brand, Jatin (one of the entrepreneurs) confirmed that their product contains SLS too. They also discussed other products in the market, but the entrepreneurs claimed they were the first to create something like this.

Namita, another investor, asked about prices. The entrepreneurs revealed their product, named Perfora, costs 2.5 times more than their competitors. They mentioned they need more information to support claims about their product’s benefits. The entrepreneurs expressed their hope to become a well-known brand in India, like a “better version of Colgate,” but made locally. They explained that their company’s value had increased significantly because their sales had gone up 2.5 times.

Anupam asked why they didn’t use fear in their marketing, but Jatin explained that they wanted to offer a more positive message to consumers. They also mentioned they aim to grow the business profitably in the future. The entrepreneurs set a goal to reach 2 Crore (20 million) in monthly recurring revenue (MRR) in 9 months, expecting to break even when they reach 3 Crore MRR. They anticipated their profits would be negative (-15% EBITA) at that point.

Vineeta, one of the sharks, made an offer to invest 80 Lakhs (8 million) for a 4% share in the company, and Namita wanted to join her investment. However, the entrepreneurs turned down this offer, saying it wasn’t good for their current investors.

When asked what would be the best offer from all five investors together, the entrepreneurs said they would only agree at the same company value as before. Anupam then decided to leave the deal, saying they did not have enough new ideas. Aman also left because he thought the company’s value was too high. In the end, the remaining sharks agreed to invest 80 Lakhs for a 2.5% share in the company.

Our investigation revealed that Perfora successfully completed its deal with the Sharks and has been thriving ever since. The official Shark Tank Instagram account shared a video showcasing the entrepreneurs’ journey on the show and how it significantly boosted their brand.

Namita posted on social media that their monthly sales soared from about 70 lakhs to 3.5 crores (a fivefold increase) within nine months after she heard their pitch. Additionally, they raised funds three months ago at a value that was double what it was during their Shark Tank appearance. Both founders are under 30 years old, have backgrounds in consumer products, and met at an event called Jagriti Yatra, where their story began.

As of October 2024, Perfora is still performing well, with over 80,000 followers on Instagram. They regularly collaborate with influencers and other brands to create buzz around their products. Moreover, they have expanded their range to include new items like tongue cleaners and gum care products.