GoFig on Shark Tank India: Can Near-Expiry Discounts Work? Sharks Debate GoFig’s Model

Every year, ₹50,000 crore worth of FMCG products in India go to waste—either thrown away or burned due to expiration. GoFig, a Pune-based startup, has stepped in to change this.

Founded by Gaurav and Disha, the company sells near-expiry food and household products at heavy discounts, preventing waste while making everyday essentials more affordable.

Their goal is to make GoFig India’s first “green discount” company, ensuring that unsold yet perfectly safe products don’t end up in landfills.

Click here to visit their official website: GoFig

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1. Brands with expiring products contact GoFig.
2. Products go through a five-step quality check.
3. Discounts are determined based on shelf life.
4. Products are listed on their website and sold through kiosks.

With 40 brands already on board, GoFig is proving that sustainability and affordability can go hand in hand.

Both Gaurav and Disha bring years of experience from different industries and countries.

• Born in Pune, pursued engineering and an MBA in France.
• Worked at McKinsey in Germany for five years.
• Ran his father’s engineering company for eight years.
• Moved to Hong Kong for consulting before returning to India.

• A Godhra, Gujarat native with a bachelor’s degree from India.
• Completed her master’s in Chicago.
• Worked at a German tech startup and the German government.
• Held a Senior VP position at Bobble AI before launching GoFig in 2023.

Together, they bring a blend of corporate expertise, international business exposure, and entrepreneurial spirit to their startup.

Though still in its early stages, GoFig’s numbers show promising growth.

• June 2024: ₹90,000
• July 2024: ₹1,67,000
• August 2024: ₹2,27,000
• September 2024 (Projected): ₹3,00,000

Currently, products are sold through GoFig’s website and kiosks set up in universities, colleges, and high-footfall areas.

While the long-term vision is to expand into B2B partnerships, the company is currently focused on its pilot phase, testing demand through direct-to-consumer sales.

The founders entered Shark Tank India seeking ₹50 lakh for 2% equity, valuing their startup at ₹25 crore.

Their pitch centered around how GoFig helps FMCG brands minimize losses while providing consumers with discounted essentials.

The sharks, Namita Thapar, Aman Gupta, and Anupam Mittal—initially showed interest. A business that reduces waste while benefiting customers sounded like a win-win.

But as the conversation progressed, doubts started creeping in.

Even though the sharks didn’t invest, their feedback offered valuable insights for the startup:

1. Physical Presence Matters: In India, retail stores still play a crucial role in building consumer trust.
2. Valuation Must Match Revenue: A ₹25 crore valuation seemed too high for a pre-revenue startup.
3. Consumer Perception is Key: Marketing and education will make or break GoFig’s success.

GoFig has a unique concept, a growing customer base, and a strong mission. While the sharks didn’t bite, their feedback will help the company refine its strategy.

If the founders can adapt their model, expand sales, and win consumer trust, GoFig has the potential to disrupt India’s FMCG waste landscape.

While the concept was appreciated, the sharks had serious concerns about the business model.

Sharks Anupam, Ritesh, and Aman believed GoFig needed a retail presence, similar to Greenprice in Germany, which successfully runs physical discount stores for near-expiry goods.

They questioned whether a website and kiosks alone could generate enough sales. They suggested to launch dedicated brick-and-mortar stores for bulk sales and better margins.

Shark Namita raised concerns about how Indian consumers perceive near-expiry products.

Would people actually buy items approaching expiration, or would there always be hesitation and stigma?

Large retailers and e-commerce platforms already run their own discount programs. If brands start selling directly, where does that leave GoFig?

Without a clear differentiation strategy, the sharks worried the business could struggle to scale.

Shark Namita appreciated the vision but felt the business was too early-stage for investment. She was out.

Then, Shark Piyush Bansal made an offer, ₹1 crore for 33.33% equity. The founders countered with ₹1 crore for 5% equity, but Piyush didn’t budge.

With no middle ground, no deal was made, and the founders left the tank empty-handed.