TribalVeda on Shark Tank India: Can This Startup Turn Jamun into a Profitable Business?

TribalVeda is a health-focused startup launched by Rajesh Ojha and Pooja Ojha, a husband-wife duo from Jaswantgarh, Udaipur. The company specializes in processing wild jamun and custard apples into long-lasting, preservative-free health products.

Instead of letting tribal communities sell jamun at throwaway prices, TribalVeda buys, processes, and extends its shelf life, ensuring that both the farmers and the business benefit.

So far, the company has processed over 5 lakh kilograms of jamun, working with 5,000 tribal women to build a sustainable supply chain.

Click here to visit their website: TribalVeda

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Rajesh grew up in a small village in Udaipur and left for Mumbai at 16 in search of better opportunities. However, years later, he realized that the real treasure was back home.

His village had an abundance of jamun trees, but the fruit’s shelf life was just one day. This forced tribal women to sell jamun at extremely low prices, and much of the produce went to waste.

This sparked the idea, what if jamun could be processed into long-lasting products?

With that vision, TribalVeda was born. Today, the company sells:

• Jamun shots
• Jamun strips
• Jamun cubes
• Jamun juice
• Other seasonal fruit-based products

By extending the shelf life to 6–18 months, the startup makes jamun-based health products accessible year-round.

Rajesh studied until 12th grade before moving to Mumbai in 2002. He worked as a delivery man, helper, and salesman before eventually launching his own commodity broking firm in 2011.

However, after running it for three years, he shut it down and returned to his village.

In 2018, Rajesh borrowed ₹80,000 from friends and ₹4 lakh from the bank to start a B2B jamun pulp business. Seeing the market opportunity, he expanded into consumer products in 2022.

TribalVeda has shown strong revenue growth, especially in B2B sales.

TribalVeda’s B2B Sales

• FY23-24: ₹1.74 crore
• FY24-25 (Till Nov): ₹2 crore
• Projected FY24-25: ₹2.5 crore

TribalVeda’s B2C Sales

• FY23-24: ₹42 lakh
• FY24-25 (Till Nov): ₹91 lakh
• Projected FY24-25: ₹1.8 crore

The company earns:

• 70% from direct website sales
• 22% from events and farmers’ markets
• 8% from online marketplaces

Despite steady growth, scaling a jamun-based business remains a challenge, something the sharks quickly pointed out.

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

They positioned TribalVeda as a health-focused brand, emphasizing:

• Jamun’s benefits for diabetes, digestion, and immunity
• Sustainability and support for tribal communities
• Expansion into other fruit-based products

But while the sharks respected the mission, concerns arose about scalability, taste, and market demand.

Shark Vineeta Singh questioned whether jamun-based products had enough demand to justify large-scale expansion. She felt that jamun had limited consumer appeal, making mass adoption difficult. She stepped out.

Shark Kunal Bahl admired the entrepreneurs’ dedication to helping their community, but he didn’t see a strong reason to invest. “This business needs working capital, not venture capital,” he advised. Instead of selling equity, he suggested raising a bank loan. He decided to step away.

Shark Namita Thapar had a personal connection to jamun, sharing memories of a jamun tree in her childhood home. However, after tasting TribalVeda’s jamun strips, she was unimpressed. “I’ve had mango strips, and those were great. These weren’t very good,” she said. Concerned about taste appeal, she opted out.

Shark Anupam Mittal respected the hard work behind the brand but wasn’t sure how he could contribute as an investor. Seeing limited scalability, he stepped away.

Shark Ritesh was the only shark willing to invest, but not without concerns. He initially offered, ₹50 lakh for 7.5% equity

The founders countered with ₹1 crore for 5% equity.

After negotiations, Ritesh agreed to ₹50 lakh for 5% equity (2.8% equity + 2.2% advisory equity). This gave TribalVeda a strategic investor, without giving away too much ownership.

With Ritesh Agarwal’s backing, TribalVeda now aims to:

1. Expand its product line: Introducing more fruit-based health products.
2. Strengthen B2C sales: Building brand awareness beyond Mumbai and Bengaluru.
3. Improve taste and packaging: Addressing consumer feedback on flavor and quality.

The founders also revealed that Zerodha is investing ₹2.5 crore, further boosting their growth.

1. Investors prefer scalable markets: Niche products like jamun face growth limitations.
2. Financial clarity is essential: Sharks often recommend bank loans for working capital needs.
3. Product quality must be top-notch: Taste and texture can make or break consumer demand.

TribalVeda entered Shark Tank India with a strong mission and solid sales numbers.

While most sharks backed out, Ritesh saw potential and invested. Now, the real challenge is scaling the brand beyond niche markets.

With the right improvements and strategic growth, TribalVeda has the potential to turn a seasonal fruit into a sustainable business.