New Delhi, March 5 (IANS) The guilt-free drink by FOMO Brews has bagged a deal of Rs 35 lakh with Aman Gupta and Anupam Mittal in the campus special episode of ‘Shark Tank India’ season 3.
The entrepreneurial reality show witnessed a pitch by young boys Avik Chaudhery and Gaurang Gadia, the founders of ‘FOMO’.
Gaurang is 21-year-old, and is studying Masters of Business Laws from National Law University, Bengaluru. Avik is pursuing executive MBA from Stoa, Bengaluru. They had started FOMO in the third year of college.
FOMO has freshly brewed iced teas, with no refined sugar, no preservatives, and no concentrates. It is available across restaurants, corporate offices, marketplaces and embassies. They are also launching milk mixes soon.
They asked for Rs 35 lakh for 4 per cent equity.
Aman (Co-Founder and CMO of boAt) asked them: “Where in DU were you?” To which Gaurang replied: “Hansraj College, and Hindu College.”
Speaking about their entrepreneurial journey, Avik said: “We’re very fond of iced teas. So, when we went to the market, we realised that iced teas have no tea in them. So, we saw this big gap and then Covid happened. People want to consume better. So, iced teas are a great option. Because it has tea, antioxidants.”
“We decided to sweeten it with honey and Khaand. We made samples at home and took it DU. When we felt that it’s good we started it,” he shared.
They have also recently launched iced tea premixes.
Ritesh Agarwal (Founder and CEO of OYO Rooms) said: “Tell us about the finance. What about the sales?”
Gaurang then gave a detailed description of their last seven month sales in 2023: “April-Rs 2.7 lakh, May- Rs 4.4 lakh, June- Rs 3.7 lakh, July- Rs 3.05 lakh, August- Rs 3.1 lakh, September-Rs 3.7 lakh, and in Оctober- Rs 3.4 lakh.”
Anupam (Founder and CEO of Shaadi.com) said: “Avik, Gaurang, I like you guys. You have the potential to learn. I think you’re adaptable. The best part is that after this conversation with you, two things are clear. Firstly, I feel that you guys have experience. You’re seasoned players. You have hustled. You have learnt quite a bit.”
“You listen and take feedback too. You’re open to it. I feel that we can build something together. We can set it in a direction that’s differentiated where it can take a position and capture the segment,” added Anupam.
Finally, they closed the deal at Rs 35 lakh for 6 per cent equity with Aman and Anupam.
‘Shark Tank India 3’ streams on SonyLIV.
–IANS
sp/lprw
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
