Shark Tank Diabexy
In this episode of Shark Tank India Diabexy, a company that produces low glycemic index foods presents their pitch. Will they get a deal from the sharks? To know about the deal read till the end.
|Founders||Lokendra Tomar and Nishu Tomar|
|Ask||1.5 crore rupees for 1% equity|
Lokendra Tomar, director and founder of the company. His wife is Nishu Tomar. They hail from Gurgaon, Haryana.Lokendra wanted to be a doctor but he failed to pursue that profession. He is a pharmacist and has knowledge about medicines and foods. He grew up with a low economic background. From childhood, he had the wish to run his own business. He got a job in SunPharma where he used to sell medicine related to diabetes. He discussed a book ‘how to make friends and influence people’ from where he got inspiration in his life.
Her wife Nishu helped in making keto products. She learnt digital marketing and started their business online. They got huge responses from Amazon.
Lokendra has written a book called New Theory of diabetes.
About the company Diabexy
Diabetes is a major problem among the people of India. More glycemic-containing foods mean more chance of diabetes. Glycemic is the parameter to measure how many levels of sugar are present in a particular food item. They have two categories of products.One category they sell as weight loss products and another is Diabexy, which is for diabetic patients. Diabexy manufactures such products which have 85-90% less glycemic content compared to other food products. The company was founded in 2020 and they have acquired a 3.5 lakhs customer base. Their mission is to eliminate diabetes in India. They have an avg. ratings of 3.5k-4.0k for maximum products. The company consists of 40 employees.
Ask by the Owners Diabexy
Pitcher asked for 1.5 cr. rupees for 1% equity.
Diabexy Sales And Revenue
The sales for their keto products: FY16-17; the sales were 65 lakhs, FY17-18; the sales were 1.5 cr. rupees, FY18-19; the sales werea 3.25 cr. rupees, FY19-20; the sales was 5.25 crore rupees, FY20-21; the sales was 8.25 cr. rupees and this FY21-22 the sales is 13 cr. rupees. Their net profit from the last FY is about 2.25 cr. rupees. The cost of COGS consists of around 33.33%, Another 33.33% is for marketing, distribution and overhead costs, and the remaining 33.33% is for taxes and profits. They have 70% of repeat customers. Sales of weight loss and diabetic products are around 50% for each. Last month’s sales were 1.1 cr. rupees. They have 16 SKUs.Their best-selling item is Atta which costs around Rs. 500. They use oligofructose which tastes sweet but will not increase the diabetic factor. They expected to raise the revenue to 500 cr. rupees in the future 5 years.
Offers and counter offers
Anupam stepped out from any deal.
Aman, Amit, Peyush, and Namita counters offer 1.5 cr. rupees for 20% equity.
The pitchers didn’t accept the offer.
Diabexy Final deal
No deal was finalized.