Shark Tank Nutricook
In this episode of Shark Tank India Nutricook, oilless and waterless cookware presents the pitch. Will the founder get a deal from the sharks? To know about the deal read till end.
|Founders||P Ravi Kumar Reddy and Asha V M|
|Ask||₹1 crore for 2% equity|
P Ravi Kumar Reddy and Asha V M are the founders of the company. Ravi is from Andhra Pradesh whereas Asha is from Bangalore.
About the company Nutricook
If you want to remain healthy you need to eat homemade food. But homemade food can also be unhealthy. There are two reasons behind this, one is the unhealthy way of cooking food and another is the utensils we used. Vegetables are boiled or fried in oil hence all the nutrients are lost. All this can lead to health problems such as obesity, heart problems and much more. The aluminium tougher-made utensils can lead to cancer formation in the body. To solve all these problems Nutricook, oil-free and waterless cookware is introduced.
Features of Nutricook cookware;
- It is made of 316 L surgical-grade steel.
- The cookware base is made of different alloys.
- Up to 50% gas can be saved
- It provides a cool handle with a thermowatch.
- It has multi cooking system
Their vision is to reach every home in India with Nutricook.
Ask by the Owner of Nutricook
The owners asked for a 1 crore investment for 2% equity of the company at the valuation of 50 crores.
Nutricook Sales And Revenue
Sales in 9 FY 19 to 20 is 80 lakhs but due to Kuwait selling dropped ani in FY 20-21 is 12 lacs, and sales in FY 21 to 23 is 1 crore. Sales in last month was 8 lacs. They have sold their products to more than 2500 customers. The set price is ₹⁵432710. The making cost is 40% of the selling price. Gross margin is 60%. They have raised an investment of 4 crores. The conversion ratio is 50%. Lifetime sales were 6 crores.
Waggy Zone Shark Tank
Offers and counter offers
Veenita gave an offer of Rs 50 lacs for 10% equity of the company and in 50 lacs debt at 12% interest rate.
Owners give a counter offer of 1 crore for 10% equity of the company and 50 lacs debt at 12% interest rate.
Nutricook Final deal
The final deal was closed with Veenita for Rs 50 lakhs for 10% equity of the company and 50 lacs debt at 12% interest rate.