Shark Tank Raasa
In this episode of Shark Tank India Raasa, a company that gives name and branding to the unorganized food vendor sector presents his pitch. Will he get a deal from the sharks? To know about the deal read till the end.
| Company name | Raasa |
| Founders | Manik Sehgal |
| Ask | ₹50 lakhs for 5% equity |
Raasa Founders
Manik Sehgal is the founder. He was born and brought up in Delhi. He has completed his MBA from Delhi Time School of Marketing. Then he worked as a strategic planner in a marketing company for 15 years. Vikas Sharma is the co-founder of the company. He worked as a KPO. Both the founders have 45% equity of the company each and 10% equity lies with the street vendors.
About the company Raasa
We all have that favorite street food vendor whose food is our favorite to us. In India street food is quite popular but the vendors of the street food have to face several problems. In March 2022 Raasa was launched. Rasa is a company that gives name and branding to the unorganised food vendor sector. They talked with many food vendors and found five major problems such as these vendors having no major brand name.
The services provided are-
- Rasa provides them with branding and a unique ID number.
- They help them in procuring fssai license.
- They help these vendors on board Zomato and Swiggy.
- To save time from grocery shopping they provide them best groceries at reasonable price
- They provide them with training under chefs
His aim is to develop an ecosystem for this unorganized street food vendor. The Indian market size of this business is ₹3.5 lakh crores annually. His vision is to connect with 10 lacs vendors and increase their income three times in the upcoming 3 years.
Ask by the Owners Raasa
The founders made an ask of ₹50 lakh for 5% equity of the company at the valuation of ₹10 crores.
Raasa Sales And Revenue
Raasa worked with 20 kart partners. His August 22 sales is ₹40000
Offers and counter offers
Piyush stepped out of the deal as there is no tech co-founder in the company.
Amit stepped out of the deal as he felt there could be regulatory problems.
Namita and Aman step out of the deal as the company is at the prototype stage and currently not fit for investment.
Anupam gave an offer of 50 lacs for 25% equity of the company at the valuation of 2 crores with the condition of bringing a tech co-founder and providing him an equal equity share.
Raasa Final deal
The founder accepted the deal and the deal was finalized with Anupam at 50 lacs for 25% equity along with the condition of having a tech co-founder.