SoupX A Soup Shark Tank India Season 2
|Founders||Priyank Jain and Uttam Kumar|
|Ask||₹75 lakhs for 6% equity|
SoupX, a Soup Founders
Priyank Jain and Uttam Kumar are the founders of the company. Uttam is 24 years old and Priyanka is 25 years old. Uttam has completed his engineering from IIIT and did a summer exchange in entrepreneurship from ISB Hyderabad. He currently handles technology and operations at SoupX. Priyank has completed MBA from Indian Institute of Foreign Trade. Prior to that, he worked with Deloitte and then in a leading global Bank in the treasury department. Priyank And Uttam featured in Shark tank Indian Season 2.
About the Company SoupX, a soup
Due to the pandemic, people realized that they need to change their lifestyles. People follow an expensive diet and join classes. To solve this problem, they came up with SoupX. Su pics is India’s first personalized so-based meal brand. They make healthy soups to replace meals depending on fitness goals. The company provides freshly prepared calorie counted and no artificial preservative soups which are carefully curated and planned by their chef and nutritionist. After 5 months of market testing, the company started in December 2021 and now they have more than 99 varieties of healthy soups available. The customers can get on-demand or buy a subscription also. Their vision is to make SoupX India’s number one healthy soup-based meal brand. They found that changing dietary lifestyles can be expensive and there is no established healthy soup brand in the market. So their objective was to make healthy means less expensive. SoupX combination of soup with a healthy side that curated a complete meal replacement plan. They have around 14 bases for soup and only the head chef knows which composition to make the mix of soup. The shelf life of a DIY kit is 6 months for B2B node supply only. Keeping the suit in the center they have small-sized healthy meals such as garlic bread, veggie bowls, or whole wheat sandwiches.
Ask by the Pitchers
They made in ask of ₹75 lakhs for 6% equity in the company at a valuation of 12.5 crores.
Other information about the company- In August 22 they had sales of 8 lahks in July they had sales of 7 lahks in June they had sales of 6 lakhs the gross margin is 45%. The monthly burn is 1 to 1.5 lakhs which is spent on the salary of chefs, advertisements, and the rest on raw materials. Out of total sales 85% comes from swiggy and Zomato and rest 15% comes from subscription and co-branding.
Offers and Counter Offers
Aman, Namita, Peyush, and Anupam stepped out of the deal. Vineeta gave an offer of 50 lakhs for 20% equity of the company and 25 lakhs debt at 12% interest rate.
The founders give a counteroffer of 50 lakhs at 18% equity of the company. Along with debt
SoupX, a soup Final Deal
The final deal was closed with Vineeta at 50 lakhs for 18% equity and 25 lakhs debt at 12% interest.