Zoff Masala Shark Tank
|Founders||Aakash Kumar Agrawal and Ashish Agarwal|
|Ask||₹1 crore for 0.5% equity|
Aakash Kumar Agrawal and Ashish Agarwal are the founders of Zoff. Both of them come from Raipur, Chhattisgarh. Aakash looks after the online sales and Finance part of the company whereas Ashish looks after offline sales and plant-related work. But marketing is handled by both of them.
About the company Zoff
We Indians always want masala in every food. As a result, Indian Spice Market sizes ₹80000 crores, out of which 70% is an unorganized sector. These spices are the most adulterated food items. Adulterated items such as chemicals, brick powder, and cow dunk straw are mixed with spices. Zoff is here to change the face of the spice industry. Zoff comes with one of the best-centralized facilities in India, with updated technology, unique zip lock packaging l, and proper layer facility. Quality is properly maintained in the products of Zoff. To increase the brand value of their products they had made Shilpa Shetty as the brand ambassador of this product. The company started in 2018. They are available through their own website along with popular e-commerce sites such as Flipkart, Amazon, and Big basket. They are also present in 10000 offline stores and HoReCa. Their vision is to grab a place in India’s top spice brand in India and want to become the number one, online player. They made 400% online growth in just 3 years. One of the technologies used in their plant is Cool Grind Technology. Instead of using nitrogen, they grind the spices at room temperature to keep the nutrition intact. Another technology used is No Hand Touch where once raw materials are given indirectly get into a packet without being in touch. They provide Proper Roasting Facility. The plant is constructed on 3 acre land and around 200 people work there. The cost of making this plant is about ₹20 crores.
Ask by the Owner Zoff
The owners of Zoff made an ask of ₹1 crore for 0.5% equity of the company at the valuation of ₹200 crores.
Zoff Sales And Revenue
Their last month online sales were ₹4.5 crores and offline sales were ₹2.5 crores making a total of ₹7 crore revenue in last month. Total capital employed is ₹60 crores. Last month profit was around ₹80 lakhs. In FY 22 to 23 projected profit is around ₹5 crores.
Shark Tank Upthrust
Offers and counter offers
Anupam gave an offer of ₹1 crore for 2% equity of the company at the condition, ₹18 crores debt from their father will be converted into equity.
Aman gave an offer of ₹1 crore for 2% equity of the company without any condition.
Veenita gave an offer for ₹50 lacs at 0.75% equity of the company and ₹50 lacs debt.
Amit gave an offer of ₹1 crore for 1.5% equity of the company.
Owners give a counteroffer of ₹1 crore for 0.75% equity.
Aman revised his offer for ₹1 crore at 1.25% equity.
Zoff Final Deal
The final deal was closed with Aman for ₹1 crore at 1.25% equity.