Gladful Shark Tank India Pitch:
Gladful is India’s first family-friendly protein brand. Their product line includes Protein Cookies, Protein Breakfast Mixes, Dessert Bites, and more. Parul shared that 73% of Indians are protein deficient; therefore, India needs a brand like Gladful. Gladful’s products have 4-6 grams of protein per serving. Manu added that their products are approved by a community of 350 mothers before launching to the public. They have sold 60,000 units since their inception 9 months ago in January 2022. Further, Gladful products are available on their own website and other marketplaces. Finally,The company sought an investment of ₹50 Lakhs for 2% Equity, asking for a ₹25 Crore valuation.
Gladful founders shared that their one serve has two cookies which give a total of 4 grams of protein. Their 10-pack cookie box comes with an MRP of ₹150. Their lifetime net sales in the last 9 months were at ₹1 crore, with last month’s revenue clocking at ₹20 Lakhs. Further, Gladful’s projection for this month was at ₹24 Lakhs. Moreover, The founders added that 90% of their sales come from online, and the rest comes from offline. Also, Amazon brings the biggest chunk of their business, with about 45% of revenue coming from that channel. Their gross margin is at 50%, and after marketing and logistic expenses, they were burning about ₹8 lakhs per month.
Gladful has already raised one round where they raised ₹2 Crores at ₹13 Crores. Parul’s vision is to make this number 1 food brand in the protein category in India, therefore she is working on building a ₹500 Crore company in the next 5 years.
Gladful Shark Tank India Negotiations & Funding:
Namita and Aman come together for the first offer of ₹50 Lakhs for 10%, giving them a valuation of ₹5 Crores, which was 2.5X their sales. Further, Peyush goes out, citing he is not the best shark for this category. Anupam gives the second offer of ₹50 Lakhs for 3.84%, matching their last round of valuation of ₹13 Crores.
Parul comments that they would build this into a ₹35 Lakh a month business in a few months; therefore, she wanted sharks to revise their offers accordingly. Amit also puts out an offer of ₹50 Lakhs for 3.5% of the company. Namita & Aman also revise their offer to ₹50 Lakhs for 4%. Anupam goes out as he only offered the company because he thought the valuation Namita & Aman offered was just insane. Parul takes a moment and asks if they would join Amit in his offer to which Sharks accepted, and they shook hands on ₹50 Lakhs for 3.5% with Namita, Aman, and Amit coming together.
Who are the founders of Gladful?
Manu Sharma & Parul Sharma, a brother-sister duo founded Gladful. They are from Jaipur. Parul has done an MBA and worked at Cadbury for 15 years where she launched multiple products as a Brand Manager. Manu is a chartered accountant.
How is Gladful doing after Shark Tank India?
Our research in Gladful revealed that their Shark Tank India deal with Sharks was finalized and closed after the show aired. Even within a few months after their pitch was recorded, The company shared that they had mentoring sessions with Amit Jain and Aman Gupta.
After their episode aired, Manu appeared on TheDiviShow by Divisha where he shared that the monthly average business quadrupled in just 3-4 days after their appearance on the show. He also added that they were overwhelmed with the number of orders they got, and his friends and family came by to help them fulfill them.
Source: Instagram @be.gladful
Here are other companies from Season 2 Episode 39.
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