• Founder: Surabhi Shah and Chetna Shah
• Business: Eco-Friendly Products
• Ask: ₹50 lakhs for 10% equity
• Valuation/Net worth: ₹5 Crores
• Funding:₹50 lakhs for 20% equity
• Sharks: Anupam Mittal & Peyush Bansal
• Episode: Season 1 Episode 13

Carragreen Shark Tank India Pitch:

Caragreen, an eco-friendly startup founded by Surabhi Shah and Chetna Shah, produces biodegradable stationery and packaging solutions using agricultural waste. Featured in Episode 12 of Shark Tank India Season 1, they presented Carrabox, a travel box made from corn husk and wheat straw. They are focusing on a Reuse, Reduce, and Recycle model through this invention. Products are made from Food Grade Board. Their vision is to use Caragreen for every food delivery.

They started this company with a grant of ₹7-8 lakh given to them by IIM Bangalore. The box costs ₹11.5 and sells for 15 rupees. Haldiram and Balaji are their top customers. They sell around 4-5 lakh products a month, which in value turns out to be around ₹80-90 thousand. The box is still a sample, and they are only selling spoons. The company has a design patent on the products.

Carragreen Shark Tank India Negotiations:

Ashneer liked the concept but couldn’t see scalability in the business, so he exited the negotiations. Namita wasn’t confident and comfortable with the product and said she couldn’t relate to the product, so she went out. Aman follows her lead and says he cannot add value, so he goes out as well.

Anupam was interested in the business and offered ₹50 lakh for 25% of the company. Peyush asks if he can join Anupam in that offer, which Anupam accepts. Founders take a moment to think and counters at 12%. Sharks counter that with 20% of the company for ₹50 lakh. The company accepts that offer after discussing it among themselves.

Who are the Caragreen founders?

Caragreen was founded by Surabhi, who is an engineer by profession. She worked in her family business for two years as an intern and helped set up a printing unit. That’s where she got the idea when she noticed the wastage of cardboard being thrown out. She was also selected in IIM Bangalore as one of the top 100 women entrepreneurs.

How is Carragreen doing after Shark Tank India?

Our research into the company revealed that their Shark Tank India deal with Anupam and Peyush did close after the show aired, and the company thrived after that. They have expanded their lineup from just spoons to other products like pencils and gift hampers. While the numbers of the company are not available publicly as of November 2023, they are still in business and have a wide variety of products available through their website. We will update this article as soon as more information comes to light.

You can check Carragreen Products by clicking the Amazon button below!

Source: Carragreen Instagram