- Founders: Aditi Minda & Ashwani Gadia
- Business: Jewelry
- Ask: ₹80 Lakhs for 7% Equity
- Valuation/ Networth: ₹11.43 Crores
- Funding: No Deal
- Sharks: No Deal
- Episode: Season 1 Episode 32
Thea and Sid Shark Tank India Pitch:
Thea and Sid is an Indian Startup which appeared on Shark Tank India Season 1 Episode 32. The company provide complete proposal solutions. The founders sought an investment of ₹80 Lakhs for 7% equity valuing the business at ₹11.43 Crores.
Thea and Sid provides 925 sterling silver & 6A grade cubic zirconia rings which come with ring sizer and after-sales service. They also offer dating and proposal advice.
Thea and Sid founders started another brand in the name of Adastra Jewelry Private Limited 5 years ago which is very successful. The founders shared that their vision for opening this brand was to create jewelry-buying experience young and more vibrant.
Thea and Sid was just incorporated 5 months before their pitch. They have priced their rings from ₹1,500 to ₹6,500. Its costs a company ₹350-₹850 to produce one rings leaving them with a gross margin of 75-90%. The founders shared that they make a net margin after all expanses of around 30%.
Thea and Sid had a monthly revenue of around ₹1.3 Lakhs at the time of their pitch. The founders added that their consumer base is mainly 18-24 years old who does not have jobs yet but want to propose.
Thea and Sid Shark Tank Negotiations & Funding:
Anupam was the first shark to go out but he suggested the entrepreneurs to focus on jewelry as a segment. Ashneer felt like this was a half-baked attempt at this business therefore he went out. Namita felt like the founders needed to focus on their value proposition therefore she went out. Peyush went out because he couldn’t add value. Aman went out because he just wasn’t feeling it.
Who are the founders of Thea and Sid?
Aditi Minda & Ashwani Gadia founded Thea and Sid. Aditi is 36 years old and Ashwani is 40 years old. They both have a family background in diamonds.
How is Thea and Sid doing after Shark Tank India?
Our research in the Thea and Sid revealed that the company did well for a little while after their appearance on Shark Tank India but they went out of business in 2023. As of July 2024, Their website is still live but you are unable to purchase/checkout any products from there. Their socials also went dark in 2023. We will keep a close eye if anything changes.
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Here are other companies from Season 1 Episode 32.