- Founder: Agam Choudhary & Shaksham Jain
- Business: Plants
- Ask: ₹80 Lakhs for 1% Equity
- Valuation/ Networth: ₹100 Crores
- Funding: No Deal
- Sharks: No Deal
- Episode: Season 4 Episode 9
Kyari Shark Tank India Pitch:
Kyari is an Indian startup which appeared on episode 9 of Shark Tank India Season 4. They were part of a special match-off versus Nurturing Green. The business was started in 2022. The founder’s vision is to make Kyari part of everyone’s home decor journey. The founders sought an investment of ₹80 Lakhs for 0.8% equity in the company, valuing the business at ₹100 Crores as well.
Kyari’s product range include over 150 plants, self watering plants, organic fertilizers & innovative range of plant care products. Their unique proposition is that their plants would only need watering once a week. Kyari sells their products through their own website and different marketplaces.
Kyari ships over 2000 plants per day and the founders credited their strong supply chain for these numbers. The company has had over 5 Lakh customers in the past 2.5 years. The founders shared that they are taking advantage of a lack of organization and quality.
Kyari is also solving problems of over-watering and under-watering by introducing self-watering plants. Their tech is specifically designed to provide the correct amount of water to the soil. The space between the inner pot and the outer pot can hold water for a week. Their first product was a self-watering plant with Jade plants.
Kyari has just launched a new product called Hydrate in august, which is a water meter you need to insert in the plant. After 15-20 mins, it will give out an information if the plant needs water or not by changing colour. Their other main product is a plant watering globe which transforms any planter into a self-watering planter. This product was also launched in August.
Kyari’s Financials & Revenue during Shark Tank India:
90% of Kyari’s revenue comes from the poetic series which was their very first release. The brand made a revenue of ₹2.63 Crores in October 2024. For FY 24-25, The brand has done a revenue of ₹10.5 Crores by October 2024. They closed their last year at ₹9.54 Crores and ₹1.75 Crores in FY23-24. The company is projecting to close FY24-25 with a revenue of ₹23 Crores with ARR of ₹45 Crores.
Kyari is burning money at the moment. They have burned ₹1.25 Crores in FY22-23, ₹2.17 Crores in FY23-24 and so far this year, They have burned ₹1.35 Crores as of October 2024. This year, on their projected revenue of ₹23 Crores, The company would make a net loss of around ₹2 Crores.
The company raised their first round of funding in April 2022 from friends and family at a valuation of ₹40 Crores. Kyari raised ₹2 Crores in that round. The next round was completed in October 2023 where they raised ₹5.4 Crores at ₹50 Crore valuation. Some funds were also raised in March 2024 at ₹40 Crores valuation.
Agam owns 40% equity in the company, and Shaksham has 37%, They have an ESOP pool of 7% & 16% is with investors. The company had ₹33 lakhs in their account at the time of their pitch. The founders added that they have money which is in receivables through amazon. Their payment cycle is 45 days. Those are worth about ₹2.09 Crores and they got another ₹2 Crores in working capital.
60% of Kyari’s revenue comes from their own website, 30% comes from Amazon & 10% comes from corporate business. They have utalized ₹30 Lakhs of their Cash Credit limit out of ₹1.6 Crores and payables of ₹1.7 Crores. They also had inventory in stock worth of about ₹1.45 Crores. Currently, founders are in discussion to raise ₹25 Crores at a valuation of ₹150 Crores.
For unit economics, COGS comes to 30% leaving them with a gross margin of 70%. 2% goes to platform and shipping takes 13.5% leaving them with CM2 of 55%. The company spend 45% of their revenue on marketing. This leaves them with CM2 of 9%. Salaries take another 13%, other expanses like rents take 8%. After all the expenses, the company is -11.5% in EBITDA.
Kyari Shark Tank India Negotiations & Funding:
Vineeta went out because she felt like the founders are risking their employee’s salaries and spending on marketing so she went out due to that reason. Anupam went out due to not believing that this would sustain long term. Namita went out due to lack of clarity.
Peyush was the first shark to make an offer because he liked founder’s ambition and he thought he can help them with long term vision. He along with Kunal offered ₹4 Crores in exchange for 10% equity in the company valuing the business at ₹40 Crores. Kunal would take majority of the stake with his ₹3 Crore for 7.5% equity.
Agam & Shaksham takes a moment to think and come back to counter at ₹1.6 Crore in exchange for 2% equity valuing the business at ₹80 Crores. Kunal offered ₹45 Crore valuation for 8.88% equity which the and the founder’s countered at ₹60 Crores which the sharks rejected and Kyari left the tank without a deal.
Who are the founders of Kyari?
Agam Choudhary & Shaksham Jain founded Kyari. They are from Indore. They are siblings and were born and brought up in the small town of Sagar in Madya Pradesh. Agam has done a B-tech and opened his first startup in May 2018, where they sold electronic parts.
How is Kyari doing after Shark Tank India?
Our research in the Kyari revealed that while they did not get a deal on Shark Tank India. Their appearance on the show had a positive impact on the business. Currently they are experiencing the Shark Tank India effect, you can also check out their products by clicking the Amazon button below!
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