- Entrepreneurs: Sahil Pruthi
- Business: Keto India
- Ask: ₹1.5 Cr Lakh for 1.25% equity
- Valuation: ₹ 120 Cr
- Result: No Deal
- Sharks: No Deal
Keto India Shark Tank Pitch:
In September 2017, Sahil had to leave his job to take care of his mother after she underwent major brain surgery. During the nine months he spent caring for her, he became deeply interested in understanding the reasons behind her surgery and how to prevent such health issues in the future. He began providing his mother with personalized nutrition, supplementation, and clinical trials, which greatly improved her health. Today, she’s healthy and by his side. Sahil’s journey led him to study health science extensively.
He soon realized that conditions like Type 2 Diabetes, PCOS, Hypothyroidism, and Obesity could be reversed with personalized nutrition and supplementation. This realization gave birth to Keto India. People input detailed information on the website, and the platform generates personalized diet plans. As they start seeing results, the platform adjusts their diet accordingly.
Keto India is a self-funded profitable company that has assisted more than 3,100 clients in 16 Indian states and 25 countries worldwide. They offer subscription plans for 1 month, 3 months, 6 months, and 1 year, priced at ₹4,500, ₹9,000, ₹15,000, and ₹25,000, respectively. There are different pricing structures for international clients, ranging from ₹6,000 for one month to ₹35,000 for a year. Year-to-date revenue has exceeded ₹2.1 crore, with last month’s earnings at ₹15 lakh. The company was founded in February 2019 and boasts 45,000 monthly active users across desktop, app, and mobile, with 200 converting to paid subscribers, resulting in a conversion rate of 0.44%.
Keto India Shark Tank Negotiations:
The first concern raised was by Anupam, who questioned the name “Keto India,” suggesting that it might disappoint those who don’t believe in the Keto diet. Sahil clarified that they also have another website named Livofy for those with different dietary preferences, addressing this issue. Namita inquired about the distinction between the two brands. Sahil explained that Keto is for people with specific health conditions like Diabetes and PCOS, while Livofy caters to others. Peyush expressed concerns about managing two brands.
Anupam questioned Sahil about the 60X valuation, to which Sahil explained that he has interest from the UK and a commitment from a high net-worth individual, supported by the company’s proven success. Anupam raised doubts about the high valuation, considering the AI-based nature of the service and low conversion rates. Sahil defended the conversion rate, stating it matched industry standards. Anupam opted out, citing the valuation mismatch.
Peyush asked about the business’s potential, with Sahil projecting ₹7 crore for the year and ₹50-52 crore in three years. When asked how to reach ₹200 crore in three years, Sahil emphasized their careful approach, but Peyush advised against being overly cautious. He suggested that the sharks could help by connecting the business to other platforms.
Ashneer proposed an offer of ₹1.6 crore from four sharks for 16% equity. Sahil requested time to consider it, consulted his advisor, and returned with a counteroffer, but the sharks refused to hear it. Despite Sahil’s persistence, the sharks ultimately walked away from the deal.
Commentary: Some may argue that it was unfair for the sharks not to hear Sahil’s counteroffer, as negotiation is a standard part of the show.
What Happened to Keto India After Shark Tank:
Although Keto India did not secure a deal with the sharks, according to an article on Livofy’s site, the startup attracted investments from Ivy Growth Partners and Amity Technology Incubator. These investments helped expand its service offerings and create a more advanced user interface. Furthermore, the company garnered additional capital from various investors. Sahil decided to merge everything under one brand, Livofy, taking the advice he received during Shark Tank.
As of the latest update in July 2023, the company has served over 10,000 customers since its inception and continues to thrive, dedicated to improving people’s lives. They offer a variety of plans, which you can explore on their website www.livofy.com.
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Image source: Livofy Instagram
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