- Founder: Rohan Khanduja
- Business: Outdoor Brand
- Ask: ₹1 Crore for 1% Equity
- Valuation/ Networth: ₹100 Crores
- Funding: ₹75 Lakhs for 1.15% Equity & ₹25 Lakhs at 9% Interest for 5 Years
- Sharks: Ritesh Aggarwal
- Episode: Season 4 Episode 6
Tripole Shark Tank India Pitch:
Tripole is an Indian startup which appeared on Shark Tank India Season 4 Episode 6. The founder shared that the company is focused on three pillars, Utility, Durability & Affordability. The founder’s vision is to make Tripole a one-stop shop for all outdoor enthusiasts. He sought an investment of ₹1 Crore for 1% equity in the company valuing the business at ₹100 Crores.
Tripole’s hero product is their Walker Pro metal frame Rucksack. This product comes with extra points to access handy items, it also has space to add accessories and comes with a hydration bladder. This is made with an internal frame system for back support. Not only that, it comes with 5 year warranty and is in the affordable category.
Tripole was started in 2017 from a small room and has since expanded to two factories. Their product line includes Rucksack, Apparel, Sleeping bags, Travel accessories & Backpacks. The company manufactures everything in house.
Rucksacks made 100% of their revenue in the first two years for Tripole but the founder added that now it makes about 70% of total revenue. The company had 250 SKUs at the time of their pitch. 20% of their sales come from international markets and the rest comes from India. For India’s revenue, 68% of revenue came from marketplaces and rest from offline sales.
Tripole’ Revenue & Funding during Shark Tank India:
The company closed their last financial year with a revenue of ₹14.2 Crores. They made ₹11 Crores a month prior. As for the last three months, Tripole has been averaging ₹1.6 Crores each month. The founder shared that they are projecting to close FY24-25 with a revenue of ₹20 Crores.
Tripole’s average order value is at ₹1,525, and for unit economics, 53% of the revenue goes to COGS, giving them a gross margin of 47%. 29% goes to marketplace commissions & fees. Advertisement takes another 9%, and 3% goes to overhead, leaving them 6% EBITDA. The company was completely bootstrapped.
The company has an overdraft limit of ₹1 Crore which they use periodically depending upon business needs. The founder started this business with ₹15 Lakhs of initial investment. The company also have a big price advantage over legacy brands like Decathlon which has most of the market share in this category.
Tripole Shark Tank India Negotiations & Funding:
Namita was the first shark to give out an offer. She added that she would give an option to entrepreneurs to either get ₹50 Lakhs for 1% equity and the rest as a debt at 9% interest for 3 years Or ₹1 Crore for 1.5% equity but with 1% royalties until she makes her investment back. Aman went out due to high valuation of the company.
Anupam went out due to a lack of differentiator in the products. Ritesh offered ₹60 Lakhs for 1% with ₹40 Lakhs debt for 5 years at 9%. Kunal loved the entrepreneur therefore he offered ₹3 Crores in exchange for 7.5% equity in the company valuing the brand at ₹40 Crore valuation.
Rohan takes a moment to think and comes back to counter Kunal at ₹3 Crores for 4% equity. He also countered other sharks at ₹75 Crore valuation. Kunal refused that counter and added that he would stick at his offer. Ritesh changed his offer to ₹75 Lakhs for 1.15% equity and the rest as debt at 9% Interest. Namita matched Ritesh’s offer. The founder accepted Ritesh’s offer and they shook hands on ₹65.22 Crore valuation.
Who is the founder of Tripole?
Rohan Khanduja founded Tripole. He did his engineering from BITS Pilani, KK Birla Goa Campus. He is also a charted financial analyst and worked in the investment banking sector for JP Morgan.
How is Tripole doing after Shark Tank India?
Our research in the Tripole revealed that while they did get a deal on Shark Tank India, whether that deal closed after the show is still unclear. we will update this article once more information comes to light but in the meantime, you can check out their products by clicking the Amazon button below!
Thank you for supporting the blog, as we make small commissions on purchases through the above link.
Do you know, which Shark Tank India companies are already out of business after their appearance on the Show? click the button below to find out!