Startups Shark Tank India

Canebot “How This Amazing Sugarcane Startup got 40 Crores Valuation?” | Shark Tank India

canebot machine | canebot shark tank | canebot franchise | canebot online

Canebot is a Fresh Sugarcane Juice Startup that also got featured in Shark Tank India. This article tells you about canebot net worth, canebot founders, canebot machine, canebot shark tank, canebot franchise, and canebot online. 

CategoryBeverage (Fresh Sugarcane Juices)
FoundersKirti Datar and Milin Datar
Founded in2012
Net Worth2 Crores
Valuation40 Crores
Funding AskedRs 1 Crore for 2.5% Equity
CANEBOT Insights

You can have a glimpse at the table of contents to have a better understanding of the article.

Introduction to Canebot

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Kirty Datar and Milin Datar are the founders of Caneboat. They belong to Pune. When we look at Coffee and see that for one cup of coffee Many International Brands have emerged as Best Coffee Makers. This is how they started their startup Canebot. Where they sold 28 Lakh+ Fresh Sugarcane Juice Glasses and then the pandemic happened and their business got completely shut down. 

They realized that relying on the offline sector completely is not a good choice, and then they thought if their customer cannot visit their outlet then they should make their juices to reach customers’ homes. With This Idea, they made some traditional combinations based on Sugarcane in form of Packages and they have a shelf life of 1 Year. Their juices are without any preservatives.

Caneboat Success Story | Shark Tank India

You will be amazed to know that both Co-Founders of Caneboat are real-life couples. They have been working in the same IT firm for over 13 Years before starting Caneboat. After marriage, they continued the job for some more time.

One day both of them were having sugarcane juice roadside when they observed a few youngsters coming out of the coffee shop when they were taking selfies then ensured that the Logo of that cafe is visible in the pic. From here Kirty thought why do people never take pics with Sugarcane stalls? 

They started with research and after one complete year, they quit their job at the same time. In 2012 Kirty and Milin Started with Caneboat. 

Canebot Working Process 

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Preserving Sugar Cane Juices 

In the last 10 years, they are handling 100-1500 Kg of Sugarcane and from this, they have understood the whole process of harvesting, cultivation, storage, and temperate conditions they have to maintain for storage of Sugarcane.

Sugarcane requires refrigeration of -18 Degrees Celcius and a chain of 12 Months.

Distribution Network of Caneboat 

Cold Chain Distribution is a challenge for caneboat but they regard this as a better challenge than others. they have also given examples of how they can increase the shelf life of their product by adding extra preservatives, which they do not want to do.

With the use of HTP Technology, which is very expensive they can get a shelf life of 21 Days.

Extra Sweetness in Caneboat?

Namita Thapar after drinking their juice found it extra sweet and also questioned the team for the same, To which the team replied. 

When we chill the product at a great low temperature then the sweetness of the product automatically gets enhanced.

Work-Life Balance of Caneboat Team

Before starting the business, They were working as employees which made their vibe match. After the marriage, it became more insightful.

Giving Live Demo in Shark Tank India

When Sharks asked the team to give them a live demo at that time their machine stopped working which left a bad impression on the sharks and also founders faced embarrassment. However, Namita said that team got an idea of the machine and they should continue their pitch.

Caneboat Business Aim

Caneboat Team aims to do a 3 Vertical Business which includes:

  1. Outlet Vertical
  2. Packaged Drinks
  3. Vending Machine

Revenue of Caneboat

When 9 Years old they started their business, It was an outlet model in which they were having 15 Outlets in IT Parks all across India. 

The revenue of Caneboat Pre Pandemic was 2 Crores (FY19-20) and 18 Lakhs Monthly.

The lifetime Revenue of the all-new Caneboat is 15 Lakhs and in November 2021 they made a business of 30 Thousand.

Pricing of Caneboat Products

  • They sell their bottles for 70Rs.
  • Cost Price of the same bottle is 20Rs 

The Sugarcane robot by Caneboat

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If you ever want to drink fresh sugarcane juice then Canebot is here with “THE SUGARCANE ROBOT”. This is an automatic machine which can serve you fresh sugarcane juice only with one command of yours. This has huge potential to disrupt the entire fresh juice Industry. Caneboat is having one aim of providing Fresh, and Hygenic Sugarcane juice to everyone.

This Sugarcane Robot is a prototype presently, and after doing the Productisation of this. They will get a cost price of Rs 6 Lakhs Per Machine and they will sell this machine for Rs 10 Lakhs.

Functioning of Sugarcane Robot

The Sugarcane Robot is completely automatic, they have installed a 7 Inch Tablet in this from which we will be able to control the machine. It is having their own UI. Consumers will be able to select the flavor of Juice and the number of glasses they want.

Real Sugarcane Sticks are kept in a machine.

Patent of Canebot Machine

You will be glad to know that this is completely made in India Machine and Caneboat is having a patent for the same. They have designed from scratch.

Funding asked by Caneboat from Shark Tank India | Funding & Valuation

This Sugarcane startup having a strong vision is inviting funding of Rs 1 Crore by offering equity of 2.5% and this makes the valuation of Caneboat reach 40 Crores. 

Sharks Investing in Caneboat | Shark Tank India

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Ghazal Alagh

Ghazal appreciated the team for their business thinking and also pointed them out for doing many things at the same time since Machine Business, Immunity Boosters, and Packaged Drinks are completely different. There is a lot more work needed on research before pitching to investors and that’s why Ghazal got out of this pitch.

Peyush Bansal

Peyush thinks that this is too early for investment. They should focus on one thing and scale it, Today he is out.

Anupam Mittal

Anupam feels that this beverage industry has a big cemetery. 70rs for one bottle is very expensive for a normal person, and they should reduce the pricing or focus on the caneboat business. He doesn’t think that this business is investIBLE and for that reason, he got out of the pitch.

Vineeta Singh

Vineeta also agreed with other sharks, the product market is not fit and they should focus on Caneboat.

Namita Thapar

Namita says that she feels proud when someone from Pune does such hard work and develops amazing businesses. She is out because she is unable to relate to the product personally.

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Tagz Chips | Healthy Chips Startup Featured in Shark Tank India | Founders, Net Worth, Investors, & Funding
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This was one of the most amazing pitches of Shark Tank and You will be amazed to know that this pitch was not aired on Sony Channel. This is only available on Sony Liv App.