Tiggle is a Chocolate mixer brand featured in Shark Tank India 2024. This article tells you about the Tiggle Success Story, Tiggle Funding, Tiggle Valuation, Revenue, YoY Growth, Tiggle Hot Chocolate, Tiggle Review, and a lot more.
|Hot Chocolate Mixer Brand
|Rs 20 Crores
|Anuva Kakkar, Advisory Equity and her mother.
|Rs 1- 1.5 Crores
|Rs 50 Lakhs for 20% Equity
|Peyush Bansal and Amit Jain
|Shark Tank India | Season 3
Tiggle is a profitable and bootstrapped company founded by Anuva Kakkar. This company targets the hot chocolate and chocolate mixer market in India.
About the founder of Tiggle
Anuva belongs to Agra, in 2019 she completed her graduation. In Aug-Sep 2020 She started working on Tiggle and tasted Cocoa from more than 50 Farms. After the whole testing process, she launched Tiggle in September 2021 in D2C Space.
Anuva Kakkar is the founder of Tiggle, India is having a Chocolate market size of 20,000 Crores.
She started tiggle from her home with an initial investment of Rs 20,000, within 7-8 Months She setup her own manufacturing unit. Today she has reached 37000 Customers with her own website and as well as on Amazon.
About the Company- Tiggle
Tiggle got launched in 2021, where She is selling Ready to make chocolate mixes made from finely roasted Cocoa.
Tiggle name is derived from two words Tickle and Giggle.
Products: Hot Chocolate, and Iced Chocolate
In the entire global chocolate market, Chocolate drink constitutes a 15-20% share, In India, the Chocolate market is 20000 Crores. The Chocolate Drinks Market size is 2000-3000 Crores.
The Competition of Tiggle is with the companies like Cadbury and Hershey. Cadbury’s sale on Amazon is off 35-40 Crores on Amazon, in the last two years
FY23-24 Rs 1-1.4 Crores
April 23- Rs 5.9 Lakhs
May 23- Rs 6.5 Lakhs
Jun 23- Rs 8.9 Lakhs
July 23- Rs 11 Lakhs
Aug 23- Rs 12.6 Lakhs
Sep 23- Rs 12 Lakhs
- The average selling Price is Rs 308
- Average Cost Price: Rs 106
- Gross Profit: Rs 202
Going deep below after analyzing all the expenses, She is earning Rs 19 at a net profit. EBITDA is lying at 6.02%.
Customer Size: 3500 Customers on Oct 23, and Monthly repeat customer is 24-25%.
Why Tiggle over other brands?
Tiggle sent 3 samples, 2 were of tiggle and 1 was of another brand to a community where people chose only 1 out of 2 Tiggle products.
Tiggle asks for funding in Shark Tank 2024
Tiggle asked Rs 50 Lakhs for 5% Equity at the valuation of Rs 10 Crores.
Sharks review on Tiggle
Namita appreciated the founder’s strength as how she displayed the entire pitch and worked on it so great. She said that the market size of Tiggle is small so for this reason she is out.
Azhar wanted to stay out since the return of customers out of 35000 Persons was only 800 which is very low.
Amit could not identify the entire market size, but he said that his presence in Shark Tank would be incomplete if he could not help a strong founder like her so he made an offer.
Rs 20 Lakhs in Equity for 5% at the valuation of 4 Crores + Rs 30 Lakhs Debt at 15% Interest for 3 years.
Anupam was very happy for her for receiving the offer but He was out of pitch.
Peyush appreciated Anuva as an ace entrepreneur and said that his heart wanted to help her, but his paste experiences were not letting him still.
He offered Rs 50 Lakhs for 20% Equity + 2% Royalty until Rs 1 Crore is Recouped at the valuation of Rs 2.5 Crores.
He also invited Amit Jain to join the offer.
Counteroffer from Anuva
Anuva offered Rs 50 Lakhs for 15% Equity + 2% Royalty until Rs 1 Crore is Recouped.
Tiggle x Shark Tank India 2024 Deal
Since Peyush Rejected Anuva’s counteroffer, she accepted the original offer from Peyush Bansal and Amit Jain.
So the deal met at Rs 50 Lakhs for 20% Equity + 2% Royalty until Rs 1 Crore is Recouped.
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