This Shark Tank India pitch will be all about cocktails. From the very start of the episode, a bartender started making a cocktail. Mixing different ingredients and with different tactics. It was a really eye-opening experience.
At the same time, we realized making a cocktail is very tough for any ordinary person. So to tackle this problem, In A Can company was formed.
This was only available in Goa & UP prior to the pitch. They are manufacturing in GOA. They came to Shark Tank to make this a global brand. In A Can was featured on Drink Magazine Asia‘s website. So, that played a big role in boosting confidence.
Sameer Mirajkar & Viraj Sawant are the 2 founders of In A Can. They are from Pune. This is basically a ready-to-drink cocktail product. With In A Can, you don’t need any bartender or those 10 crazy skills to make an amazing cocktail. Just chill the can and drink the cocktail. It’s as simple as that.
Currently, they have 5 products. Liit, Gin & Tonic, Whiskey Collins, Vodka Mule & Rum Latte. To keep the taste consistent, they maintain a standard recipe to create all these cocktails. Also, they come with 9 months shelf life.
Sameer & Viraj came to Shark Tank India asking for ₹50 Lakhs in exchange for 2% of the company. Which gives the company a valuation of ₹25 Crores.
If you love parties (or just want to enjoy yourself) In A Can is the perfect solution for you.
Sameer & Viraj both had previous experience in hotel management. He also did courses on Wine and worked in the Wine industry for 6 years.
So, the idea is not new. In the USA and UK, this cocktail in a can has been a thing for a long time. It’s pretty popular out there as well. But in India, no one was doing it. Sameer and Vijay saw an opportunity here and wanted to start it first and take the 1st mover advantage.
The sharks liked the packaging of the product very much. They admired the design. They were hopeful that this could become a big brand one day. Sales of In A Can was ₹60 Lakhs in 3 months.
They have raised some capital from friends and family. So the current equity split looks like friends & family 11%, Sameer 44.5% and Vijay 44.5%. They raised ₹1.1 Crores.
|Friends & Family||11%|
All 5 sharks were interested in this product. So, the offer was ₹1 Crore for 10% of the company. Which gives the company a valuation of ₹10 Crores.
All 5 sharks (Ashneer Grover, Aman Gupta, Namita Thapar, Anupam Mittal & Peyush Bansal) wanted a piece of pie in In A Can. And getting all 5 sharks on board means having great validation.
|Ashneer Grover, Aman Gupta, Namita Thapar, Anupam Mittal & Peyush Bansal – ₹1 Crore for 10%|
The founders didn’t take much time before saying Yes. They didn’t give any counteroffer. I thought they would give one counteroffer, but they didn’t.
It’s not every day we get to see a 5 Sharks deal. This was one. And hopefully, in the near future, we’ll see more all-shark deals like this.
|Company Name||In A Can|
|Founder||Sameer Mirajkar & Viraj Sawant|
|Asked Amount||₹50 Lakhs for 2%|
|Final Deal||₹1 Crore for 10%|
|Sharks||Ashneer Grover, Aman Gupta, Namita Thapar, Anupam Mittal & Peyush Bansal|
|Current Net Worth||₹10 Crores|
|Company Status||In Business|