What Happened to Nuvedo After Shark Tank India?

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What is Nuvedo?

Nuvedo is a mushroom brand that offers 100% organic mushrooms. These mushrooms are chemical-free. 

It’s the only platform in India that produces mushrooms & they use that same mushroom to make different products and supplements.

Nuvedo has a total of 6 SKUs of mushroom growing kits. Using this kit, you can produce Golden Oyster Mushrooms which you won’t find in the market as it has a very low shelf life.

What is the health benefit of mushrooms? You may ask. 

Well, it offers a high nutritional value. Cordyceps mushroom tinctures can increase one’s physical endurance and stamina.

Nuvedo extracts all the beneficial materials from these mushrooms. They use a patent-pending process to do so. They are the only company in India that has this technology.  

Who is the Founder of Nuvedo?

Jashid Hameed & Prithvi Kini are the founders of Nuvedo. They met together in a dating application. Jashid previously worked at a fast fashion brand and Prithvi worked at a startup.

Mushroom market in India

The total market size for culinary mushrooms is ₹257 Crores in India. The market size for functional mushrooms is ₹7500 Crores.

Nuvedo Before Shark Tank India?

Nuvedo is a two-year-old company.

How much money did they ask for on the pitch?

They came to Shark Tank India seeking ₹50 Lakhs for 3% equity in their company Nuvedo. Which gives the company a valuation of ₹16.67 Crores.  

How to get Nuvedo?

You can order Nuvedo products from their main website. You can find them in different retail stores also.

How to grow mushrooms using a growing kit?

  1. In the growing kit, you can see a perforated section. Just simply press that and it will come off.
  2. Use a knife to put an X sign, that way it will come in contact with outside temperature and oxygen.
  3. You need to spray Mycelium 10 to 15 times with drinking water. This drinking water will be provided in a spraying bottle.
  4. Then mushroom will grow from the box within 3 days.

What are the Annual Sales of Nuvedo?

Fiscal YearAnnual Sales
2022 – 2023₹25 Lakhs
2023 – 2024₹50 Lakhs Projected

Which shark gave Nuvedo an offer?

Aman Gupta was out. He thought there was no market for this product.

Vineeta Singh was out. She thought the business wasn’t investable yet.

Ritesh Agarwal was out. He didn’t find enough clarity in the business.

Peyush Bansal was out. He thought the category was interesting. He didn’t give any offers because he thought the founders were still figuring out how to run this business.

Radhika Gupta was out. She thought the TAM was too small for this industry.

What deal did Nuvedo get in Shark Tank India?

Nuvedo didn’t get any deal in Shark Tank India.

Company Name Nuvedo
Founders Jashid Hameed & Prithvi Kini
Asked Amount ₹50 Lakhs for 3%
Final Deal No Deal
Shark No Shark
Company Net Worth ₹16.67 Crores
Company Website nuvedo.com
Company Status In Business

What is the net worth of Nuvedo?

The net worth of Nuvedo is ₹16.67 Crores.

Is Nuvedo still in Business?

Yes, Nuvedo is still in the mushroom business.

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