What Happened to Ravel After Shark Tank India?
What is Ravel?
All our hair is different. Some of us have curly hair, some of us have straight. Some of us have rough hair, some of us have oily. While cleaning your hair, have you ever thought of this?
We are using the same shampoo every day despite the hair differences. It’s high time we get personalized hair care products that are made especially for us. To solve this problem, Ravel was born.
To get your customized shampoo, all you need to do is go to the Ravel website. Fill out a form, and voila. You’ll get your own custom shampoo, made just for you. In the shampoo bottle, you can have your name written if you want.
Till now, 2 lakh people have ordered their customized products from the Ravel website.
Who is the Founder of Ravel?
Ayush Mahesh Varma is the founder of Ravel. He did R&D for 2 years, starting in 2018. Later in 2021, he launched the company. Ayush hasn’t raised any funds for the company yet. This is a bootstrapped company.
Ayush is a computer science engineer. He’s from Maharashtra.
How much money did he ask for Ravel?
He came to Shark Tank India seeking ₹75 Lakhs for 2.5% equity in the company. Which gives the company a valuation of ₹30 Crores.
The current ARR is ₹5 Crores. Last month’s sale was ₹40 Lakhs. The marketing expense per month is ₹10 Lakhs. The repeat rate is 20% month on month.
Currently, they are only selling on their website. But in the future, they are planning to go live on different marketplaces. Currently, net profit per month is ₹5.5 Lakhs.
What are the Monthly Sales of Ravel?
| Month | Sales |
| April | ₹15 Lakhs |
| May | ₹25 Lakhs |
| June | ₹32 Lakhs |
| July | ₹40 Lakhs |
Which shark gave Ravel an offer?
Aman Gupta was out, but he suggested Ayush should research more on his industry. Aman thought Ayush could learn more from other similar entrepreneurs in his field. So that he doesn’t make the same mistakes others made.
Namita Thapar was out because she previously invested in a haircare, and skincare brand and she didn’t want to invest in this company as it would be a conflict of interest.
Vineeta Singh was out because she thought there’d be issues with keeping the SKUs constraint. Because if you think about it, one can make 20 ~ 30 SKUs only on oily hair. So to scale the business, this becomes a big problem. That’s why Vineeta was out.
Peyush Bansal was out because he thought the branding and packaging weren’t impressive enough yet.
Anupam Mittal was interested in the business. He offered ₹75 Lakhs for 10% equity in the company. But the offer comes with a condition. Ravel needs to have ₹7.5 Lakhs monthly profit in 2 months. Also, this gives the company a valuation of ₹7.5 Crores.
| Offer 1 |
| Anupam Mittal – ₹75 Lakhs for 10% |
Ayush gave 2 counteroffers.
- ₹75 Lakhs for 3.5% but Anupam didn’t accept that.
- ₹75 Lakhs for 7.5% but Anupam didn’t accept that either.
| Company Name | Ravel |
| Founder | Ayush Mahesh Varma |
| Asked Amount | ₹75 Lakhs for 2.5% |
| Final Deal | ₹75 Lakhs for 10% |
| Shark | Anupam Mittal |
| Company Net Worth | ₹7.5 Crores |
| Company Website | www.ravelcare.com |
| Company Status | In Business |
What deal did Ravel get in Shark Tank India?
Anupam stuck to his offer, and it was the only offer on the table. Ayush thought for a while and he took the deal.
