What Happened to Skippi Ice Pops After Shark Tank India?

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What is Skippi Ice Pops?

In childhood, we used to enjoy ice pops after school. But as bad as it sounds, there’s no major ice pop brand in India right now. That’s why Ravi Kabra & Anuja Kabra founded Skippi Ice Pops to fill this void. They are husband and wife and from Hyderabad.

Who is the Founder of Skippi Ice Pops?

Ravi Kabra & Anuja Kabra are the founders of Skippi Ice Pops.

Ravi Kabra has been working in the food & beverage industry for the last 16 years. He worked in Australia. He came back to India after hearing about his father’s medical condition. During his stay in India, he researched Ice Pops and decided to build a brand on it.

They dream really big. They wanted the Indian Cricket team to carry their brand on their jersey.

How much money did they invest for Skippi Ice Pops?

After he built the manufacturing unit of Skippi Ice Pops, his father passed away. He now wants to build this a global brand. They invested ₹55 Lakhs of their own money in the business.

They use 100% natural colors, natural flavors, natural preservatives, and natural sweeteners to produce Skippi Ice Pops.

It’s really hard to maintain the supply chain of frozen products. That’s why Skippi Ice Pops founders have completely removed the frozen part of their business.

They produce Skippi Ice Pops at room temperature. They supply them also at room temperature. Meaning, the Ice Pops remain in liquid form. Once people buy Skippi Ice Pops they can store that in their refrigerator and enjoy them once it’s frozen.

That’s how they don’t face the freezing issue while transporting the Skippi Ice Pops. The soft ice that’s required to make this possible is their patented technology. So, it can’t be easily replicated by other companies.

How much money did they ask for Skippi Ice Pops?

They came to Shark Tank India seeking ₹45 Lakhs for 5% of the company. Which gives the company a valuation of ₹9 Crores.

All the sharks enjoyed Skippi Ice Pops & they really loved it.

The target customer for Skippi Ice Pops is mainly kids. But beyond that, Ravi & Anuja wanted to target adults aged 25+. Because these Ice Pops will make them nostalgic about their childhood and they’ll surely want to try this. Once they enjoy this, they will take this to their home as well and introduce it to their kids. And once kids start having it, there’s no going back.

In the last 6 months, they did ₹40 Lakhs sale. Last month they did ₹7.5 Lakhs sale.

Unit Economics of Skippi Ice Pops

Per Packet₹20
Making cost₹5
Distributor margin₹7
Gross Margin₹8

Unit Economics

Which shark gave Skippi Ice Pops an offer?

Anupam Mittal gave the first offer. He offered them the exact thing they asked for. He offered ₹45 Lakhs for 5% of the company.

Ashneer Grover & Namita Thapar gave the 2nd offer. They offered ₹60 Lakhs for 5% equity.

Aman Gupta, Vineeta Singh & Anupam Mittal gave the 3rd offer. They offered ₹60 Lakhs for 6% equity.

All the sharks gave 4th offer. The offer is ₹1 Crore for 15% of the company. That way each shark will get 3% in the company. Which gives the company a valuation of ₹6.66 Crores.

Offer 1Offer 2Offer 3Offer 4
Anupam Mittal – ₹45 Lakhs for 5%Ashneer Grover & Namita Thapar – ₹60 Lakhs for 5%Aman Gupta, Vineeta Singh & Anupam Mittal – ₹60 Lakhs for 6%All Sharks – ₹1 Crore for 15%

The founders gave a counteroffer of ₹1 Crore for 10 ~ 12%. But the sharks didn’t agree on that.

Company NameSkippi Ice Pops
FounderRavi Kabra & Anuja Kabra
Asked Amount₹45 Lakhs for 5%
Final Deal₹1 Crore for 15%
SharksAman Gupta, Vineeta Singh, Anupam Mittal, Ashneer Grover & Namita Thapar
Company Net Worth₹6.66 Crores
Company Websiteskippi.in
Company StatusIn Business

What deal did Skippi Ice Pops get in Shark Tank India?

The deal closed on ₹1 Crore for 15%.

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