What Happened to Teafit After Shark Tank India?
What is Teafit?
Teafit is an unsweetened beverage brand. Teafit doesn’t use any sugar in its beverages. The beverages are brewed with green tea, black tea & hand toasted barley. Teafit has the proprietary rights to 15 herbal formulations in it.
600 ML cola has 30 sachets of sugar in it. Sugar is considered white poison. It’s really not good for our health.
To solve this sugar problem, Teafit was formed. It doesn’t have any calories; it doesn’t have any sweetener.
Who is the Founder of Teafit?
Jyoti Bharadwaj is the founder of Teafit. She’s from Patna. Both of her parents were diabetic. She was very conscious of the effect of sugar on the human body from very early in her life.
Previously she worked in a startup. Her husband used to work in Google Japan. She went to Japan multiple times.
She built Teafit from scratch. While building it, she didn’t get any support from her family. She came to Shark Tank India with her two boys. How sweet!
Teafit Before Shark Tank India?
Jyoti started Teafit back in 2021. Till now Teafit has served more than 20,000+ customers.
How much did she ask for on the pitch?
She came to Shark Tank India seeking ₹50 Lakhs for 3% equity in the company. Which gives the company a valuation of ₹16.67 Crores.
How much money did she raise for Teafit?
She got her first investment of ₹10 Lakhs from her mother-in-law (Dr. Urmila Pandey) who holds 0.5% equity. Jyoti has 99.5%.
She has one term sheet of ₹1 Crore. That is on ₹20 Crores convertible note.
How to get Teafit?
You can get Teafit from their brand website. It’s also available in different online marketplaces like Amazon, Big Basket, etc. One can get Teafit from the retail stores. Currently, 200+ retail stores have Teafit in them.
Unit Economics of Teafit
The price of Teafit is ₹120.
| MRP | ₹120 |
| Trade Margins | ₹36 |
| COGS | ₹30 |
| Gross Profit | ₹54 |
What are the Annual Sales of Teafit?
| Fiscal Year | Annual Sales |
| 2021 – 2022 | ₹15.5 Lakhs |
| 2022 – 2023 | ₹45 ~ ₹55 Lakhs Projected |
| Month | Sales |
| July 2022 | ₹2.5 Lakhs |
| August 2022 | ₹2.1 Lakhs |
| September 2022 | ₹3.5 Lakhs |
She made ₹78,000 profit in 2021 – 2022. She didn’t spend any money on marketing.
Which shark gave Teafit an offer?
Namita Thapar was out.
Vineeta Singh & Anupam Mittal offered ₹50 Lakhs for 25%.
Peyush Bansal offered ₹50 Lakhs for 20%.
Aman Gupta offered ₹50 Lakhs for 10%.
| Offer 1 | Offer 2 | Offer 3 |
| Vineeta Singh & Anupam Mittal – ₹50 Lakhs for 25% | Peyush Bansal – ₹50 Lakhs for 20%. | Aman Gupta – ₹50 Lakhs for 10% |
Jyoti gave them a counteroffer. The offer was ₹50 Lakhs for 8%. All four sharks agreed and it was a four sharks deal.
What deal did Teafit get in Shark Tank India?
Teafit got a deal from Aman Gupta, Peyush Bansal, Vineeta Singh & Anupam Mittal. The deal was ₹50 Lakhs for 8%.
| Company Name | Teafit |
| Founder | Jyoti Bharadwaj |
| Asked Amount | ₹50 Lakhs for 3% |
| Final Deal | ₹50 Lakhs for 8% |
| Sharks | Aman Gupta, Peyush Bansal, Vineeta Singh & Anupam Mittal |
| Company Net Worth | ₹8.25 Crores |
| Company Website | tea.fit |
| Company Status | In Business |
What is the net worth of Teafit?
After the four sharks deal in Shark Tank India, the net worth of Teafit is ₹8.25 Crores.
Is Teafit still in Business?
Yes, Teafit is still in business serving people unsweetened tea.
