What Happened to Zoff After Shark Tank India?
Spice is very popular in India. Whatever food you want to make, you’ll need spice in it. Otherwise, you won’t get that satisfaction from eating it.
The spice market in India is ₹80,000 Crores. And only a few players are dominating this market. This spice industry is very unorganized also. To disrupt this spice market, Zoff was born.
Who is the Founder of ZOFF?
Akash Kumar Agrawal & Ashish Agrawal are the founders of Zoff. They are from Raipur. They are brothers. They started Zoff in 2018.
How to get Zoff?
You can get Zoff on the brand website. It’s available in different marketplaces. It’s also available in 10,000+ retail stores. They want to become a global player in the spice industry.
Akash takes care of the online sales. Ashish takes care of offline sales. But they don’t have any active CEO yet in the company.
How much money did they ask for Zoff?
They came to Shark Tank India seeking ₹1 Crore for 0.5% equity in the company. Which gives the company a valuation of ₹200 Crores. They have invested ₹30 Crores of their own money in the business.
The packaging of Zoff is really nice. It comes with zip lock technology. The quality is properly maintained.
They are spending a lot on marketing. Shilpa Shetty is their brand ambassador.
The brothers originally come from a steel background. They have a family business in steel. But they wanted to do something different than steel. They researched a bit on the spice sector and realized that there’s a lot of scope in this industry. The profit margin is really high.
They started their journey online. They’ve grown 400% in the last 3 years.
Last months sales
| Online | ₹4.5 Crores |
| Offline | ₹2.5 Crores |
| Total | ₹7 Crores |
They are making a monthly profit of ₹70 ~ ₹80 Lakhs. Their yearly profit is around ₹5 Crores.
Automated process of Zoff
They’ve shown their plant video to sharks. And the video really impressed them. The plant is based on 3 acres of land. 200 people work in that plant.
- Cool grinding technology: They don’t use nitrogen. They compress the materials at room temperature and secure the nutrients fully.
- No hand touch: In the entire facility, nothing needs to be hand touched. Once you unload the raw materials in the facility, it will come out in a packet.
- 7-step cleaning system: It has 7 7-step cleaning system so that no dust debris can get mixed in the production unit.
- Roasting technology: Some spices need to be roasted properly to have a proper aroma. They have that technology also.
- Cold storage: They have an in-house cold storage unit where everything is stored properly.
Which shark gave Zoff an offer?
Anupam Mittal gave a conditional offer. He offered them ₹1 Crore for 2%. But the condition is ₹18 Crore loan from their father must be converted to equity.
Aman Gupta gave the 2nd offer. He offered them ₹1 Crore for 2% equity.
Vineeta Singh gave the 3rd offer. She offered them ₹50 Lakhs for 0.75% equity and ₹50 Lakhs debt. Which gives the company a valuation of ₹66.67 Crores.
Amit Jain gave the 4th offer. He offered them ₹1 Crore for 1.5% equity in the company. Which gives the company a valuation of ₹66.67 Crores.
| Offer 1 | Offer 2 | Offer 3 | Offer 4 |
| Anupam Mittal – ₹1 Crore for 2% | Aman Gupta – ₹1 Crore for 2% | Vineeta Singh – ₹50 Lakhs for 0.75% & ₹50 Lakhs debt | Amit Jain – ₹1 Crore for 1.5% |
Namita Thapar was out because there was no active CEO in the company.
The founders returned with a counteroffer. They wanted 1 Crore for 0.75%.
| Company Name | Zoff |
| Founder | Akash Kumar Agrawal & Ashish Agrawal |
| Asked Amount | ₹1 Crore for 0.50% |
| Final Deal | ₹1 Crore for 1.25% |
| Shark | Aman Gupta |
| Company Net Worth | ₹80 Crores |
| Company Website | zofffoods.com |
| Company Status | In Business |
What deal did Zoff get in Shark Tank India?
Aman Gupta revised his offer. He offered them ₹1 Crore for 1.25%. The founders agreed. They took the deal. Which gives the company a valuation of ₹80 Crores.
