Vibhor Rastogi is a Co-founder.
ABOUT THE COMPANY
Think of Sholay without Basanti, or idlis without coconut chutney. Are you feeling well? Isn’t that correct? So Spicy Story is a brand that brings you the flavours of the streets in the form of a modern sauce. They established the company in the year 2019. They are available on their own website as well as on marketplaces such as SwiggyInstamart, Zomato, Big Basket, Flipkart, and Amazon. They are also sold in 1700 stores across five cities.
The goal is to bring the flavours of the streets to every corner of the country.
In terms of equity distribution, Soumyadeep owns 38% of the company, Gayatri owns 12% of the company, and Vibhor owns 4% of the company. The other two founding members own 21% of the company. The investors own 25%.
The unit cost about 150 rupees.
TANK FOR SHARKS
Pitchers requested 70 lakh rupees in exchange for 2% ownership.
Spice Story Revenue and Sales
The sales for the fiscal year 19-20 were 1.5 crore rupees. The sales for the fiscal year 20-21 were 2.5 crore rupees. In fiscal year 21-22, sales were 4.1 crore rupees. Their sales last month were 57 lakh rupees, and their projected sales are Rs. 9 crore. They have put 65 lakhs of their own money into the venture. They have raised two rounds of funding. They raised 1.7 crore rupees in 2021 at a pre-money valuation of 10.6 crore rupees. They raised 3 crore rupees in 2022 at a pre-money valuation of 23 crore rupees. The gross merchandise value is 57 lakh rupees, while the net revenue is 32 lakh rupees. In the next two years, revenue will be around 60 crores.
Namita offers 70 lakhs in exchange for 5% ownership of the company.
The remaining sharks all backed out of the deal.
The agreement was reached with Namita for 70 lakh rupees in exchange of 5% equity in the company.
