Let’s Try Foods Shark Tank India appearance marked one of the most dramatic valuation negotiations in Season 1, where four founders from Delhi presented their healthy snack brand and walked away with a double Shark deal. The company entered the tank seeking ₹45 lakhs for just 2% equity, valuing their bootstrapped snack business at ₹22.5 crores. With monthly sales of ₹3 lakhs and an impressive portfolio of 50 SKUs, the founders faced intense scrutiny over their numbers before securing a deal with two of India’s most prominent investors.
Let’s Try Foods Shark Tank India Pitch Overview
The pitch began with four entrepreneurs entering the tank to showcase their range of multigrain snacks and chips. Founded in 2017 and based in Delhi, Let’s Try Foods positioned itself as a premium healthy snacking alternative in the crowded Indian FMCG market. The founding team consisted of four partners including a couple, bringing diverse expertise in food technology and business operations to the table.
With 50 different snack varieties in their portfolio, the company claimed to have achieved significant product-market fit in the Delhi-NCR region. Their ask of ₹45 lakhs for 2% equity immediately raised eyebrows among the Sharks, as it implied a pre-money valuation of ₹22.5 crores despite relatively modest current revenues of ₹3 lakhs per month.
| Company Attribute | Details |
|---|---|
| Founded Year | 2017 |
| Founding Team | 4 Members (3 Female, 1 Male) |
| Headquarters | Delhi, India |
| Product Range | 50+ Snack SKUs |
| Monthly Revenue | ₹3 Lakhs |
| Gross Margin | 55% |
About the Founders
The founding team of Let’s Try Foods brought together complementary skills essential for building an FMCG brand. Based in Delhi, the four entrepreneurs included a married couple among them, creating a family-operated business dynamic that resonated with several Sharks. Their journey began in 2017 when they identified a gap in the market for genuinely healthy snacking options that did not compromise on taste.
With backgrounds spanning food technology, supply chain management, and marketing, the team spent four years bootstrapping the company before appearing on Shark Tank India. Their Delhi manufacturing facility allowed them to maintain strict quality control while experimenting with regional flavors and multigrain formulations that became their signature offering.
- Bootstrapped operations since 2017 without external funding
- Manufacturing facility located in Delhi with in-house production
- Team composition emphasizes female leadership with 3 women founders
- Developed proprietary recipes for multigrain snacks and chips
- Combined expertise in food tech, operations, and brand building
Shark’s and Founder’s QnA
What are your current sales numbers and growth trajectory?
We are currently clocking ₹3 lakhs in monthly revenue, which translates to an annual run rate of ₹36 lakhs. While this might seem modest compared to our valuation ask, we have been completely bootstrapped until now and have achieved this with limited marketing spend. Our month-on-month growth has been consistent at around 15-20%, and with the right capital injection, we project reaching ₹1 crore monthly revenue within 18 months.
Can you break down your margin structure for us?
Our gross margins stand at a healthy 55%, which is quite strong for the FMCG snacks category. After accounting for salaries, rent, logistics, and other operational expenses, we maintain a net margin of 25%. This gives us sufficient buffer for marketing investments while remaining profitable at the unit economics level. The 55% gross margin allows us to offer competitive pricing to retailers while maintaining healthy cash flows.
Why are you asking for 2% equity against ₹45 lakhs? That values you at ₹22.5 crores.
We understand the valuation might appear aggressive based on current revenues, but we are positioning this as a pre-Series A round. Our 50 SKUs represent significant R&D investment, and we have already achieved product-market fit in Delhi. The ₹22.5 crore valuation factors in our brand potential, proprietary recipes, and the exponential growth possible in the healthy snacks market. We believe we are building the next big snack brand out of India.
What is your distribution strategy? Are you online only or do you have retail presence?
We currently operate through a hybrid model. Approximately 40% of our sales come from our own website and Amazon, while 60% comes from offline retail distribution in Delhi-NCR. We are present in over 200 retail stores including Modern Trade outlets like Big Bazaar and local kirana stores. Our strategy moving forward is to strengthen our D2C presence while expanding retail footprint to Tier 2 and Tier 3 cities.
How do you differentiate from established players like Haldiram and Bingo?
Unlike traditional snack brands focused on taste alone, we emphasize nutritional value without compromising flavor. Our multigrain chips contain 40% less oil than conventional potato chips and include millets like ragi and jowar. We target health-conscious millennials and Gen Z consumers who read ingredient labels. While Haldiram owns the traditional namkeen market, we are creating the healthy snacking category for urban India.
What will you do with the ₹45 lakhs investment if we give it to you?
The capital will be deployed across three verticals: 40% towards marketing and brand building to increase our online customer acquisition, 35% for working capital to manage inventory and expand our retail distribution network, and 25% towards new product development and hiring key personnel in operations and marketing. We need this investment to transition from a Delhi-centric brand to a national player.
We believe 2% is too low for the risk we are taking at this revenue level. Would you consider 12% equity for ₹45 lakhs?
This is a significant dilution from our initial expectation of 2%, valuing us at ₹3.75 crores instead of ₹22.5 crores. However, we recognize the strategic value that Sharks like yourselves bring beyond capital. Having two Sharks with expertise in scaling consumer brands and technology integration would dramatically accelerate our growth. After discussion among the founding team, we accept your offer of ₹45 lakhs for 12% equity.
How do you plan to scale production to meet national demand?
Our current Delhi facility can handle 3x growth with minor optimizations. For national expansion, we plan to adopt a hub-and-spoke model with regional co-packers who meet our quality standards, while maintaining central control over recipes and key ingredients through our proprietary premix supply. This asset-light approach will allow us to scale without heavy capex investment in manufacturing facilities across India.
Key Stats & Financials
Understanding the financial health of Let’s Try Foods reveals why the Sharks were initially concerned about the valuation but ultimately interested in the deal. The company demonstrated healthy unit economics typical of well-managed FMCG businesses, though the revenue scale required significant capital to reach meaningful market penetration.
- Monthly Sales: ₹3 Lakhs with 15-20% MoM growth trajectory
- Gross Margins: 55% providing healthy contribution per unit
- Net Margins: 25% indicating operational efficiency
- Original Valuation: ₹22.5 Crores based on future potential
- Final Deal Valuation: ₹3.75 Crores post-negotiation
| Financial Metric | Value |
|---|---|
| Annual Revenue Run Rate | ₹36 Lakhs |
| Revenue per SKU | ₹6,000/month average |
| Customer Acquisition Cost | ₹250 (D2C channel) |
| Lifetime Value | ₹1,200 (4.8x LTV/CAC ratio) |
| Inventory Turnover | 8x annually |
| Debt on Books | Zero (bootstrapped) |
Business Potential and TAM
The Indian snack food market represents a massive opportunity for brands like Let’s Try Foods. Valued at over $5 billion and growing at 15% CAGR, the organized snacks sector is witnessing a paradigm shift toward health-conscious consumption. With increasing urbanization and rising disposable incomes, consumers are actively seeking alternatives to traditional fried snacks.
The healthy snacking sub-segment specifically is growing at 25% annually, twice the rate of the overall market. Let’s Try Foods targets the premium segment of this market, where gross margins of 55% are sustainable due to lower price sensitivity among health-conscious consumers. The company’s 50 SKUs allow them to capture shelf space across multiple categories including chips, namkeen, and roasted snacks.
- India’s packaged snacks market exceeds ₹40,000 crores annually
- Healthy snacks segment growing at 25% CAGR versus 15% industry average
- Premiumization trend driving higher margins in organized sector
- E-commerce penetration in food FMCG still below 5%, indicating massive headroom
Let’s Try Foods: Ideal Target Audience & Demographics
| Demographic Segment | Profile Details |
|---|---|
| Age Group | 18-40 years (Millennials & Gen Z) |
| Geography | Urban and Tier 1 cities initially |
| Income Level | ₹6 Lakhs+ annual household income |
| Psychographics | Health-conscious, fitness enthusiasts |
| Purchase Behavior | Label readers, willing to pay premium |
| Primary Channels | Modern Trade, Amazon, D2C website |
Marketing and Distribution Strategy
Let’s Try Foods employs an omnichannel strategy balancing immediate revenue through offline retail with long-term margin improvement via D2C channels. Their current split of 60% offline and 40% online reflects the reality of Indian snack consumption, where impulse purchases at kirana stores and supermarkets dominate.
The company’s future roadmap involves aggressive digital marketing to build brand awareness, coupled with strategic retail expansion. They plan to leverage the Sharks networks to enter Modern Trade chains nationally while building a robust supply chain capable of servicing both B2B and B2C demand efficiently.
- D2C Website optimization for higher conversion rates
- Amazon and Flipkart marketplace dominance in snack category
- Modern Trade expansion to 1000+ stores within 12 months
- Regional distributor partnerships for Tier 2/3 city penetration
- Influencer marketing targeting fitness and lifestyle communities
Let’s Try Foods Deal Outcome
After intense negotiations regarding the valuation mismatch between the founders’ expectations and market reality, Let’s Try Foods secured a deal with two Sharks. Anupam Mittal and Aman Gupta jointly invested ₹45 lakhs for a combined 12% equity stake, with each Shark taking 6% individually.
The final deal represented a valuation of ₹3.75 crores, an 83% haircut from the original ask of ₹22.5 crores. However, the founders recognized the strategic value of having both Anupam’s expertise in building consumer brands (Shaadi.com) and Aman’s experience in scaling distribution-heavy businesses (boAt). The deal provided not just capital but the mentorship necessary to navigate India’s complex FMCG landscape.
| Deal Parameter | Details |
|---|---|
| Total Investment | ₹45 Lakhs |
| Equity Diluted | 12% |
| Post-Money Valuation | ₹3.75 Crores |
| Shark 1 (Anupam Mittal) | ₹22.5 Lakhs for 6% |
| Shark 2 (Aman Gupta) | ₹22.5 Lakhs for 6% |
| Conditions | None specified |
Let’s Try Foods Post-Show Update
Following their appearance on Shark Tank India Season 1, Let’s Try Foods experienced the typical post-show visibility boost with significant spikes in website traffic and social media followers. The partnership with Anupam Mittal and Aman Gupta provided the brand with credibility in the investor community and access to valuable mentorship.
The company continues to operate through its website and major e-commerce platforms, maintaining its focus on healthy multigrain snacks. With the Sharks guidance, the brand has likely streamlined its operations and expanded beyond the Delhi-NCR region into other metropolitan markets, leveraging the ₹45 lakhs investment to build national distribution capabilities.
Business Analysis & Lessons
The Let’s Try Foods pitch offers valuable lessons in valuation expectations versus market realities for early-stage FMCG brands. The founders’ initial ask of 2% equity demonstrated confidence in their product but showed limited understanding of how venture valuations correlate with current revenue multiples. In the FMCG sector, revenue multiples rarely exceed 5-10x for pre-scale brands, making the original 60x+ multiple unrealistic.
However, the founders demonstrated emotional intelligence and business pragmatism by accepting the Sharks’ reality check and securing the deal at 12%. This willingness to pivot on valuation while maintaining control (retaining 88% equity) represents the optimal outcome for founders at this stage. The deal structure also highlights the value of bringing multiple Sharks, as the combined networks of Anupam and Aman offered diverse expertise in both brand building and operational scaling.
- Valuation must align with current revenues and sector benchmarks
- Strategic investors provide value beyond capital through network access
- Healthy unit economics (55% gross margins) attract investor interest despite modest scale
- Omnichannel distribution reduces risk compared to pure D2C models
- Founder flexibility on terms often determines deal success more than product quality alone
Pitch Conclusion
The Let’s Try Foods Shark Tank India journey illustrates the classic early-stage startup dilemma: balancing ambitious vision with current financial realities. While the ₹22.5 crore initial valuation raised eyebrows, the underlying business fundamentals—healthy margins, diverse product range, and growing health-conscious consumer base—ultimately convinced two Sharks to invest.
For aspiring entrepreneurs in the FMCG space, this pitch demonstrates the importance of understanding investor psychology and being prepared to negotiate terms that balance immediate capital needs with long-term equity preservation. Have you tried Let’s Try Foods products? Share your thoughts on their healthy snacking options in the comments below.