Co-founders of Diabexy don’t give in to bargaining trend, refuse 1.5 crore offer


Shark Tank India Season 2: Co-founders of Diabexy don’t give in to bargaining trend, refuse 1.5 crore offer | Twitter – SonyTv

In the latest episode of Shark Tank India Season 2, the co-founders of ‘Diabexy’, Lokendra and Nishu Tomar, turn down an offer of Rs 1.5 crore for 20 per cent equity and say they are satisfied with announcing their company’s model to those watching the show.

Diabexy

Diabexy is a snack and food brand for diabetics with a vision of eradicating diabetes from India. The founders spoke about Indian food consumption habits, which revolve around grains that contain a high glycemic index, which add sugar to our bodies. The food products by the company use alternatives that have lesser glycemic index like oligo fructose, which is a fiber to sweeten the cookies and other items. The products offered by the company include cookies, flour, and more.

The company began with keto and ‘diabexy’ products, with both contributing 50 per cent to the sales. However, as the fad for keto diet started to go down the sales of ket products also went down.

The company was founded in 2016 and has gathered over 3.5 lakh customers. The co-founders have been able to take away a salary of Rs 1 crore collectively in addition to making a hefty profit of Rs 1.5 crore. Currently they have 70 per cent repeat customers for their items with a team of 40 employees other than the founders.

Pitch and offer

He asks the sharks for Rs 1.5 crores for 1 per cent equity.

The cost of products by Diabexy is on the expensive side, as pointed out by Anupam Mittal, founder and CEO of Shaadi.com, as their flour costs Rs 500 per kg, which will be too expensive for the average customer. He also finds competition concerning and backs out.

While Anupam backs out Aman Gupta co-founder and CMO of boAt, Namita Thapar, Executive Director of Emcure Pharmaceuticals, Peyush Bansal, Founder-CEO of Lenskart.com and Amit Jain, Co-Founder-CEO of CarDekho Group together offer a deal of Rs 1.5 crores for 20 per cent equity. But Lokendra doesn’t…



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