Shark Tank India Season 3: Will Sharks Be Impressed by 'Tiggle' Chocolate Drinks?

5 Dariya News

03-Feb-2024

Tiggle is a firm that makes ready-to-make chocolate mixtures with finely roasted cocoa for increased flavor. The company was featured on Shark Tank India Season 3. Anuva Kakkar founded Tiggle in April 2021 intending to bring about a hot chocolate revolution throughout the nation.

Anuva Kakkar, a graduate of the Bachelor of Business Administration program, worked as a freelance content writer before transitioning into the role of marketing manager. She first struggled to sell her mouthwatering hot chocolates, so during the shutdown, she changed course, working with Tamil Nadu cocoa growers to launch Tiggle online in November 2020. Additionally, you may sign up for Alippo's chocolate-making course.

Chocolate Tiggle Shark Tank India Pitch

Tiggle, an Indian business specializing in vegan and dairy-free chocolate, made its debut on Shark Tank India Season 3, Episode 8. The company was founded in 2021. They provide pre-made chocolate mixtures that are created from finely ground cocoa. In addition to their signature dark hot chocolate, they have iced chocolate for the summer.

They use their facilities to manufacture their goods. Since its launch, the creator revealed that more than 37,000 clients have benefited from their services on Amazon and their website. The entrepreneur, who valued her firm at ₹10 Crores, requested an investment of ₹50 Lakhs in exchange for 5% of the business.

The most expensive item offered by Tiggle is their iced chocolate, which costs ₹55. But their hot chocolate costs ₹35 at retail. In comparison to their competitors, the founder mentioned that their prices are slightly higher. Tiggle closed sales at ₹12 lakhs last month, and the company expects to make between ₹1 and ₹1.5 crores in revenue in FY23–24.

Tiggle Chocolate Shark Tank India Funding & Negotiations

Namita acknowledged Anuva's lucidity of the idea but chose not to participate because of India's small market. Citing identical reasons, Azhar and Anupam also decided to withdraw. Amit gave ₹20 Lakhs for 5% and the remaining amount as debt at a three-year interest rate of 15%, demonstrating his support for business owners like Anuva. Peyush asked for 1% of net sales as a royalty until he recovered two times his investment, and he offered ₹50 lakhs for 20% of the business.

Peyush invited Amit to accompany him, and Amit accepted, thus Tiggle had just one option left. They have changed their royalty to 2% up till the recovery of ₹1 crore. When Anuva replied at 15%, Peyush first rejected it. Following careful consideration, the founder agreed to accept their initial offer of ₹50 Lakhs, with a 20% and 2% royalty till ₹1 Crore is repaid.

About The Tiggle

Anuva, an Agra native, earned her diploma in 2019. She began working on Tiggle in August–September 2020 and sampled chocolate from around 50 farms. In September 2021, she launched Tiggle in D2C Space following the whole testing procedure.

The creator of Tiggle, India, is Anuva Kakkar. The country has a 20,000 crore chocolate market.

With a one-time expenditure of Rs 20,000, she launched Tiggle from her house, and seven or eight months later, she had her production facility. She now has 37,000 customers across her website and Amazon.