During Shark Tank India's third season, Gud Gum, a startup company that makes chewing gum, made an appearance. The impact on all of the sharks in this startup's business was significant. In return for five percent, the startup's founders had requested Rs 50 lakh. Ultimately, though, they received Rs 80 lakh for their 10% stake—four sharks took part in this.
4 percent royalty was also retained under this agreement, up till the recovery of Rs 80 lakh. Mayank B. Nagori and his younger brother Bhuvan B. Nagori founded this firm around two years ago. Mayank holds a master's degree in food science and a degree in chemical engineering. Bhuvan has studied entrepreneurship and marketing. He has also held the position of CMO of a tiny startup at such a young age.
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Gud Gum" Produces Chewing Gum For A Sharks Firm
India's Shark TankJudge Namita Thapar of Shark Tank India recently commended the progress of a Gurugram-based start-up that had landed a triple-Shark deal during the second season of the reality program.
Oral care company Perfora, which prioritizes digital marketing, is now five times more successful than it was before joining Shark Tank India.
"I closed the transaction with Perfora and met Tushar and Jatan in Delhi. Since I heard their presentation at the tank nine months ago, their sales have gone from 70 lakh per month to 3.5 crore per month. "They successfully raised $3 million at a valuation twice as high as Shark Tank. What more could I say?" With a picture of the co-founders, Thapar tweeted.
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Gud Gum Pitch For Shark Judges in Shark Tank India
The third episode of Shark Tank India, titled Gud Gum, was webcast on February 5, 2024. The Sharks were all too impressed with the entrepreneurs' items when they presented them to them. They want 5% in return for Rs 50 lakh. Aman Gupta made the initial offer, which was Rs 50 lakh for 5% stock plus 5% royalty till Rs 50 lakh was recovered. Anupam joined him in this offer, contributing 10% equity.
Following a conversation, Ritesh accepted this offer as well, and Vineeta Singh accepted three offers totaling 5% ownership. Thus, in order to close the sale at 4% royalty, Aman, Anupam, Ritesh, and Vineeta offered Rs 80 lakh for 10% ownership plus 5% royalty till Rs 80 lakh is recovered.
Gud Gum Free of PVA And Composed of Chicle Trees
Gud Gum doesn't include PVA. Polyvinyl acetate, or PVA, is a material used to make glue and tires. Gum is made from a very small portion of this PVA. Even if the portion is tiny, it takes a hundred years for it to melt on its own. Gud Gum uses chicle tree instead. As a result, chewed gum does not adhere to surfaces and may be simply disposed of by mixing it with dirt.
Gud Gum is made with natural oil and sweetened with natural sweetener in place of sugar. This implies that people with diabetes and kids can both chew it. Everything seemed to be going well so far, but the shark preferred something else. For the time being, allow us to inform you of the amount of funds that Mayank and Bhuvan have come to collect.
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