FOMO, an Indian beverage company specializing in fresh-brewed iced teas, landed a sweet deal on Shark Tank India Season 3. The young entrepreneurs behind the brand, Avik Chaudhary and Gaurang Gadia, impressed two of the sharks with their guilt-free concoctions.
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Fresh Brews with a Business Mind
Avik and Gaurang, a dynamic duo with Avik pursuing an Executive MBA and Gaurang studying Masters of Business Laws, started FOMO during their college days. Their vision? To offer a healthy and flavorful alternative to sugary bottled beverages. FOMO's iced teas are brewed fresh, boasting no refined sugar, preservatives, or concentrates. This focus on clean ingredients resonated with health-conscious consumers.
Fomo Pitch In Shark Tank India Season 3
The young Fomo creators, Avik Chaudhary and Gaurang Gadia entered the Shark Tank India market with a novel take on drinks: freshly made iced teas flavored with honey and devoid of artificiality and processed sugar. They requested 4% equity in return for ₹35 lakh. The Sharks were pleased with the tasty flavor as well as the dedication to using healthy products.
Taking the Dive on Shark Tank
The campus special episode of Shark Tank India Season 3 saw Avik and Gaurang bravely facing the judges. They presented their brand, FOMO Brews, highlighting its unique selling points: fresh brewing, natural ingredients, and a growing presence across restaurants, corporate offices, online marketplaces, and even embassies. The entrepreneurs didn't shy away from mentioning their upcoming launch of milk mixes, catering to a wider audience.
Sharks Take a Sip
The sharks, known for their sharp questions and critical evaluations, were intrigued by FOMO's concept. Impressed by the taste ("Very Nice" exclaimed Aman Gupta!), some sharks saw potential in the brand's clean-label positioning and growing market share.
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A Winning Deal by Fomo
After a round of negotiations, FOMO secured an investment of Rs 35 lakh for 6% equity. Aman Gupta, co-founder and CMO of boAt, and Anupam Mittal, founder and CEO of Shaadi.com, joined forces to back the young beverage company. This investment would provide FOMO with the capital it needed to expand its reach and solidify its position in the Indian beverage market.
The FOMO Future
With a successful Shark Tank India appearance and a valuable investment secured, FOMO Brews appears poised for exciting growth. Consumers can expect to see the brand on more shelves and menus, offering a refreshing and healthy alternative to sugary drinks. The future looks bright for FOMO, and this Shark Tank India deal is sure to be a major stepping stone on their entrepreneurial journey.