Founders & their story

• Aakash Sotta
• Jay Sotta

CupJi, a fifth-generation family business entrenched in the tea industry, boasts an illustrious legacy of in-house manufacturing, profound expertise in export markets, a rich array of flavours and blends, and a strategic positioning. Their exquisite range of teas, enhanced with sugar alternatives such as Mulethi (liquorice) and Stevia, offers a delightful sip at an affordable price of Rs 22 per cup. Their reach extends across borders, with exports spanning to discerning markets such as Saudi Arabia, Australia, and Dubai. Embracing a diversified go-to-market strategy, Cup Ji leverages exports, corporate gifting, online channels, and B2B sales to fortify their presence both domestically and internationally. Since their inception in 2022, Cup Ji has garnered a sales split of 43% from exports and 57% from the domestic market.

In June 2023, they embarked on a dynamic online sales journey, tapping into the burgeoning Indian online green tea market, which stands at a substantial 150 crores. Cup Ji’s offerings span various categories including black tea, green tea, and herbal tea, each meticulously crafted to cater to diverse palates and preferences. With an eye on the future, Cup Ji sets an ambitious target to achieve 50 crores in annual sales over the next three years, propelled by their unwavering commitment to quality, innovation, and customer satisfaction.

About the company

Embark on a journey through India’s vibrant flavours with Cup-Ji, offering a range of Desi Flavoured Green Teas that captivate the senses with their authentic essence. Savor the ritual of enjoyment with their effortless approach: Simply Pour, Swirl, and Sip, and elevate your tea experience to new heights.

Drawing from a rich family legacy spanning over a century in the tea trade, Cup-Ji has embarked on a mission to revolutionize the way green tea is enjoyed in India. They have innovated on two fronts – firstly, by ingeniously devising a convenient brewing system that encases green tea leaves and natural ingredients within a smartly designed paper cup and filter. Secondly, they have reimagined green tea by infusing it with quintessentially Indian flavours like Paan and Chatkara, seamlessly blending pleasure with health benefits. With Cup-Ji, all it takes is hot water to transform the ordinary into the extraordinary.

This fusion of Indian flavours and Ayurvedic goodness, combined with their innovative brewing system, has earned Cup-Ji a prestigious nomination as one of the top 4 finalists in the Most Innovative Beverage category at Gulfood 2021, the largest International F&B event boasting participants from 85 countries and attendees from 156 countries. Cup-Ji stands tall as the sole representative of India on this global stage. Co-founders Aakash and Jay Sotta recognized that the key to resonating with their audience lies in creating a familiar experience for the Indian diaspora. Hence, Cup-Ji has introduced Paan and Chatkara variants, evoking scents and memories deeply rooted in Indian culture. These flavours linger on the palate of those who have had the pleasure of tasting Cup-Ji.

Receiving glowing reviews from all who have experienced their products, Cup-Ji is making significant strides in the streets of Mumbai, the birthplace of its founders. Soon, Cup-Ji will be synonymous with households across the nation and around the world, spreading the essence of India to every corner of the globe.

Revenue

Cup Ji has amassed a commendable lifetime sales figure of 62 lakhs, demonstrating a steady growth trajectory. In September 2023 alone, their sales amounted to 3.5 lakhs, with online sales accounting for 90,000 during that month. Since June 2023, their online sales from June to September totalled 2.6 lakhs, reflecting a burgeoning digital presence and consumer engagement.

Their meticulous approach to manufacturing ensures that each cup of tea is produced at a cost ranging from 4.5 to 5.5 rupees, balancing quality with affordability. With a blended gross profit margin of 40% and a direct-to-consumer (D2C) gross profit margin of 75%, Cup Ji strategically maximizes profitability across their diverse sales channels.

Founder’s Ask

50 lakhs for 5% equity at the valuation of Rs. 10 crores.

No Deal

Reasons for no deal

Amit: There is no product market fit.

Vineeta: They should focus on flavours and not on cups.

Aman: The aspiration of founders is too low.

Namita: The product can be easily replicated.

Anupam: The export option will not work as India is not known for green tea export.