Founders & their story

• Jigar Mehta
• Paras Fatnani
• Prafull Dwivedi

HoneyTwigs revolutionizes the way honey is consumed, offering a convenient and mess-free solution for honey lovers worldwide. The innovative packaging allows for easy tearing, squeezing, and consumption, making it perfect for on-the-go use. Ethically sourced and 100% plastic-free, HoneyTwigs ensure that every drop of honey you enjoy comes guilt-free.

With trust in quality being a paramount concern in the honey industry, they address this by providing transparent sourcing practices and maintaining the highest standards of purity. In response to the evolving usage of honey, their product offers versatility with two natural variants and five infused variants, catering to a variety of tastes and preferences. Each HoneyTwig sachet contains 8 grams of honey, equivalent to one teaspoon, ensuring just the right amount for your needs.

Their in-house developed packaging not only ensures convenience but also serves as a differentiator in terms of both taste and flavour preservation. HoneyTwigs are more than just a sweetener; they are a healthy, natural indulgence that enhances any culinary experience. Available in nine countries worldwide, HoneyTwigs are set to redefine the honey market, offering a modern, sustainable, and flavourful alternative to traditional honey consumption.

About the company

On a crisp December evening in 2015, Jigar and Paras, two buddies at a local pub, found themselves mulling over the idea of healthier living while sipping beers. Amidst the clinks of glasses and laughter, a figurative light bulb illuminated their conversation. Jigar, armed with his expertise in beeswax, and Paras, a fervent advocate for all things wholesome, delved into the untapped potential of honey. They questioned the need for honey to be as cumbersome as a grand piano and as chaotic as a child’s finger painting. Determined to tackle this sticky dilemma, they surveyed 3,000 individuals weary of honey drips and discovered that the concept of ‘pure’ honey was often ambiguous. Thus, they embarked on a mission to create honey-infused products tailored to diverse needs. Fast forward to August 2021, Prafull Dwivedi, an FMCG expert, joined forces with them, completing their trio. Together, they’re not merely focusing on honey but are revolutionizing health with an enjoyable twist. Enter Choco Twigs, their innovative almond-rich chocolate creation, elevating honey and chocolate from mere toast adornments to trendy kitchen essentials. Embrace their endeavour to transform a sticky mess into a refined health solution, where every drop signifies a stride towards a healthier, happier lifestyle. No clutter, no hassle – just the essence of pure, sweet nature, thoughtfully packaged for your enjoyment!

Revenue

The product is priced at Rs 200 per 250 gms, presenting a competitive edge against premium brands which typically charge between Rs 300-350 for a similar quantity. In the fiscal year 2022-2023, the company reported annual sales of 4 crores, with domestic sales accounting for 65% and international sales for 35% of the total revenue. Notably, September 2023 sales amounted to 35 lakhs. Within the domestic market, the sales breakdown reveals that 60% of the revenue is generated from HORECA (Hotels, Restaurants, and Catering) channels, while the remaining 40% is from retail sales.

Founders’ Ask 

75 lakhs for 3% equity at the valuation of Rs. 25 crores.

Offers:

Aman’s offer: 45 lakhs for 3% equity at the valuation of Rs. 15 crores 30 lakhs debt at 10% interest for 2 years.

Vineeta’s offer: 75 lakhs for 4% equity at the valuation of Rs. 18.75 crores.

Anupam and Ritesh’s offer: 75 lakhs for 3% equity at the valuation of Rs. 25 crores.

Peyush, Anupam and Ritesh’s offer: 75 lakhs for 3% equity at the valuation of Rs. 25 crores.

Aman and Vineeta’s offer: 75 lakhs for 4% equity at the valuation of Rs. 18.75 crores.

Founder’s Counteroffer:

1 crore for 5% equity at the valuation of 20 crores. (All 5 sharks)

Final Deal

Peyush, Anupam and Ritesh: 75 lakhs for 3% equity at the valuation of Rs. 25 crores.