Food & Drinks
The Healthy Binge
SEASON 2 : Episode 33
BRAND
The Healthy Binge
COMPANY NAME
True Agroroots Private Limited
FOUNDERS
Pranav Korke, Karan Korke
ORIGNAL ASK
Rs. 50 lakhs for 5% equity at a valuation of Rs. 10 crores.
DEAL
Rs. 50 lakhs for 5% equity at a valuation of Rs. 10 crores.
In the past few years, the word “binge” has come to mean eating too much, especially unhealthy foods. But there are a lot of healthy choices that can satisfy your cravings without letting you down on your health goals. That’s where Healthy Binge comes in. It’s a brand that makes healthy snacks that are great for bingeing without feeling bad about it.
The Healthy Binge is a ready-to-eat snack that is made from millets like jowar, ragi, and quinoa. Their snacks contain dietary fibre equivalent to two apples, iron equivalent to a bunch of spinach, protein equivalent to one egg & calcium equivalent to half a glass of milk.
The Healthy Binge snacks contain comparatively less fat by 50% and are 100% tastier.
Their snacks’ USP is 0% cholesterol, 100% baked, No trans-fat, gluten-free & 100% vegetarian with No Maida or Palm oil.
They are available across retail stores in 13 cities & E-commerce platforms like Amazon, Flipkart & Big Basket.
Founders & their story
Pranav Korke
Karan Korke
Pranav is A CPA with 15+ years of professional experience working in various service organizations in Australia before moving back to India to return to his roots.
After returning to India, he served as the CEO of Saguna Rural Foundation, working with the Managing Trustee to connect with farmers across Maharashtra and promote regenerative farming, which enhances productivity and protects the land and environment.
Later, along with his cousin, Karan Korke, they created True Agroroots Private Limited in March 2019 to give consumers easy, healthy food alternatives and increase demand for regenerative agriculture producers. They always wanted to provide people with healthy snacking alternatives that were both delicious and nutritious.
So, after numerous iterations and modifications, including launching a brand called Fortix (dealing in Fortification), they finally, in April 2021, settled on The Healthy Binge with the tagline of guilt-free snacking.
About the company:
The brand was launched in 2021 & offers a tasty and nutritious alternative to traditional fried junk food, with a wide range of flavours and health benefits. Till now, they have sold more than 2 lakhs+ packets.
Their products are designed to cater to the growing demand for healthy, guilt-free snacking options.
Their in-house manufacturing facilities ensure the best quality products. The team of quality assurance managers tests the product at various stages because everyone deserves the best. Only the finest quality ingredients are handpicked to maintain the gold standard!
Amount Raised:
In April 2021, they raised Rs. 1.13 crores at a valuation of Rs. 7.5 crores.
Revenue:
Lifetime sales are Rs. 56 lakhs.
The last three months’ sales were Rs. 11 lakhs on October 22. Rs. 7.5 lakhs on September 22 & Rs. 6.5 lakhs on August 22.
60% of the sales comes from online & 40% from offline stores.
The MRP of the product is Rs. 40, of which Rs. 14 goes to the distributor’s margin, COGS is Rs. 12, and Gross Profit is Rs. 14, which is approx. 55%.
Founder’s Ask
Rs. 50 lakhs for 5% equity at a valuation of Rs. 10 crores.
Offers:
Peyush & Aman jointly offered Rs. 50 lakhs for 5% equity at a valuation of Rs. 10 crores.
Final Deal
The deal was finalized with Aman & Peyush at Rs. 50 lakhs for 5% equity at a valuation of Rs. 10 crores.
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