Food & Drinks
Zoff
SEASON 2 : Episode 28
BRAND
Zoff
COMPANY NAME
Asquare Food & Beverages Pvt. Ltd.
FOUNDERS
Akash Kumar Agrawal, Ashish Agrawal
ORIGNAL ASK
Rs. 1 crore for 0.5% equity at the valuation of Rs. 200 crores.
DEAL
Rs. 1 crore for 1.25% equity at the valuation of Rs. 80 crores.
Zoff is one of the best & high-quality spice brands with a wide range of products to make your daily meals taste better. It comes in unique zip lock packaging to ensure that their freshness is maintained until use.
They also have various packaging sizes of spices based on the requirements of the end user & there is no compromise in the quality.
Zoff Foods sells a variety of items, such as combo packs of spices and dry fruits and a Starter Basic Spices Kit that has the most important ingredients for making Indian food. The products from this brand are made with the best and freshest spices, which are handpicked from the best growing areas in India.
All of their products are available on their website & across Ecommerce websites like Flipkart, CRED, Bigbasket, etc. They are also available in more than 10,000 retail stores.
Founders & their story
Akash Kumar Agrawal
Ashish Agrawal
The brother-duo are from a business background. They were passionate about building their own brand.
In 2018, when they researched about MDH, a well-known spice brand & understood that it has been making a decent profit since years but doesn’t have an online visibility plus it is more regional. Thus. they decided to establish ZOFF as a household name across the country.
They then saw a need for ZOFF, a game-changing product in the Indian spice sector, because the market for spices was uninterested in innovation and was stagnant. They are the only company in the spice industry that uses cool grinding technology to grind spices at a very low temperature. This is done in a fully automated production plant that keeps the products’ purity, oil, smell, and spice.
About the company:
Zoff is a food company that started in 2018 & believes in the innovation of delivering food in its fresh form. They started out with a lot of different Indian and exotic spices. Raw materials are being brought in from different parts of the country so that all spices can have an authentic taste.
Zoff Foods is quickly becoming the leader in the Indian spice market thanks to its innovative Cool Grind Technology and high-quality products. Their vision is to be the top five spice players in India and number 1 online spice player.
Revenue:
In last 3 years, they have seen 400% online growth.
Their last month online sales were Rs. 4.5 crores & offline sales were Rs. 2.5 crores. Last month profit was around Rs. 70 to 80 lakhs. Projecting profit for FY 22-23 is Rs. 5 crores.
Founder’s Ask
Rs. 1 crore for 0.5% equity at the valuation of Rs. 200 crores.
Offers:
- Anupam’s conditional offer was Rs. 1 crore for 2% equity at the valuation of Rs. 50 crores. (Condition – Rs. 18 crores debt from their father will be converted to equity.)
- Aman offered Rs. 1 crore for 2% equity at the valuation of Rs. 50 crores
- Vineeta offered Rs. 50 lakhs for 0.75% equity at the valuation of Rs. 66.67 crores & Rs. 50 lakhs debt.
- Amit offered Rs. 1 crore for 1.5% equity at the valuation of Rs. 66.67 crores.
- Aman revised his offer to Rs. 1 crore for 1.25% equity at the valuation of Rs. 80 crores.
Founder’s Counter Offer
Rs. 1 crore for 0.75% equity at the valuation of Rs. 133.33 crores.
Final Deal
Rs. 1 crore for 1.25% equity at the valuation of Rs. 80 crores.
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