From Spices, Desi Games, To Entering The Metaverse
7 months ago Rituka MZoff and Cloudworx bag an investment from the Sharks, and Desi Toys brings out the kids in the Sharks with their fun and classic desi toys.
Zoff’s Zaykeydar Deal
The Spices market is massive in India spanning over 80,000 crores. However, there is expansive adulteration of spices with brick powder, cow dung, etc. Bringing innovation to the spice sector, Akash & Ashish Agrawal began Zoff in 2018. With unique zip-lock packaging, cool-grinding and roasting technology, and a 7-stage cleaning system, Zoff aims to become a top spice player in India. The products are available on its website & e-commerce marketplaces, over 10k retail stores, and HoReCa availability. With over 200 employees, they have 7 crores in last month’s sales with a projection profit of 5-6 crores in FY22-23.
Pitching for an investment of 1 crore for 0.5% equity @ a 200cr valuation, Zoff receives 4 offers from Sharks Anupam, Aman, Vineeta, and Amit. Choosing Aman’s revised offer of 1 crore for 1.25% equity @ an 80 cr valuation, the founders of Zoff seal a deal with Shark Aman.
Desi Toys Revives Classic Desi Games
Toys are an essential part of childhood. However, the toy industry is a cluttered market with too many players. Bringing nostalgic childhood toys and reviving classic toys, Desi Toys was started by Swapna Wagh in 2017. Understanding the vital role toys play in building skills, Desi Toys brings classic toys with a fresh look. The products are made in India, and provide employment to local artisans. With lab tested safe products, they are available on websites, e-commerce marketplaces, and retail stores such as Hamleys. They have sales of 1.15cr in FY21-22 with a projection of 2.5cr in FY22-23.
Asking the tank for an investment of 50L for 3% equity @ a 16.67 cr val, Desi Toys receive an offer of 20L for 20% equity & 30L debt from Shark Amit on the condition that they can expand the range to other products. However, the founder stood her ground and turned down the deal as she did not want to give up so much equity.
Cloudworx Brings 3D Modeling To A New Level
The immersive metaverse future is here. Companies and consumers alike prefer a virtual world, an immersive experience through a virtual spectrum through which they can showcase their brands. Bringing a platform to enables SMEs & MSMEs to build and provide this experience to their consumers, Cloudworx was built by Yuvraj Tomar in 2021. Cloudworx is a no-code SaaS enterprise metaverse platform that allows you to build a 3D app or model (digital twin) without any coding knowledge. It can also help businesses to create a brand-experience metaverse for consumers.
Beginning its journey in 2019, Cloudworx allows for energy & person heat mapping. Using this SaaS, companies can add data elements; create 2D & 3D look & feel; build app workflows; design & link all the pages; and lastly publish in multiple platforms. Currently, they offers 15 platforms on which it can be published. With a lifetime sales of 1.45cr, they have 14L in sales last month. Previously Cloudworx has raised a round of 71L @ a 8cr valuation.
Seeking an investment of 40L for 2% equity @ a 20cr valuation, Sharks Anupam & Namita offer a conditional deal of 40L for 5% equity. The conditions are, Namita’s team will conduct proper due diligence & evaluate the use case. Countering with 40L for 3.2% equity @ a 12.58 cr valuation, the Sharks sealed the deal.
