Let’s Try – Healthy Snacks, Backed by Sharks at Shark Tank India

Let’s Try are in the business of making healthy Indian style snacks or ‘Namkeen’, tapping into the country’s love for snacks and all things chatpata, Let’s Try is a snack brand that offers a range of tasty Namkeen—from Bikaneri Bhujia to the healthy mixture—all made with 100% groundnut oil with no added preservatives as well as ingredients such as flax seeds whereas most popular snacks use Palm oil. It is a Delhi-based startup whose founders are Nitin Kalra, Chitra Gupta, Neelam Kalra, and Geetanjali. Nitin Kalra and his family were previously branded under the ‘Earth Crust’ name.

Let’s Try claims to have sold its products to thousands of customers to date through online business, stand-alone stores, and word-of-mouth marketing. They are constantly trying to introduce new products which are healthier and tastier compared to the ones available in the market. They claim to have been in competition with Haldiram products.

In the first 7 months, their monthly sales grew from ₹ 50,000 to ₹ 16 lakhs. Their gross and net margin is 50% and 25% respectively. Kalra family (founders) asked for ₹45 lakhs by giving back 2% of their company in Shark Tank India.

The sharks Peyush, Ashneer, and Namita were out without making an offer. However, Aman presented them with an offer for 25 lakhs at 10% equity and 20 lakhs as debt to be returned after a year or two. Since the entrepreneurs did not want any debt, shark Anupam revised the offer to 45 lakhs at 15% equity. After some negotiation, the deal was revised to 45 lakhs at 12% equity! Wishing them success in the future!

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