iMumz, Healthy Binge, and Freakins Seal Deals with Sharks
iMumz Guides and Supports Expectant and New Mothers
The crucial early years of a child’s life, from the womb to the first two years, are often compromised by modern lifestyle changes and busy schedules, leading to issues like diabetes and personality disorders. iMumz, founded by Mayur Bhurpate, Ravi Teja, and Dr. Jaideep Malhotra, aims to address this gap by offering comprehensive support and guidance for expectant and new mothers.
iMumz Secures a Deal with Shark Peyush
iMumz is a 24/7 platform that provides continuous guidance and lifestyle coaching for mothers. With features like expert yoga and nutrition guidance, and live classes, the app has attracted over 6 lakh downloads and has 30,000 paid subscribers. The founders sought Rs. 70 lakhs for 1% equity at a Rs. 70 crore valuation. Shark Peyush offered Rs. 10 lakhs for 1% equity at a Rs. 10 crore valuation plus Rs. 60 lakhs in debt at 10% interest. The founders accepted the deal, marking a step forward in supporting and guiding mothers.
Healthy Binge Receives the Exact Deal They Were Seeking
In a market flooded with unhealthy snack options, Healthy Binge, founded by Karan and Pranav Korke, aims to provide healthier alternatives. Their products are baked, gluten-free, vegetarian, and made from healthy ingredients. With lifetime sales of Rs. 56 lakhs and a recent monthly sales figure of Rs. 11 lakhs, they sought Rs. 50 lakhs for 5% equity at a Rs. 10 crore valuation. Sharks Peyush and Aman offered exactly what they were asking for, with Peyush even proposing an additional Rs. 1 crore due to his admiration for the founders. The deal was gladly accepted, with Peyush and Aman joining the team.
Freakins Brings a Fresh Take on Fast-Fashion Denim
Freakins, a fast-fashion denim brand founded by Puneet Sehgal and Shaan Shah, focuses on offering trendy and affordable denim primarily for women and Gen-Z. With over 35 categories and 1500 styles, they have processed more than 2.5 lakh orders in the past 1.5 years. Despite a net sales figure of Rs. 10.4 crore in FY21-22, the company is currently operating at a loss.
Freakins Closes a Deal with Shark Vineeta
The founders of Freakins sought Rs. 70 lakhs for 1% equity at a Rs. 70 crore valuation. Shark Vineeta offered Rs. 50 lakhs for 2.5% equity at a Rs. 20 crore valuation, along with Rs. 20 lakhs in debt at 12% interest, contingent on a larger investment round. The deal was finalized, setting Freakins on a path to becoming a leading name in India’s fast-fashion denim industry.