After Rs 50 Lakh Rejection On Shark Tank India, This Startup Is Now Valued At Rs 120 Crore

Shark Tank India is a business reality show that sees many startups and businesses¡¯ dreams coming true, while some return disappointed when rejected by the judges. But that does not necessarily mean the end of the road for them, as there are indeed some businesses that go on to become successful despite getting rejected on Shark Tank India.

One such startup has been Theka Coffee, whose founders have experienced nothing but growth after rejection on Shark Tank India, jumping from Rs 5 crore valuation to Rs 120 crore.

When Coffee Startup 'Theka' Was Rejected For Rs 50 Lakh Deal On Shark Tank India

theka coffee/shark tank india

During the first season of Shark Tank India, founder Bhupinder Madan made a pitch for the business and requested Rs 50 lakh in funding in exchange for 5% equity. Despite impressing the sharks with his product and receiving a lot of advice from them, Bhupinder left empty-handed. Although he is on the right track, Peyush Bansal expressed skepticism regarding the production's logistical aspects. In a recent interview with India Today, co-founder Abhishek Acharya said that he doesn¡¯t like to think of the Shark Tank experience as a ¡®rejection¡¯.

He said, ¡°To be very honest, we were not ¡®rejected¡¯. The ¡®Sharks¡¯ had a few doubts about the limitations of the logistics and the shelf life of the product. We already had answers to that but refused to reveal it on national television, which would have given out our trade secret. The public sentiment was in favour of us after the episode was aired. The majority of the audience could connect with our pitch and wanted us to succeed, which translated into the business we have now after the brand was launched pan India.¡±

Also Read: Startups That Went On To Become Successful Despite Rejection On Shark Tank India

Startup's Journey To Rs 120 Crore Valuation After Shark Tank India Rejection

shark tank india reject theka 120 crore valuation/x

When asked about their journey after Shark Tank India, Theka's co-founder Abhishek said, ¡°We have been approached by multiple VCs (venture capitalists) and investors globally. In case you aren¡¯t aware, Theka Coffee¡¯s journey was a case study published in the case centre of IIM- Ahmedabad recently", adding ¡°The business has grown more than 20X. The brand went from Rs 30 lakhs yearly at the time of the show to more than Rs 60 crore ARR.¡±

There are reportedly 800 Theka Coffee outlets now in more than 45 cities across India. The company¡¯s current valuation is Rs 120 crore, a massive leap from the Rs 5 crore valuation they were seeking on Shark Tank India in season one.

More About Theka Coffee

theka coffee shark tank 120 crore/telegraphindia

Started in 2017 with a mission to serve the most affordable freshly brewed coffee, Theka coffee is an entrepreneurial project to prove it does not take a lot of money to start a coffee revolution. The startup sources 100% Arabica beans from Chikmagalur and empowers local communities and aims to redefine the future of coffee world. It claims to sell Rs 5 lakh coffee bottles monthly. As far as its coffee is concerned, it mentions "Unlike other espresso infused coffees, Theka coffee uses cold brew to make all its coffee, which involves steeping coarsely ground coffee in cold water for 16-36 hours, this process results in exceptionally smooth, low-acid, and high-caffeine coffee, delivering a unique and refreshing coffee experience to customers."

Also Read: How Coffee Giant Starbucks Also Works As An 'Unregulated' Bank

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