Cosmix Update 2024 | Shark Tank India Season 03
Cosmix founders Vibha Harish and Soorya Jagadish pitched in Shark Tank India 3, seeking 1 crore in exchange for 1% equity.
Cosmix is a plant-based supplements brand that offers superfood supplements inspired by herbalism.
It has over 15 protein and superfood supplement products focusing on different body parts like the skin, hair, gut, liver, and other supplements.
Namita Thapar and Anupam Mittal offered ₹1 crore for 2% equity and 1% royalty until ₹2 crores were recouped, but the founder stuck with their original ask.
Peyush Bansal immediately matched their original ask, and the counteroffer battle began between sharks.
Are you interested to know which shark won that battle? And what happened to Cosmix after Shark Tank? Let’s find out in this Cosmix update.
| Company Name | Cosmix |
|---|---|
| Founders | Vibha Harish, Soorya Jagadish |
| Founded | 2019 |
| Product | Herbal health supplements |
| Ask | ₹1 crore for 1% equity |
| Deal | ₹1 core for 1% equity + 1% royalty unit ₹1 crore recouped |
| Sharks | Namita Thapar |
Cosmix Update Shark Tank India
Cosmix was successful in securing a deal from Shark Tank India. The founders accepted Namita Thapar’s offer of ₹1 crore for 1% equity along with 1% royalty until ₹1 crore is recovered.
Presently, they are working on scaling the brand on a worldwide level with the help of guidance and a network offered by Namita Thapar.
While their monetary figures are not yet public, it is clear that Cosmix, as a brand, has gained massive exposure since appearing on Shark Tank India.
As of March 2024, Cosmix is in business, and its annual revenue has grown over ₹30 crores. The brand is featured in many popular news portals and business magazines.
Also Read:
About the company
Vibha Harish and Soorya Jagadish are the co-founders of Cosmix.
Vibha is an herbalist who started the Cosmix journey in 2019, and Soorya, a supply chain engineer, joined her in 2021, right after their marriage.
Cosmix is an Indian brand that offers protein and superfood supplements based on Herbalism. The company’s primary motive is to focus on holistic health.
The items sold at Cosmix have positively no gut-irritating gums or enzymes, sugar, stevia, or synthetic flavors and preservatives.
The goal of Cosmix is to dispose of the toxic beauty standards and claims of magical overnight improvements – creating a difference in health and aesthetics.
Cosmix believes in feeling happy and healthy without fixating on weight, having clear skin, and other beauty standards.
Their product offering includes two categories – protein supplements and superfood supplements, including a total of 25 different items.
Prominently, the Mahabaleshwar strawberry protein powder, their most recent addition to the lineup and bestseller, represents 50% of their overall sales.
As mentioned on Cosmix’s official website, the company incorporates solutions for digestion, hormonal health, skin and hair, protein, stress, immunity, energy, gut and liver health.
It likewise showcased its three most-selling items, including — No-nonsense Plant Protein, My Happy Gut, and Healthy Hair.
Cosmix’s bundle section consists of a women’s holistic health bundle, an internal beauty bundle, a hormonal acne ritual, and so on. They also offer 10% off on their original price.
Cosmix Shark Tank India Pitch Recap
Vibha Harish and Soorya Jagadish appeared on Shark Tank India season 3, pitching their clean plant-based supplement brand Cosmix.
The couples asked for ₹1 crore in return for 1% equity in their company.
The founders began their pitch by bringing a dull plant with them. One of the co-founders, Soorya, demonstrated the necessity of learning the root cause of the problem in order to revive the plant.
Using the same analogy, Vibha explained that if someone suffers from acne, the root cause might be irritated gut health, hormonal health, or liver health.
Understanding the importance of improved internal health before addressing a bodily problem is important.
To help people with the same issue, they launched Cosmix, a plant-based supplement brand that fixes the root cause and educates their customers about health and a healthy lifestyle.
Vibha mentioned that they have helped over 1 lakh people in their health journeys throughout the last few years.
Then Vibha served some samples of their supplements to the Sharks, which they tasted and asked a few questions about.
Peyush Bansal asked, “What are your sales?” To that, Soorya said that in 2021, Cosmix’s sales were ₹98 lakhs, which increased to ₹2.5 crores the next year.
The following year saw a critical increment, coming to ₹7.5 crores in sales.
As of 2024, they have proactively surpassed ₹10 crores in sales, flaunting an 11% EBITDA, and they aim to end the year totaling ₹27.5 crores.
With a powerful 70% gross margin, Cosmix invests 25% of its net revenue towards marketing costs.
Their sales distribution demonstrates that 50% of the sales come from protein supplements, 15% from My Happy Gut, 10% from What Women Want, 10% from Healthy Hair, and the excess 15% from different items.
Also, 70% of their sales originate from their online store, with the remaining 30% coming from Amazon and other marketplaces.
Namita was the first Shark to offer ₹1 crore for 2% equity. Azhar chose to go out, believing that Namita’s offer was suitable and that he couldn’t add value to the company.
Similarly, Amit also opted out due to concerns about the competitive market cost of the product.
Anupam and Namita gave a combined offer of ₹1 crore for 2% equity along with 1% royalty until ₹2 crores is recouped.
Right after, Peyush offered ₹1 crore for 1% equity and 1% royalty until ₹2 crores is recouped.
The founders decided to stick to the original ask, i.e., ₹1 crore for 1% equity with no royalty. However, Anupam was not interested in investing at such a high valuation, so he left the deal.
After this, Namita reconsidered her offer to ₹1 crore for 1.5% equity and 1% royalty until ₹1 crore is recouped. Peyush also revised his offer to ₹1 crore for 1% equity and 1% royalty until ₹1 crore is recouped.
Once again, the founders countered with ₹1 crore for 1.5% equity without royalty.
Peyush showed a willingness to accept the terms, provided the founders agreed.
However, the founders decided to accept Namita’s offer of ₹1 crore for 1% equity and 1% royalty until ₹1 crore is recouped and sealed the deal.
Conclusion
The vision of Cosmix is to become India’s first, biggest, and most reliable education-first supplement brand.
Cosmix, as a bootstrapped company, has been a profitable brand since its initial stage. Per their Shark Tank India pitch, they had an EBITDA of 11% and a gross margin of 70%.
With the expertise of Namita Thapar, Cosmix will have even greater success in the near future.
