A few interesting brands are introduced in the tenth episode of Shark Tank India season 3. The initial presentation concerned a unique Feni brand that had just been launched six months prior. Yash and Tulika Sawarderkar, a brother and sister duo, are the founders.
Goenchi is an indigenous Feni brand from India. It is breathing new life into the centuries-old practice of Feni distillation, which dates back over 500 years.
Goenchi takes pride in producing the highest-quality feni in the country. Their production is centered on their own farms, where they employ an authentic family recipe and use sustainable practices for the production.
Their products are easily available in more than 100 premium wine stores and retail outlets throughout Goa.
However, this brand created some buzz across the country when it appeared in a Shark Tank India episode, where it even got an investment from a shark.
Goenchi Feni Shark Tank India Season 3 (Episode 10)
|Yash Sawarderkar and Tulika Sawarderkar
|Coconut and Cashew Feni
|10 Lakh per month
|1 Crore for 5% equity
|2 Crore for 15% equity
|Shark Tank India Episode
|Season 3 (Episode 10)
Goenchi Shark Tank India Episode Recap
Yash Pradeep Sawardekar and Tulika Pradeep Sawardekar serve as the co-founders of Goenchi Feni. Their presence on Shark Tank India season 3 provided a platform to showcase and discuss the outlook of their brand.
Their pitch began with a narrative about Goa and its rich cultural heritage. And then the founders introduced Feni, which is a spirited liquor that finds its origins in Goa.
While residing in Mumbai, the founders found themselves presented with an opportunity to embark on this business venture and reconnect with their ancestral roots amid the pandemic.
Yash emphasized to the Sharks that while every country places emphasis on its spirited liquors, in India, such beverages are not as highly esteemed. So, to elevate the value of these traditional spirits, they thought about starting a brand and eventually ended up at Goenchi Feni.
Following the initial pitch, Yash and Tulika proposed a request for INR 1 crore, seeking a 5% equity stake, valuing their business at INR 20 crores.
After this, Goenchi Feni got two investment offers from Deepinder Goyal, and after considering numerous comments from the other sharks, they decided to accept one of the offers.
Goenchi Feni successfully secured a deal with Deepinder Goyal, agreeing to INR 2 crore for a 15% equity share and valuing the company at INR 13.33 crore.
About Goenchi Feni Brand
Operating from their ancestral land near the village in Sanvordem, Goenchi currently has approximately 35–40 individuals indirectly while maintaining a direct team of 4-5 employees.
Yash and Tulika’s parents also contribute to the business, each bringing their distinctive skill sets to enhance the brand.
The brand provides two classic Feni variants: cashew and coconut. You can find their products on the Goenchi website.
Every Goenchi feni bottle showcases portraits of the ‘Rendeirs,’ who skillfully climb coconut palms to extract toddy and distill it for the coconut feni, and also the ‘Cazcar,’ who harvest cashew fruit and distill it to craft cashews feni.
Goenchi’s Cashew Feni presents a delightful blend of tropical flavors, including jackfruit, pineapple, green pepper, and guava cheese. This is crafted from the juice of Goan Cashew apples.
Meanwhile, crafted from fermented coconut flower nectar, Goenchi’s Coconut Feni delivers a palate of coconut water, sea salt, and green chili flavors.
Who are the founders of Goenchi Feni?
Tulika Pradeep Sawardekar and Yash Pradeep Sawardekar are the co-founders of Goenchi Feni. Both founders belong to a reputed family and currently living in Goa, India.
What happened to Goenchi Feni after the Shark Tank?
Goenchi Feni successfully secured a deal with Deepinder Goyal, agreeing to INR 2 crore for a 15% equity share and valuing the company at INR 13.33 crore. And now they have an experienced investor backing them.
However, it’s too early to get an update about that company, but their sales must have increased drastically after the airing of the episode.
Hopefully, Yash and Tulika will create Goenchi a bigger brand after getting the investment and popularity on a successful show.
What Is the Value of Goenchi Feni?
Initially, the co-founders of Goenchi Feni valued their business at 20 crores. But, eventually, Goenchi Feni raised the investment from Shark Tank India at a valuation of Rs 13.33 crore.
Is Goenchi Feni from Shark Tank India profitable?
Yes, Goenchi Feni stands as a lucrative brand in the Feni industry, boasting a monthly revenue of 10 lakhs with an impressive gross margin of approximately 42%.
Even though Goa provides an ideal environment for alcohol distillation and sales, there are still licensing challenges that Goenchi must navigate in order to make their products available beyond the borders of the state.
However, their ambition is to gradually and consistently expand the business, aiming to establish a market for locally produced artisanal feni at a national, and perhaps even global, level.
And they are ever closer to their dreams after they got an investment in Shark Tank India.