: Rs 11 Lakh Loss To Rs 10 Million Deal on Shark Tank: Story of Skippi Ice Pops #IndiaNEWS #Entrepreneurs Late last month, Skippi Ice Pops scripted history on Shark Tank India when it received a funding

Rs 11 Lakh Loss To Rs 10 Million Deal on Shark Tank: Story of Skippi Ice Pops #IndiaNEWS #Entrepreneurs
Late last month, Skippi Ice Pops scripted history on Shark Tank India when it received a funding of Rs 10 million. The brand founders – Ravi and Anuja Kabra – were the first to receive an ‘All Shark Deal; all five investors came together and offered the brand a cumulative deal.
An Indian franchise of the American Shark Tank, the show is a platform for entrepreneurs to pitch their business models to a panel of investors (‘sharks’), who then decide whether to invest in the company. It made its debut in India in December last year.
“The sheer drive, passion and sincerity of Ravi and Anuja impressed me the most. It was also the fact that the Skippi Ice Pops didn’t need a cold chain and could be carried at room temperature,�? Namita Thapar, founder of Emcure Pharmaceuticals Ltd, who is an investor, tells The Better India.
Anuja and Ravi with Shark Tank panelists
Also part of the deal was Lenskart owner Peyush Bansal, who was so impressed by Ravi and Anuja’s model that he came on board as the sixth investor after the show.
It was only a year ago that the duo had suffered a tremendous loss of Rs 11 lakh due to the pandemic-induced lockdown. After investing nearly Rs 55 lakh, they were forced to discontinue their operations even before their product, ice popsicles, could get a stronghold in the market.
So how did they manage to increase their sales, while also impressing the panelists?
“A combination of factors were at play. We are offering a product that has no competitors as of now, and our manufacturing technology is patented. Plus, the nostalgia factor played a vital role,�? Ravi tells The Better India.
Starting with losses
Both Ravi and Anuja have over a decade of experience in the FMCG sector in India as well as Australia. While Ravi has a diploma in Business Management, Anuja has done her MBA in Human Resources.
After working in different companies, the duo decided to start something of their own and returned to India in February 2020. “We already had ice popsicles in mind when we decided to take a leap in our respective careers,�? Anuja says.
She adds, “One time, while my sister was travelling from Australia to India, she packed ice popsicles to bring them back with her. That’s when we realised the gap in the market and the high nostalgia value the product carries. After rigorous research, we found that parents need a trustworthy brand, considering ice popsicles are categorised into treats. As parents of two children, we decided to launch Skippi without artificial flavours in March 2020,�? says Anuja.
The manufacturing unit was set up, and six flavours including mango, orange, raspberry, cola and lemon were introduced.

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