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FOMO Brews Strikes Rs 35 Lakh Deal on 'Shark Tank India' with Aman Gupta and Anupam Mittal

FOMO Brews, the brains behind a guilt-free drink, has made a splash on 'Shark Tank India' season 3 by securing a Rs 35 lakh investment from Aman Gupta and Anupam Mittal. The innovative beverage, pitched by young entrepreneurs Avik Chaudhery and Gaurang Gadia, caught the attention of investors with its unique concept and impressive growth trajectory.

 

Avik Chaudhery, enrolled in an executive MBA program at Stoa, Bengaluru, and Gaurang Gadia, a 21-year-old pursuing a Masters of Business Laws at National Law University, Bengaluru, founded FOMO during their college days. The pair identified a gap in the market for freshly brewed iced teas devoid of refined sugar, preservatives, or concentrates. Their product, available in various establishments such as restaurants, corporate offices, marketplaces, and embassies, has garnered significant interest for its health-conscious approach.

 

During their 'Shark Tank India' pitch, Avik and Gaurang shared their journey from recognizing the market need to launching their product. They emphasized their commitment to offering a healthier alternative amid the COVID-19 pandemic, where consumers are increasingly mindful of their choices. By sweetening their iced teas with honey and Khaand, they aimed to provide a refreshing beverage with added health benefits.

 

Responding to the investor panel's queries, Gaurang disclosed the company's impressive sales figures from the last seven months of 2023, showcasing consistent growth and consumer demand for their product. With monthly sales ranging from Rs 2.7 lakh to Rs 4.4 lakh during this period, FOMO Brews demonstrated its potential to capture a significant market share.

Ultimately, Aman Gupta and Anupam Mittal sealed the deal with FOMO Brews, offering Rs 35 lakh for a 6 percent equity stake in the company. The investment not only provides financial support but also opens avenues for valuable mentorship and strategic guidance from seasoned industry leaders.

Impressed by Avik and Gaurang's entrepreneurial spirit and dedication, the investors expressed confidence in the duo's ability to scale the business. Anupam Mittal commended their openness to feedback and highlighted their potential for growth and adaptability in the competitive market.


 

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