Clean-label ready-to-cook food startup CurryIT featured on Shark Tank India, where founders Nischal Kandula and Richa Sharma pitched their vision of building a health-first Indian cooking brand focused on convenience, taste, and trust.
During the pitch, the founders shared that CurryIT operates in the packaged food and quick commerce space, targeting everyday Indian households. The brand offers curry and biryani pastes, soups, dals, and daily cooking pastes, made with no dehydrated ingredients, no preservatives, and no additives, while maintaining a one-year shelf life.
CurryIT highlighted its focus on quick commerce, which contributes nearly 90% of its total sales. The company follows a refill-friendly packaging approach and is priced at a 15–20% premium compared to incumbent brands, supported by a trade margin of around 35%.
Entering the Tank, the founders sought ₹60 lakh for 1% equity, valuing the company at ₹60 crore.
On the financial front, the company reported ₹54 lakh in gross sales and ₹41 lakh in net sales in FY22–23. This grew to ₹98 lakh in gross sales and ₹89 lakh in net sales in FY23–24. In FY24–25, CurryIT scaled significantly, recording ₹5.7 crore in gross sales and ₹3.3 crore in net sales. Year-to-date revenue stands at ₹4.8 crore gross and ₹2.8 crore net. EBITDA remains negative, with losses of ₹2.3 crore in FY24–25, though the founders expect EBITDA to turn positive by January 2027.
The startup shared key unit economics, including 24% cost of goods sold, 7% taxes, 4% shipping, 15% marketplace fees, 15% discounts, and close to 30% spent on marketing and operations. The company currently operates at a 34% gross margin, with a customer acquisition cost of ₹88 as of April 2024.
After negotiations, Mohit Yadav closed the deal by investing ₹1.5 crore for 4.5% equity, revising CurryIT’s valuation to ₹45 crore.
The founders shared that the capital raised will be used to strengthen brand positioning, expand quick commerce distribution, and drive trust-led growth through content, as CurryIT aims to become a daily cooking staple in Indian kitchens.
