Udaipur-based Tribalveda, a company specializing in products made from seasonal fruits like custard apple, made a remarkable appearance on Shark Tank India Season 4, Episode 42.
Founded by husband-wife duo Rajesh Ojha and Pooja Ojha, Tribalveda is committed to empowering tribal women by sourcing and processing natural fruit-based products.
The brand focuses on 100% pure jamun-based offerings, including strips, cubes, flakes, and jams.
The founders entered the Shark Tank seeking an investment of ₹50 lakhs for a 2% equity stake, valuing the company at ₹25 crore.
Their pitch emphasized purity, sustainability, and social impact, capturing the Sharks’ interest.
During the presentation, the nostalgic flavors struck a chord with the Sharks. Namita Thapar fondly recalled eating jamun as a child, as her grandmother had a jamun tree at home.
Vineeta Singh praised the jamun shot, sharing her positive feedback, while Ritesh Agarwal expressed how the taste rekindled childhood memories for him.
The founders revealed that their primary customer base consists of individuals over 35 who purchase their products for health benefits.
Approximately 40% of their total sales come from Mumbai, with an additional 20% from Bengaluru. Their revenue is generated through online marketplaces, events, farmers’ markets, and their official website, with their website contributing a significant 70% of sales.
The company currently maintains a gross margin of around 45% in B2B sales.
While the Sharks appreciated Tribalveda’s vision, Namita Thapar, Vineeta Singh, Anupam Mittal, and Kunal Bahl opted out due to scalability challenges.
However, Ritesh Agarwal recognized the business’s potential and expressed his confidence, stating, “I will bet on you.”
After an engaging negotiation, Tribalveda secured a deal with Ritesh Agarwal, who invested ₹50 lakhs for 2.8% equity along with 2.2% advisory equity, bringing the company’s valuation to ₹17.86 crore.
