[Funding Alert] Blue Tea Bags $7.5 mn at Shark Tank India, Despite Being Reprimanded by Sharks
[Funding Alert] Blue Tea Bags $7.5 mn at Shark Tank India, Despite Being Reprimanded by Sharks

BlueTea is a company envisioned to bring back ancient Indian Ayurveda-based flower teas to the world by showcasing convenience to consumers. The company recently featured on Shark Tank India and garnered a Rs 7.5 million investment from Shark Aman Gupta, Co-Founder-CMO, boAt. 

Incepted in 2018, BlueTea aims to revolutionize the notions of tea-consumption habits worldwide while making ground for its own specialty. Entailing 0 percent caffeine, it strives to garner a benchmark higher than Green Teas as BlueTea is herbal in its truest form. 

BlueTea is made using flowers that do not contain caffeine in contrast with green teas which are made with tea leaves. It aims to demolish the notion of slimming which is pioneered by green teas but has rather only supplied a bitter taste and zero effective slimming results down the years.

On the show, the brand was reprimanded by Anupam Mittal, Founder, and CEO of Shaadi.com – People Group, however, the brand was able to secure a deal with Aman Gupta.

The founders originally made an ask of Rs 75 lakh for 1 percent equity of the company at the valuation of Rs 75 crore. Gupta offered Rs 15 lakh for 5 percent equity and 60 lakhs debt at 12 percent interest while pitchers countered, Rs 50 lakh for 2 percent equity and 25 lakhs debt at 12 percent interest. The brand was able to successfully finalize a deal with Aman at Rs 50 lakh for 3 percent equity and Rs 25 lakh debt at 12 percent interest.

“It was an enriching experience to be on Shark Tank India. We feel extremely delighted to have had the opportunity to be funded by Shark - Aman Gupta. We envision a bright future for BlueTea where we aim to revolutionize tea-consumption habits worldwide. BlueTea is envisioned to bring back the lost thousand years of glory - the ancient ayurvedic flower teas to your doorstep,” said Sunil Saha, Co-founder, BlueTea.

The brand enjoys a global expansion of supplying and distributing teas to about 12 countries including the USA, UK, Canada, Germany, Australia, and France. 

Nitesh Singh, Co-founder, BlueTea added, “BlueTea is a tea brand which is providing convenience to the consumers as they enjoy flower teas; teas which are truly herbal in their essence. Shark Tank was a great opportunity for the brand and we will ensure to leverage the plethora of opportunities that it has opened for us. We are hopeful to make a 5X turnover in FY 2023 and there will be no stopping going forward.”

While the company started with an initial turnover of Rs 25 lakh in 2018 and closed with a massive turnover of Rs 10 crore in FY 2022. The company has grown by 50X in 3 years and further aims to achieve a turnover of Rs 25 crore this year with maximum sales coming from USA and India.

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