Entrepreneur Name – Nitesh Singh and Sunil Chandra Saha
About the Entrepreneur – Nitesh Singh, the COO, holds an MBA in rural management, and his colleague, Sunil Chandra Saha, the CEO, is an MBA graduate in marketing from Pune, hailing from Kolkata and Ahmedabad, respectively.
Together, they founded their venture in 2018 after discovering pink tea in a magazine six years earlier.
Through research, they learned that pink tea is a traditional beverage in Malaysia and Thailand, which inspired them to start producing their own.
LinkedIn Profile –
| Nitesh Singh | https://www.linkedin.com/in/nitesh-singh-182020220/ |
| Sunil Chandra Saha | https://www.linkedin.com/in/sunilchandrasaha/ |
| Brand Name | Blue Tea |
| Brand Website | https://bluetea.co.in/ |
| Business Category | Food and Beverage |
Innovation – No
| Company Valuation | ₹16.67 Crore |
| Equity Asked | ₹75 Lakhs for 1% Equity |
| Deal Closed | Yes |
| Final Shark Tank Deal | ₹50 Lakhs for 3% Equity & ₹25 Lakhs Debt |
| Target City/Country | India, UK, US, Australia, Germany and 6 more countries of European Union |
| Total Addressable Market | US$963.60bn |
| Product | Herbal Tea |
About the Product;- Green tea is recommended for various health benefits such as burning fat, reducing stress, and improving skin health. However, its bitter taste may not be appealing to everyone.
To address this, a herbal tea brand called Blue Tea was created using an ancient formula from the shankhpushpi flower.
This brand is known for producing the world’s first blue-colored ayurvedic tea that is caffeine-free, full of antioxidants, and soothing without any bitterness.
Blue Tea has become popular in India and is now available in around 12 other countries worldwide through online sales. Their goal is to become the number one blue tea brand globally. They offer 50 different flavors in India and 35 in the US, with a 4.3-star rating and 8500 reviews.
The US is currently the brand’s largest market, accounting for 60% of sales. Blue Tea is priced at 800 rupees per 100 gm, which is more expensive than green tea (200 rupees) and regular tea (100 rupees).
Conclusion;–
Nitesh and Sunil asked ₹75 Lakhs for 1% Equity, Shark Aman Gupta Offered ₹50 Lakhs for 3% Equity & ₹25 Lakhs Debt. It concluded in a successful deal.
Blue Tea Shark Tank India Review