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Organic Tea Business In India (Case Study)
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Entrepreneur Name – Ishaan Kanoria & Sparsh Agarwal
About the Entrepreneur – Dorje teas was founded by Sparsh Agarwal and Ishan Kanoria, who were childhood friends raised in Calcutta. While Sparsh originates from Darjeeling, Ishan comes from Calcutta.
LinkedIn Profile- https://www.linkedin.com/in/ishaan-kanoria-744501144/
| Brand Name– | Dorje Teas |
| Brand Website- | https://dorjeteas.com/ |
| Business Category– | Tea Leaves |
| Company Valuation– | ₹2 Crores |
| Equity Asked– | ₹30 Lakhs for 5% Equity |
| Deal Closed– | Yes |
| Final Shark Tank Deal– | ₹30 Lakhs for 15% Equity |
| Target City/Country- | India |
| Total Addressable Market- | US$ 687.9 million In the year 2021 |
| Product/Services– | Organic Tea |
About the Product – The tea product is certified and originates from Selim Hill tea garden. It goes by the name of “first flush” or “spring harvest” as the tea leaves are plucked during the spring when the tea bushes are in bloom.
During the “second flush” or “summer harvest,” an insect causes oxidation in the leaves, resulting in a Kasturi fragrance.
The “third flush” or “monsoon harvest” is the least preferred, as it produces a smoky flavor. All three flushes are plucked, packed, and dispatched from Selim Hill tea garden.
Conclusion –
Ishaan Kanoria & Sparsh Agarwal asked for ₹30 Lakhs for 5% Equity Initially, Vinita proposed an offer of 30 lacs to obtain a 10% equity stake in the company, which was valued at ₹3 crores. Later, Vinita, along with Piyush and Anupam, offered ₹30 lacs for a 15% equity stake, with the company being valued at ₹2 crores.
The founders ultimately accepted the offer made by Piyush, Vinita, and Anupam, agreeing to exchange 15% equity for ₹30 lacs.
