Started by a husband and wife duo, Skippi is an ice-pop brand. The founders pitched the company in the fifth episode of Season one of Shark Tank India. While the product was not revolutionary in the normal sense of the word, every single Shark expressed the desire to invest in it.
In this piece, I will walk you through what exactly is Skippi, the Skippi Shark Tank Pitch, and share updates on what happened with Skippi after their Shark Tank Appearance.
Skippi Shark Tank Pitch & Deal ( Skippi Shark Tank Update )
After the husband and wife duo Ravi and Anuja Kabra entered the room, Anuja informed Sharks that Skippi ice pops are made of 100% natural color, natural flavor, and natural preservatives. Since there is a big supply chain problem in supplying refrigerated products in India, the founders removed refrigeration altogether by making Skippi Pops in liquid form. Skippi is also supplied in liquid form at room temperature to retailers and distributors. Customers then take it home and freeze it to enjoy it.
After sharing all this information, Ravi mentioned that they are seeking to raise Rs 45 lakhs in exchange for 5% in the company. When inquired about sales, Ravi informed Skippi ice pops had done sales of Rs 40 lakhs in the last six months. On being asked about prior funding by Namita, Ravi informed that the company was bootstrapped with Rs 55 lakhs in capital invested by the founders themselves.
Anupam then asks the founders about their vision and they inform him that they want to scale the brand nationally and also take it to markets like the middle east and Africa. When probed about how they plan to handle the impending competition, Ravi informs that they have patented their soft ice technology to protect themselves. Vineeta inquires about how much it costs to make a Rs 20 ice pop, Ravi informs her it costs them Rs 5 per piece, which is then sold to the wholesalers for Rs 13.
Anupam immediately offers the two Rs 45 lakhs for 5%. Ashneer and Namita offer 60 lakhs for 5%. Aman, Vineeta, and Anupam come together to offer Rs 60 lakhs for 6%.
Ravi counters by saying why don’t all of the sharks come together since they are all interested. All Sharks agree and offer Rs 1 crores for 15% of the company if they all come in together.
After thinking about it for a while, Ravi and Anuja counter with an offer of Rs 1 crore for 10% or 12% for all of them together. However, the Sharks refuse the counter and stick to their original offer of Rs 1 crore for 15%, and the founders accept it, setting a record for becoming the first brand to get a deal from all Sharks together.
What Happened to Skippi After Shark Tank ( Skippi Shark Tank Update )
After the Shark Tank Episode, Peyush Bansal also joined the deal, bringing the total tally of money invested by Sharks to Rs 1.2 crores. Post the Shark Tank appearance, Skippi sales increased like 40x, as shared by Ashneer Grover who called the company one of the biggest success stories of the show at the time.
After the Shark tank episode, in March 2022, the company claimed sales increased to approximately 2-2.8 crores monthly. After the episode, Skippi was also asked to process 20,000 orders for online platforms and evolved from being a regional manufacturer and distributor to an international exporter.
In August 2022, Skippi also launched skipping freezer bikes wherein ice pops are sold on an electric bike equipped with a freezer. At the time of writing, Skippi is sold in 400-500 outlets in Hyderabad alone, and 10,000+ outlets throughout India with over 200+ super stockists and distributors.