Shark Tank India judge and boAT co-founder Aman Gupta has called his investment in snack brand Let’s Try the “best in the history" of the business reality show, revealing that his Rs 12 lakh bet has now grown into a Rs 40 crore opportunity.
Gupta opened up about his Season 1 investment experience on Republic World and said, “In the last five years, the best company has been Let’s Try. I invested in them in season one. Nobody else invested with me. They make chips, bhujia. All the Excel sheet investors said it can’t make it."
He added that his Rs 12 lakh investment for about 7-8 percent equity has now translated into a purchase offer worth Rs 40 crore. “It is the best investment in the history of Shark Tank India,” he added.
Gupta saw potential in the brand when others didn't
The founders of Let’s Try, led by Nitin Vinod Kalra, pitched their healthy snack brand on Shark Tank India when it was just six to seven months old. Despite skepticism from other Sharks, Gupta saw potential. “Bande mein dam tha. I knew he will do something. He had that aag (fire),” Gupta said.
At the time, the company had earned Rs 16 lakh in five months and sought Rs 45 lakh for 2 percent equity. While fellow Shark Tank India judges Namita Thapar and Ashneer Grover opted out, citing concerns over fried products, Gupta and Anupam Mittal initially agreed to invest Rs 45 lakh for 12 percent equity. But, after due diligence, Anupam exited, leaving Gupta as the sole investor.
50x jump in valuation
Let’s Try’s valuation has soared from Rs 3.75 crore during its Shark Tank India pitch to Rs 324 crore today — a 50x increase. Gupta’s early bet on the brand, which positioned itself as a healthier alternative despite being priced 15 percent higher than competitors like Haldiram’s, has paid off handsomely.
“Everybody said there are so many big companies in this sector, how big a company can you make?" Gupta said, recalling the brand's pitch from Season 1. "But the founder proved them wrong."
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