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Entrepreneur presenting Tiggle brand on Shark Tank India

Tiggle: A Sweet Journey from Delhi Metro to Shark Tank India

Explore the journey of Anuva Kakkar, the founder of Tiggle, a cocoa-based brand that crafts ready-to-make chocolate mixes. From selling hot chocolate on Delhi metro platforms to pitching on Shark Tank India, discover the unique products of Tiggle and the intriguing story behind its success.

From the Episode 8 of Shark Tank India,

Anuva Kakkar, Founder of Tiggle featured in Episode 8 of Shark Tank India, Season 3. She was also the first guest on Foodyaari’s “Stories of Foodpreneurs”, a webinar series featuring various Food Entrepreneurs of the country.

Tiggle is a cocoa-based brand that crafts ready–to–make chocolate mixes. It was founded by Anuva Kakkar in April 2021. Tiggle was started by Anuva selling hot chocolate on the platforms of the Delhi metro. She started this business after she graduated with an initial investment of Rs.20,000. Tiggle has a variety of chocolate mixes from dark hot chocolates suited to the chilly weather and iced chocolate to refresh during summers.

Anuva’s Shark Tank pitch started with a captivating description of her journey building the brand. The judges praised the product’s packaging and taste and were particularly intrigued by the single-serve packs. Anuva then showcased her product’s unique selling proposition through an experiment she conducted before launch. She sent three samples (A, B, and C) to a group of people, where A and B were different formulations of her dark hot chocolate and C was a sample from another brand. Interestingly, everyone chose either sample A or B, highlighting the distinct taste and appeal of her product.

Tiggle offers Dark hot chocolate, Iced chocolates, and Light hot chocolates in single-serve units and 10 cups pack. The product’s sweetness is contributed by jaggery. It is vegan and Dairy-free. The cocoa is procured from the farmers in Tamil Nadu and is processed in the unit in Agra. Products are available at their website: thetiggle.com and from Amazon.

Pie chart illustrating the equity split of Tiggle, with the majority held by Anuva Kakkar, and smaller portions allocated to Advisors and Anuva’s Mother.” This description provides context to visually impaired readers about the content of the image.

When questioned about the market size, Anuva confidently explained that the Indian chocolate market stands at a massive Rs.20,000 crore, with chocolate drinks holding a 10-15% share. This translates to a potential market value of Rs.2,000-3,000 crore specifically for cocoa-based beverages, highlighting a significant opportunity for Tiggle.

Facing queries about competitors offering lower prices (Rs.18-19 per serving) compared to Tiggle’s Rs.35-55, Anuva remained poised. She emphasized Tiggle’s unique selling points: being dairy-free, vegan, and crafted with premium cocoa. These differentiators, along with higher-quality ingredients, justified the price difference.

Further demonstrating her understanding of the business, Anuva delved into unit economics. With an average selling price of Rs.308 (including GST), she broke down the costs: Rs.10 for packaging, Rs.64 for raw materials, and Rs.32 for shipping, leaving a gross profit of Rs.202. Factoring in marketing, salaries, rent, and other expenses, she still ended with a positive Rs.19 EBITDA (Earnings before Interest, Taxes, Depreciation, and Amortization), showcasing the profitability of the brand.

Donut chart visualizing the breakdown of unit economics totaling Rs.308 for Tiggle, with various expenses like packaging, raw materials, shipping, marketing, salaries, rent, other expenses and EBITDA represented in different colors.

Anuva initially asked for Rs. 50 lakhs for 5% equity. Namita Thapar, Executive Director of Emcure Pharmaceuticals backed out by stating it is a small market and it is really hard to push the business forward.

EntrepreneurBusinessIndustryAsked forFinal dealInvestor
Anuva KakkarTiggleCocoa-based beveragesRs. 50 lakhs for 5% EquityRs. 50 lakhs for 20% equity + 2% royalty until 1 crore is recouped.Amit Jain
and Piyush Bansal

Azhar Iqubal, Co-Founder and CEO of Inshorts, backed out by stating there is no definite brand establishment and the return customers rate is too low.

Amit Jain, Co-Founder and CEO of CarDekho group offered Rs.20 lakhs for 5% equity + 30 lakhs debt at 15% interest for 3 years.

Anupam Mittal, Founder of People Group – Shaadi.com also backs out. Peyush Bansal, Co-Founder and CEO of Lenskart offered Rs. 50 lakhs for 20% equity + 1% royalty until 1 crore is recouped. Amit joins the offer and it is revised to Rs. 50 lakhs for 20% equity + 2% royalty until 1 crore is recouped.

Upon careful consideration, Anuva closed the deal with Rs. 50 lakhs for 20% equity + 2% royalty until 1 crore is recouped. Anuva wants Tiggle to be a brand that crafts magic that helps adults sit back and enjoy their leisure time. With such entrepreneurship and passion for her business, Tiggle will touch millions of hearts.

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