SoupX is India’s first healthy soup-based food brand, offering over 99 varieties of soups crafted by expert nutritionists. In addition to their fresh and nutritious soups, they also deliver salads, sandwiches, and smoothies.
Their offerings cater to various dietary needs, including weight loss, muscle gain, diabetes management, and general wellness. SoupX focuses on key nutritional categories such as low-carb, high-protein, detox, vegan, and keto-friendly options.
Some of the soups available include Oats and Roasted Red Pepper Soup, Hearty Lentil Soup, and Smoked Chicken Soup, with prices ranging from ₹169 to ₹229.
The business operates on both an on-demand ordering and subscription model, claiming guaranteed faster delivery.
| Company Name | SoupX |
| Founder | Uttam Kumar and Priyank Jain |
| Founded | 2021 |
| Business | India’s 1st Healthy Soup-Based Meal Brand |
| Asked For | ₹75 Lakhs for 6% equity |
| Final Deal | ₹50 Lakhs for 18% equity + ₹25 Lakhs Debt @ 12% Intrest |
| Shark | Vineeta Singh |
| Episode (Shark Tank India) | S2 E2 |
| Air Date | Jan 3, 2023 |
| Business Status | In Business |
| Website | Visit Now |
| Headquarters | Gurugram, Haryana, India |
| Lifetime Worth (Sales) | ₹1 Crores *estimated |
| Go To Amazon | Buy Now |
| Watch On | Amazon Prime |
Another Shark Tank India Pitch
Who Is The Founder Of SoupX?
Uttam Kumar and Priyank Jain are the co-founders of SoupX Health Foods, which they established in 2021.
Uttam Kumar
Uttam is a Mechanical Engineer who studied at the Indian Institute of Information Technology. In 2018, he launched his first startup, FRATO – Timeless Interiors, but had to close it within a year.
He then started another venture, Hostcontry, in 2019, which also faced closure. SoupX, his third startup, known as Sip of Health, was launched in December 2021.
Priyank Jain
Priyank is a Software Engineer and holds an MBA from the Indian Institute of Foreign Trade.
How Was The Shark Tank India Pitch Of SoupX?
Uttam Kumar and Priyank Jain entered Shark Tank India seeking ₹75 lakhs for 6% equity in their startup, SoupX. The co-founders presented their business model to the sharks, sharing that their idea originated during the COVID-19 pandemic when they distributed immunity-boosting soups.
The popular Immunity Booster Soup was crafted using Ashwagandha and other herbal ingredients, leading to significant interest from consumers.
However, the pitch faced criticism: Aman Gupta expressed dissatisfaction with the Chicken Soup, while Anupam Mittal dismissed the concept as lacking scientific basis, emphasizing the importance of fundamental knowledge in the health industry.
Vineeta Singh requested to see the nutritional values of the product, but Priyank struggled to provide the necessary information, further raising concerns about their expertise.
As for their financials, SoupX reported sales of ₹6 lakhs in June 2022, ₹7 lakhs in July, and ₹8 lakhs in August. Their gross margin ranges from 70% to 75%, but after partnering with third-party food delivery platforms like Zomato and Swiggy, the gross margin drops to 45%.
Currently, their EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) is negative, with a monthly cash burn of ₹1 to ₹1.5 lakhs.
Peyush Bansal decided not to invest, stating he couldn’t add value to the business. Aman Gupta also withdrew, citing his dislike for the soup’s taste. Namita Thapar echoed similar sentiments, highlighting the need for product knowledge in a founder.
Ultimately, 85% of their sales come from Swiggy and Zomato, while 15% is derived from subscription and co-branding efforts. Vineeta Singh made an initial offer of ₹50 lakhs for 20% equity, along with ₹25 lakhs in debt at 12% interest, valuing the company at ₹2.5 crores.
The co-founders countered with a request for ₹50 lakhs for 18% equity and the same debt terms, but with a valuation of ₹2.78 crores. Vineeta accepted the counteroffer.
Finalize: Vineeta Singh invested ₹50 Lakhs in “SoupX” for 18% equity + ₹25 Lakhs Debt @ 12% interest rate.
SoupX Shark Tank India Update
All the sharks, except Vineeta Singh, declined to invest in SoupX. Vineeta recognized the potential of this health-focused business and committed to helping it grow through strategic marketing efforts.
As of January 2023, SoupX is operational in the Delhi-NCR region and plans to expand its services to other states in the future. The brand boasts 231k followers on Instagram, although engagement levels are relatively low.
Just saw Shark Tank S2 E2 and the SoupX guys. I realized that @Ashneer_Grover is the major missing in the show because he would never let anyone invest in such a shameful idea.
@viquarhunani
Just saw Shark Tank S2 E2 and the SoupX guys. I realized that
@Ashneer_Grover is the major missing in the show because he would never let anyone invest in such a shameful idea.
@preet_hindocha
Feedback regarding the show has been prominent on social media platforms like Twitter, with many viewers expressing that Shark Tank India Season 2 feels less engaging without Ashneer Grover, who is notably missed.
During the pitch, SoupX secured a deal with Vineeta, who stipulated that the co-founders must commit to running the business full-time. The company reported total sales of ₹21 lakhs over the three months of June, July, and August 2022, achieving a gross margin of ₹9.45 lakhs. The co-founders expressed confidence in becoming profitable within a few months.
We will continue to follow Uttam Kumar and Priyank Jain for further updates on their journey with SoupX.
What Is SoupX Net Worth?
SoupX is currently valued at ₹2.78 crores. During its appearance on Shark Tank India, the company’s valuation was reported at ₹12.5 crores, according to a previous investor. Remarkably, SoupX successfully raised investment within nearly two years of its establishment.
