SoupX is a healthy soup delivery startup. It is India’s No 1 healthy soup-based goods brand providing an affordable healthy, soup, salad, sandwich and smoothie. All the healthy foods of this brand are full of fresh and nutrition.
This brand was launched in 2021 by Uttam Kumar and Priyank Jain in Gurugram, Haryana, India to deliver a healthy & fresh soup etc.
All their healthy foods are full of nutrition and their calories are counted by expert nutritionists. To be in good health, we need to be 80% diet and 20% exercise, say some experts.
Uttam Kumar and Priyank Jain appeared in Shark Tank India Season 2 Episode 2 with SoupX brand and asked for ₹75 lakhs for 6% equity at a ₹12.5 Crore Valuation. Within 2 years, the valuation of this company has grown very fast.
What Is SoupX?
SoupX is India’s 1st healthy soup based food brand and they have 99 + varieties of soups which are prepared by expert nutritionists. Apart from health and fresh soups, it also delivers salads, sandwiches and smoothies.
Weight loss, muscle gain, diabetic, wellness, etc. can be reduced through these healthy diets. It takes care of Low Carb, High Protein, Detox, General Wellness, Vegan, Keto-friendly etc before making healthy soup and other things.
The brand delivers a variety of soups such as Oats And Roasted Red Pepper Soup, Hearty Lentil Soup, Smoked Chicken Soup and many more. The price of these soups is ₹189, ₹169 and ₹229.
This business works on both on-demand order and subscription model. The claim of the brand is that it gives guaranteed faster delivery.
|Founder||Uttam Kumar and Priyank Jain|
|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|
|Episode (Shark Tank India)||S2 E2|
|Air Date||Jan 3, 2023|
|Business Status||In Business|
|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 & Priyank Jain are the co-founders of SoupX Health Foods brand. Together these two started this company in 2021.
Uttam is a Mechanical Engineer and has done his studies from Indian Institute of Information Technology. In 2018, he launched his first startup FRATO – Timeless Interiors and had to close it within a year.
In 2019, he launched a startup named Hostcontry and that too had to be closed. This is Uttam’s 3rd startup SoupX-Sip of Health and it was launched in December 2021.
Priyank is a software engineer and has done MBA from Indian Institute of Foreign Trade. He did internship for many months in nearbuy, Deloitte, Goldman Sachs company.
He has also worked as a Corporate Treasury Analyst in Goldman Sachs for 2 years.
How Was The Shark Tank India Pitch Of SoupX?
Uttam Kumar and Priyank Jain entered Shark Tank India and demanded ₹75 lakhs from the sharks for 6% equity. These two co-founders explained their business to Shark and tried to convince him to invest.
This business idea came to mind when they participated in food distribution during the Covid-19 pandemic and made immunity booster soup. After this, many people got response for their immunity booster soup to be distributed again.
The Umminitya Booster Soup was prepared using Ashwagandha and some herbal ingredients. They did research for 3 months and this SoupX was launched.
Aman Gupta did not like the Chicken Soup. Anupam Mittal said that he has done a lot of research about these things and it is all nonsense. Vineeta Singh said that she has to see the nutritional value of the product but Priyank could not understand it properly.
Anupam Mittal said that you cannot be in the health business without knowing the fundamentals, that’s why he is out.
In August 2022, their sales were ₹8 lakhs, in July their sales were ₹7 lakhs and in June their sales were up to ₹6 lakhs.
In this, their gross margin comes from 70% to 75%, after integrating with third party food platform (like Zomato, Swiggy and many more), the gross margin comes up to 45%.
Their EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) is currently running in nagative, they are burning ₹1 to ₹1.5 lakh cash every month.
Peyush Bansal said that he cannot add value to it, so he is out. Aman Gupta said that he did not like the taste of the soup and he is afraid of Burn business, so he is out. Namita Thapar said that as a founder, there should be product knowledge, but now she is out.
85% of their sales comes from Swiggy and Zomato and 15% comes from sales subscription and co-branding. Vineeta Singh made an offer of ₹50 lakh for 20% equity + ₹25 Lakhs Debt @ 12% intrest at a ₹2.5 Crores Valuation.
The co-founder countered ₹50 lakhs for 18% equity + ₹25 Lakhs Debt @ 12% intrest at a ₹2.78 Crores Valuation. Vineeta agreed to the CO-founder’s counteroffer.
Finalize: Vineeta Singh invested ₹50 Lakhs in “SoupX” for 18% equity + ₹25 Lakhs Debt @ 12% Intrest rate.
What Happened To SoupX After Shark Tank?
All the sharks refused to invest in the SoupX business except Vineeta. Vineeta Singh invested in this health business and will try to grow the business through marketing.
As of January 2023, this company is providing its service in Delhi-NCR and is going to expand its service in other states in future.
The brand has 231k followers on its Instagram account but the engagement is not that great.
People had shared their option regarding this business idea on the social media platform Twitter.
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
Most people say that without Ashneer Grover, Shark Tank India Season 2 is not looking interesting. Everyone is missing Ashneer in this season 2.
SoupX Shark Tank India Update
SoupX got a deal on Shark Tank India. Vineeta invested in this business and put a condition that the co-founder has to do this business full time.
This company has sold a total of ₹21 lakhs in the 3 months of June, July and August 2022 and has a gross margin of ₹9.45 lakhs. The CO-founder said that they would become profitable within a few months.
We’re following Uttam Kumar and Priyank Jain along with their company for further updates.
What Is SoupX Net Worth?
SoupX is worth 2.78 Crores. The valuation of this company in Shark Tank India was ₹12.5 crores according to the previous investor. This company was successful in raising investment within almost 2 years.
Indian soup market value was $310 million as of 2020 and an estimated 10% of it is healthy soup. Healthy soup industry can become a huge industry in the coming times. In the present time, there is no such big player in this industry.
Is SoupX Still In Business?
This brand delivers 99+ variety soups and other foods and these foods are completely fresh and full of nutrition.
Currently this brand is working in Delhi-NCR and most revenue comes from third party food delivery platform Zomato and Swiggy.
Food and Beverage Services company is headquartered in Gurugram, Haryana, India and employs 2 to 10 people.
Yes, SoupX is still in business as of January 2023.
frequently asked questions
Who founded SoupX?
SoupX Founded by Uttam Kumar and Priyank Jain in December 2021.
Where is the headquarter of SoupX?
SoupX is headquartered in Gurugram, Haryana, India.