The start-up received offers from 4 out of 5 sharks owing to its unique proposition and robust financials
Zone Of Fresh Food aka ZOFF has raised Rs 1 crore in funding in the 28th episode of Shark Tank India Season 2. The start-up has received funding from boAt’s co-founder and chief marketing officer (CMO), Aman Gupta against the equity of 1.25 per cent.
The brand caught the attention of four out of the five sharks on the show and received individual offers from Vineeta Singh, chief executive officer (CEO), SUGAR Cosmetics, Aman Gupta, CEO and co-founder of CarDekho, Amit Jain and Anupam Mittal, founder of People Group.
The bootstrapped business has raised money at a valuation of Rs 80 crore.
Founded in 2018, ZOFF was founded by brothers Akash and Ashish Agarwal. The five-year-old start-up is a pioneer in the utilisation of cool grinding technology, Air Classifying Mills (ACMs). It is a fully mechanised automated production plant that maintains the purity, oil, aroma and pungency of the spices. In order to deliver them in the purest form possible after grinding and retaining all their properties until consumption, ZOFF has also introduced a 'zip lock packaging' with four layers, which keeps the spices fresh and resists the external temperature.
“To better penetrate the Indian food industry, we will also diversify our product offering as we go along, though our core focus will remain on providing our customers with spices in their best form, in terms of both flavour and nutrients,” said Akash Agrawal, co-founder, ZOFF.
“We intend to maintain our omnichannel strategy going forward as well so that we continue to establish our footprint across markets using both digital and physical mediums,” added Ashish Agrawal, co-founder of ZOFF.
In their pitch on Shark Tank India, the founders of ZOFF highlighted the positive unit economics of their business as well as their vision for the company’s future growth. They also showcased the growing demand for the Indian spice market and their innovations in the field. ZOFF has so far served over one million happy customers and is also accessible on leading e-commerce platforms including Amazon, Flipkart, Jio Mart, Zepto, CRED, and Big Basket.