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Green Snack Co is a startup founded by Chetan Sharda and Jasmine Kaur. Jasmine, the CEO of the company, graduated from Delhi University and pursued her MBA from LBSIM School in Delhi. She previously worked in private banking at HDFC Bank and at Manico before starting Green Snack Co. Chetan, the COO of the company, completed his schooling and college in Delhi before obtaining his MBA from Symbiosis. He worked in real estate for eight years before co-founding Green Snack Co with Jasmine.
The company's mission is to provide a healthier snacking option to consumers who are looking to change their lifestyle. Their snacks are made from healthier ingredients with no MSG, preservatives, and less oil and spices. The startup has more than 10 lakhs customers and was available in 30 cities in India and five export markets before the pandemic. However, as more than 90% of their business comes from offline, the pandemic severely affected their business. Despite this, the startup was able to bounce back and make a strong comeback.
The aim of Green Snack Co is to provide consumers with healthier snacking options that promote a healthier lifestyle. The founders, Jasmine Kaur and Chetan Sharda, recognized the need for such options in the market, especially for those who face challenges in maintaining a healthy weight due to cultural and societal factors.
The company's products are made from healthier ingredients, contain no MSG or preservatives, and are made with less oil and spices. These options provide an alternative to the traditional unhealthy snacks that are often consumed in between meals. Green Snack Co aims to provide customers with guilt-free snacking options that not only satisfy their cravings but also contribute to a healthier lifestyle.
In addition, the company aims to reach out to all those individuals who are health-conscious and looking for healthier snacking options. The company's products are available in multiple cities in India and export markets, and they aim to expand their reach even further. Their best-selling product, the Fiery Spice Quinoa Puff, is an example of their commitment to providing healthier options to consumers.
The unique selling proposition (USP) of Green Snack Co lies in its commitment to providing healthier snacking options to consumers. The startup offers a range of snacks made from healthier ingredients with no MSG or preservatives and less oil and spices. This USP sets Green Snack Co apart from traditional snack brands that often use unhealthy ingredients and additives.
Another aspect of the company's USP is its focus on providing guilt-free snacking options to customers. Many people struggle with maintaining a healthy weight due to unhealthy snacking habits, and Green Snack Co aims to provide an alternative that satisfies cravings without the negative health consequences.
The startup's Fiery Spice Quinoa Puff is a best-selling product that exemplifies their USP. It is a tasty and satisfying snack made from quinoa, a nutrient-dense ingredient that is high in protein and fiber, and other natural ingredients. This snack not only tastes good but also contributes to a healthier lifestyle, making it a unique and attractive option for health-conscious consumers.
The business model of Green Snack Co is primarily focused on providing healthier snacking options to consumers through a combination of offline and online sales channels. The startup has a presence in multiple cities in India and five export markets. They distribute their products through traditional retail stores and online marketplaces, such as Amazon, Flipkart, and their own website.
Green Snack Co's products are priced competitively, with a focus on affordability, making them accessible to a wider range of consumers. The startup has also established partnerships with gyms and fitness centers to promote their products to health-conscious customers.
The company's revenue comes from the sales of their snacks. To ensure the quality and freshness of their products, Green Snack Co has established its own production facility. The startup is also committed to minimizing waste and has implemented eco-friendly practices in their production process.
Green Snack Co has received funding from investors, with around 53% equity held by the founders and the rest with investors. The funding has enabled the startup to expand its operations and reach more customers. The company aims to continue its growth trajectory by expanding its product line and increasing its presence in both domestic and international markets.
The target market of Green Snack Co is health-conscious consumers who are looking for healthier snacking options that are made from natural and nutrient-dense ingredients. The startup aims to reach people who are concerned about their health and want to maintain a healthy weight, as well as those who have specific dietary requirements or preferences, such as vegan or gluten-free diets.
Green Snack Co's products are designed to appeal to a wide range of consumers, including young adults, families, and fitness enthusiasts. The startup has also established partnerships with gyms and fitness centers to promote their products to health-conscious customers.
The company's snacks are available in multiple cities in India and export markets, and they are distributed through traditional retail stores and online marketplaces, such as Amazon and Flipkart. This distribution strategy makes their products accessible to a wider range of customers, including those who prefer online shopping.
Green Snack Co's products are priced competitively, with a focus on affordability, making them accessible to a wider range of consumers. The startup also offers promotional discounts and offers to attract new customers and retain existing ones.
The company's sales and revenue model is a combination of online and offline channels. Around 15% of their business comes from online mode, while the remaining 85% comes from offline mode.
Within offline sales, Quick Commerce accounts for 20%, while domestic and international distribution accounts for the remaining 60%. In terms of offline sales split, modern trade represents 50%, HORECA and cinema halls represent 20%, and general trade represents 30%.
In FY 17 to 18, the company had sales of ?2 crores, while in FY 18 to 19, sales increased to ?7 crores. However, the COVID-19 pandemic had a significant impact on their sales. In FY 20 to 21, sales were ?2.5 crores, and in FY 21 to 22, sales increased to ?4 crores. In the most recent month, the company generated revenue of ?25 lakhs.
Green Snack Co has raised a total of ?31.7 crores in funding from angel investors and institutional investors. The company's first investment in 2016 was ?1 crore at a post-money valuation of ?13 crore. In 2017, they raised ?3.2 crores at a post-money valuation of ?23 crores. In both 2018 and 2020, the company raised ?13.5 crores at a post-money valuation of ?67 crores.
In FY 21 to 22, the company had an annual burn of ?1.5 crores. Despite the impact of COVID-19 on their sales, Green Snack Co has managed to maintain a steady growth trajectory and has attracted significant investment to fuel their expansion.
Green Snack Co appeared on Shark Tanks India seeking investment for their business. During their pitch, the owners asked for ?1 crore in exchange for 2% equity, valuing the company at ?50 crores.
One of the sharks, Veenita, made a counteroffer of ?1 crore for 8% equity, valuing the company at ?12.5 crores. After some negotiation, the final deal was closed with Veenita for ?1 crore at 8% equity.
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