SoupX: Your Partner in Healthy Eating - Delicious, Nutritious Soups!

SoupX is a health-focused startup that aims to provide healthy soup-based meals to people. Founded by Priyank Jain and Uttam Kumar, the startup aims to help people make a lifestyle change by replacing their meals with healthy soups that are freshly prepared, calorie-counted, and free from artificial preservatives.

The idea behind SoupX was born out of the realization that people need to change their dietary lifestyles, especially in the wake of the pandemic. People often follow expensive diets or join classes to stay fit, but SoupX aims to make healthy eating less expensive by providing affordable and personalized soup-based meals. The company has more than 99 varieties of healthy soups available and offers on-demand as well as subscription-based services.

Their vision is to become India's number one healthy soup-based meal brand, and they are constantly working towards achieving that goal.

USP:

SoupX's unique selling proposition (USP) is their focus on health and personalization. The company provides freshly prepared soups that are carefully curated and planned by their chef and nutritionist. The soups are customized based on the customer's fitness goals, making them a personalized and healthy meal option.

SoupX also offers small-sized healthy meals such as garlic bread, veggie bowls, or whole wheat sandwiches to complement their soups, providing a complete meal replacement plan for their customers. Additionally, their DIY soup kits have a shelf life of six months, making them a great option for B2B node supply.

Business Model:

SoupX's business model is based on providing healthy soup-based meals to customers through on-demand and subscription-based services. They have a team of chefs and nutritionists who curate and prepare the soups, and they also offer small-sized healthy meals as a complement.

The company's revenue comes from two sources: delivery platforms like Swiggy and Zomato account for 85% of their sales, and the remaining 15% comes from subscriptions and co-branding. The company's gross margin is 45%, and they have a monthly burn rate of 1 to 1.5 lakhs, which covers chef salaries, advertising costs, and raw material expenses.

Target Market

SoupX's target market is health-conscious people who are looking for healthy meal replacement options. The company's personalized soup-based meal plan makes it an ideal option for people who follow a strict fitness regime or have dietary restrictions. SoupX's healthy meal options are also perfect for people who are always on the go and don't have time to prepare a healthy meal.

Gross Sales

SoupX started in December 2021 and has been growing steadily since then. In August 2022, the company had sales of 8 lakhs, in July 2022, they had sales of 7 lakhs, and in June 2022, they had sales of 6 lakhs. The gross margin for SoupX is 45%, and the monthly burn is 1 to 1.5 lakhs, which is spent on the salary of chefs, advertisements, and raw materials. Out of the total sales, 85% comes from Swiggy and Zomato, and the rest 15% comes from subscriptions and co-branding.

Journey in Shark Tanks India

SoupX founders Priyank Jain and Uttam Kumar appeared on Shark Tank India Season 2, where they pitched their startup idea to a panel of investors. During their presentation, the founders shared the story of how SoupX came to be, highlighting the need for a healthy and affordable meal replacement option in the market.

The investors were impressed by the company's innovative approach to healthy eating and its potential for growth in the Indian market. However, the founders' ask of ?75 lakhs for 6% equity in the company at a valuation of 12.5 crores raised some concerns among the investors.

Despite this, the investors were intrigued by the company's potential and engaged in negotiations with the founders. Ultimately, Aman, Namita, Peyush, and Anupam stepped out of the deal, while Vineeta gave an offer of 50 lakhs for 20% equity of the company and 25 lakhs debt at a 12% interest rate.

The founders, however, countered with an offer of 50 lakhs for 18% equity of the company, along with debt. After some back-and-forth, the deal was finalized with Vineeta at 50 lakhs for 18% equity and 25 lakhs debt at a 12% interest rate.