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Vs Mani and Co is a startup founded by four individuals, namely GD Prasad, Yashas Alur, Rahul Bajaj and Angel investors. The company is based in Bangalore, and its founders have a strong passion for authentic South Indian filter coffee and snacks. The company was established in 2020 with a vision to become a recognized brand in the filter coffee and snacks industry.
The idea behind the startup came from the childhood memories of GD Prasad, one of the co-founders. He used to start his day with authentic Karnataka songs and a cup of strong, flavourful coffee, along with homemade snacks in the evenings. However, he noticed a gap in the availability of South Indian special coffee and snacks outside of local restaurants, and thus the idea of Vs Mani and Co was born.
The aim of the startup is to become a recognized brand in the filter coffee and snacks industry. The company's founders are passionate about their products and want to provide customers with the best possible experience. They believe that their products are not just food and beverage items but are an integral part of the South Indian culture and heritage.
The startup's focus on authentic South Indian filter coffee and snacks is a unique selling point that differentiates it from other brands in the market. Vs Mani and Co's products are made from traditional recipes and are of the highest quality, ensuring that customers get a true taste of South India with every sip and bite.
The business model of Vs Mani and Co is centered around the production and sale of authentic South Indian filter coffee and snacks. The startup's products are made using traditional recipes and high-quality ingredients sourced from local farmers and businesses.
The startup sells its products through various channels, including its own website, online marketplaces such as Amazon, quick commerce, and supermarkets. The company has also secured investment from Angel investors, which provides funding for expansion and growth.
Vs Mani and Co's founders have a diverse set of skills and expertise, which allows them to manage the different aspects of the business. GD Prasad, the CEO, oversees the company's overall strategy and operations, while Yashas Alur manages the growth of the business. Rahul Bajaj is responsible for managing the company's day-to-day operations.
The company's founders have also developed a unique distribution strategy to reach a wider audience. They use both online and offline channels to sell their products, such as partnerships with cafes and restaurants to showcase their products to customers.
In terms of revenue generation, the startup earns revenue through the sale of its products. The company's products have a high-profit margin due to the use of high-quality ingredients and the unique nature of their offerings. Vs Mani and Co also aims to create a loyal customer base by providing excellent customer service and building strong relationships with its customers.
Vs Mani and Co's target market is individuals who appreciate and seek out authentic South Indian filter coffee and snacks. The startup's founders aim to provide customers with a unique and high-quality experience that is representative of South Indian culture and heritage.
The company's primary target market includes coffee lovers and food enthusiasts who enjoy traditional South Indian snacks such as banana chips, peanut chikki, and other snacks made from traditional recipes. Additionally, the startup aims to attract customers who are health-conscious and seek out high-quality, natural ingredients.
The startup targets customers in major cities across India, including Mumbai, Bangalore, Pune, and Delhi NCR, where there is a high demand for authentic South Indian filter coffee and snacks. The company also targets individuals who are interested in exploring and learning more about South Indian culture and cuisine.
In terms of demographics, Vs Mani and Co's target market is broad and diverse. The startup caters to both younger and older generations who appreciate traditional South Indian coffee and snacks. Additionally, the startup's target market includes individuals from all income levels, as the company's products are priced to be accessible to a wide range of customers.
In FY 20 to 21, the startup's total sales were 15 lakhs, while in FY 21 to 22, the sales increased significantly to 1.5 crores. As of now, in FY 22 to 23, the sales are 2 crores, with a projected sales of 7 crores for the year. This growth in sales can be attributed to the increasing demand for authentic South Indian filter coffee and snacks and the startup's expanding customer base.
The revenue of Vs Mani and Co is divided into 60% from coffee sales and 40% from snack sales. The company sells a 220ml bottle of filter coffee decoction for ?145, which can make approximately 10 cups of coffee, resulting in a per cup price of ?14.5. As of September 2022, the company's monthly sales were 63 lakhs, with a burn of 25 lakhs, which includes expenses such as product costs, marketing, salaries, shipping, and administrative expenses.
Vs Mani and Co's revenue is generated primarily from online sales, which account for 85% of their total revenue. The remaining 15% comes from offline sales. The startup has a 30% repeat customer rate, indicating a strong customer base and a loyal following.
To support its growth and expansion, the company closed a previous fundraising round of ?3.96 crores in March 2022 at a pre-money valuation of 15 crores. Out of the total expenses of 85 lakhs, the majority of the expenditure is allocated to product costs and marketing, which reflects the company's focus on delivering high-quality products and expanding its customer base.
JOURNEY IN SHARK TANKS INDIA
Vs Mani and Co appeared on Shark Tanks India and asked for ?60 lakhs in exchange for 1.5% equity at a valuation of ?40 crores. Namita, one of the investors, gave an offer of 15 lakhs for 1% equity of the company at a valuation of 15 crores and 45 lakhs debt at 10% interest rate. The founders of Vs Mani and Co countered the offer with 19 lakhs for 1% equity of the company at a valuation of 19 crores and 41 lakhs debt at 10% interest rate.
Ultimately, the final deal was closed with Namita at 19 lakhs for 1% equity and 41 lakhs debt at 10% interest rate. This means that Namita will hold a 1% stake in the company, and Vs Mani and Co will receive the 19 lakhs investment and 41 lakhs debt at a 10% interest rate.
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