Diabexy, a pharmaceutical product, has become the talk of the town after its founder rejected the sharks’ offer on Shark Tank India Season 2, know about its products and price
The second season of Shark Tank India has completely taken over the Indian television industry, with the “sharks” on the program investing in and coming up with ideas for fresh, exciting startups that aid Indian business owners in expanding their operations.
While most of the startups featured on the show accepted offers from the sharks, some companies overwhelmingly rejected the sharks’ offers. Among them is Diabexy, a pharmaceutical business company that offers a range of diabetic products that help reduce diabetes.
Diabexy Shark Tank India company, founder, revenue, valuation, atta price, products, deal, net worth 2023
The co-founders of “Diabexy,” Lokendra and Nishu Tomar, declined an offer of Rs 1.5 crore for 20% stock on the most recent episode of Shark Tank India Season 2. They state that they are content with disclosing their business plan to individuals watching the show.
Since then, the Diabexy company, its pitch, and its demand have become hot topics of discussion all over the country. Due to this, many people are trying to find out more about it. So, let’s find out everything about it:
More about Diabexy
With the goal of removing diabetes from India, Diabexy, a brand of diabetic-friendly snacks and foods, was founded in 2008. The creators discussed how grains with a high glycemic index, which cause our bodies to produce more sugar, are the mainstay of Indian eating customs.
The company now has more than 3.5 lakh customers. In addition to earning a sizable profit of Rs 1.5 crore, the co-founders were able to take home a combined salary of Rs 1 crore. With 40 people outside the founders, they currently have 70% return clients for their products.
Products offered by Diabexy
- Diabexy
- Diabexy flours and mixes
- Diabexy cookies, snacks, and sweets
- Diabexy sweetner & salts
- Diabexy supplements
- Diabetes kits and combinations
- Diabexy chart and books
Why did he reject the sharks’ offers?
Lokendra approaches the sharks for Rs 1.5 crores in exchange for 1% ownership of the company.
However, Anupam Mittal said that Diabexy’s goods are on the pricey side because their flour costs Rs 500 per kg, which is too much for the typical consumer. Additionally, he withdraws due to concerns about competition.
When Anupam decides not to proceed, Aman Gupta, Namita Thapar, Peyush Bansal, and Amit Jain make a proposal for Rs 1.5 crore in exchange for 20% equity.
However, Lokendra doesn’t want to budge from the estimated initial stakes and rejects the agreement. He goes on to say that he will return when his net worth reaches Rs 100 crore.
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