Rocca
Introduction
Sonal Bahilani and Yash Pande from Nagpur introduced their venture, Roka, as a blend of nutty and chocolaty delights, offering 70% nuts in their chocolates. They shared a personal story about the inspiration behind starting Roka, highlighting a gap in the market for premium, unique chocolate experiences in India.
Business Proposal
Roka aims to establish itself as India's largest and best-tasting premium chocolate brand with global recognition. Their chocolates come in four flavors: Almond, Berry, Coffee, and Pistachio, marketed as melt-proof and suitable for gifting. Available through e-commerce platforms, their website, gourmet stores, and vending machines, Roka targets a premium segment with a unique product offering.
Marketing and Business Strategy
Roka's strategy focuses on leveraging e-commerce and digital marketing to reach their audience. They emphasize the quality and uniqueness of their product to differentiate from competitors. The founders highlighted the importance of packaging, flavors, and the health aspect (70% nuts) to appeal to a broad audience, aiming for mass appeal with a premium touch.
Investment Request
The entrepreneurs requested ₹50 lakh for a 4% equity stake in their company, valuing Roka at a significant figure considering their stage. This investment is sought to scale production, enhance marketing efforts, and expand distribution channels.
Outcome
During the pitch, the founders faced skepticism from the investors regarding the scalability of their premium product in a competitive market. However, one investor saw potential in the founders and offered ₹30 lakh as a convertible loan at the same valuation, with a 9% interest rate, recognizing the passion and determination of the founders.
Key Takeaways
Roka distinguishes itself with a product-centric approach, focusing on quality ingredients and unique flavors. Their journey reflects resilience, with a commitment to overcoming challenges and scaling their business.
Challenges
Roka's main challenges include navigating a crowded market, establishing a strong brand identity against dominant players like Cadbury, and scaling their business sustainably. The discussion with investors highlighted concerns about market positioning, the scalability of premium products, and the founders' depth of market understanding.
Conclusion
Roka's pitch showcases the passion and commitment of its founders to create a unique premium chocolate brand in India. While facing skepticism from investors about certain strategic aspects, the company's focus on product quality and unique market positioning presents a promising venture that, with the right guidance and execution, can carve out a significant niche in the premium chocolate segment.
Tabular Summary:
| Key | Details |
|---|---|
| Website | https://myrocca.in/ |
| Valuation | ₹15 Crore (Based on ₹60 Lakh for 4% equity ask) |
| Turnover | Targeting 2 to 2.5 Crore for the current year |
| Margin | 50% - 60% |
| Number of Sales/Customers | August 2023 sales at ₹9.55 Lakhs, targeting higher growth |
| Target Sector | Premium Chocolate Segment |
| Other Facts | Available in four flavors, melt-proof, suitable for gifting |
| Original Ask | ₹60 Lakh for 4% equity |
| Deal | ₹30 Lakh for 2.5 equity + ₹30 Lakhs debt at 9% interest, 3 years tenure |
| Deal By | Ritesh Agarwal |