Shark Tank India S3: FOMO, a Delhi based beverage brand steals the deal!

When it comes to beverages, a few common brands strike our minds and we end up buying them. For diet-conscious people, sugar is a very serious concern. The market has a lot of sugar-free or diet beverages but cannot say how promising they are. Similarly, with a vision, these two friends from Delhi completed their education and established their start-up which promises to provide organic and healthy beverages without compromising on the taste.

Gaurang Gadia and Avik Chaudhery, young entrepreneurs established a beverage brand called FOMO, promising to manufacture and pack their products sourced from the Indian Hinterlands. All the materials including raw materials, printing and packaging are from Indian distributors. The main aim is to deliver organic and healthy beverages by cutting sugar but not compromising the taste and quality. They claim that the FOMO beverages contain 30 to 40 percent less sugar comparing the colas and sodas present in the market and aim to cut additional sugar content from the beverages. 

Experience in Shark Tank

Deal for FOMO was however offered by all the 5 sharks. Their initial ask was Rs. 35 lakhs for 8%, but there was a revised offer from Aman Gupta, co-founder of boAt; Anupam Mittal, founder and CEO of Shaadi.com. The deal was closed at Rs. 35 Lakhs for 6% at a total valuation of Rs 5.83 Crore. The founders of FOMO said, "The overall experience was great. From watching Shark Tank during high school to appearing in Shark Tank India S3 with our start-up which synergises an idea to build a consumer-first brand, we agreed on the deal and learned many things like quick decisions making, communication and confidence that can take us long-way and also how important is to be receptive to feedbacks."