Healthy Snack
Organic
Season 3 Episode 34
| Brand | Sorich |
| Company Name | Sorich Organics Private Limited |
| Founders | Sorav Sachdeva, Richa Sachdeva |
| Original Ask | 90 lakhs for 2.5% equity at the valuation of Rs. 36 crores |
| Deal | No Deal |
About the Product
Sorich, the renowned nutrition-led food company, offers an array of popular products including Peanut Butter, Bars, Nut Mixes, Flavored Mixes, Seeds, Dehydrated Foods, Cocoa, Smoothie Essentials, and Latte. Among their best sellers are the Berry Mixes, Seed Crackers, and Pepper Almonds.
They are committed to delivering preservative-free, incredibly tasty, healthy, guilt-free snacking options. With Sorich, customers can indulge in delicious treats without compromising on their health or taste preferences.
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Founders & their story
- Sorav Sachdeva
- Richa Sachdeva
Sorich offers a diverse range of products crafted from wholesome, nutritious ingredients, including peanut butter, energy bars, roasted seeds, nut mixes, and seed mixes. With a commitment to preserving nutritional value, they ensure that no ingredients are fried in their production process. Catering to a loyal customer base of over 20,000 individuals, Sorich stands out by eschewing palm oil, maida, and sugar from their products.
Their extensive portfolio boasts 67 unique SKUs, all available through popular online platforms such as Amazon, Flipkart, Nykaa, and Smytten. What sets Sorich apart are their meticulously formulated recipes, which are free from adulterants and preservatives, thanks to their in-house manufacturing and standardized processes. Founders Sorav and Richa embarked on this journey with a bootstrap investment of 1.9 crores, drawing from their wedding fund to kickstart the business. Operating solely through e-commerce channels, Sorich has established a robust distribution network that ensures their products reach customers nationwide.
About the company
Sorich – A nutrition-led food company, they offer a diverse range of superfoods and healthy snack options such as Bars, Flavoured Mixes, Peanut Butters, and everyday snacking alternatives, all of which are completely natural and free from artificial preservatives or chemicals. Their commitment lies in nourishing lives wholesomely. At Sorich Organics, the acknowledgment that agriculture forms the foundation of a healthy society drives them. Consequently, they are dedicated to collaborating with smallholder organic farms to bolster local economies and communities in the regions where they operate.
They consistently uphold their promise to source the finest organic superfoods globally. Their fervor lies in sharing these treasures with the world, all while embracing a positive way of life. For the planet, they leverage their business as a catalyst for positive change. Through corporate social responsibility and regenerative organic agriculture, they strive to heal both our planet and society.
Their offerings are predominantly plant-based, aligning with their mission for positive change and environmental stewardship. The emphasis on organic goodness extends to creating economic opportunities for smallholder organic farmers, thereby strengthening global rural economies. This is achieved by ensuring fair and equitable wages and providing healthy working conditions throughout the supply chain.
Revenue
Sorich has demonstrated consistent growth in annual sales, reporting revenues of Rs 7.06 crores for FY 22-23, compared to Rs 6.3 crores in FY 21-22 and Rs 10.14 crores in FY 20-21. Their annualized revenue run rate hovers between 7 to 7.5 crores, showcasing their stability and resilience in the market. In October 2023 alone, Sorich recorded sales of 55 lakhs, with a minimal burn rate of 5%. Their gross margin remains healthy at 48%, reflecting their efficiency in operations and cost management strategies.
Despite their impressive revenue figures, Sorich has incurred a lifetime loss of Rs 2 lakhs, indicative of their commitment to sustainable growth and prudent financial management.
Founders’ Ask
90 lakhs for 2.5% equity at the valuation of Rs. 36 crores.
No Deal
Reasons for no deal
Azhar: There is no product market fit. The business lacks both growth and profit.
Vineeta: The branding is too weak.
Aman: The founders lack enthusiasm.
Peyush: A business is not just about ideas; it is about execution too. The business needs a team member who knows how to sell.
Anupam: The business is not on quick commerce where it should have entered a long time ago.
