Prasanna Vasanadu from Chennai stepped onto the stage of Shark Tank India 4 to present her brand, Tikitoro Kids, a skincare and haircare line catering to children and teenagers. The products, dermatologically tested and pediatrician-approved, have been validated by a third-party lab and certified safe by an international organization. Tikitoro caters to two age groups, 4-10 years with Tikitoro Kids and 11-16 years with Tikitoro Teens. Prasanna shared that the brand has already reached over one lakh customers and is available on its website and e-commerce platforms. Her ask was Rs 25 lakhs for 0.5% equity, valuing the business at Rs 50 crores.
Prasanna, an engineer with an MBA in marketing from Symbiosis, Pune, explained that Tikitoro was launched in December 2021. The brand’s journey has seen remarkable growth like Rs 6 lakhs in revenue during its initial three months, Rs 2 crore in the second year, and Rs 8.2 crore in FY2024. Year-to-date revenue had already crossed Rs 8.5 crore, with projected sales of Rs 17 crore for FY2024-25. The Sharks were impressed by these numbers. She highlighted that Tikitoro’s kids’ shampoo was a bestseller, while other products, like the body lotion and body wash, were priced at Rs 740 and Rs 640, respectively.
However, Prasanna’s financial disclosures raised concerns. She admitted that the EBITDA for FY2023-24 stood at -49%, a figure that left the Sharks stunned. She explained that while it had improved to -20% in FY2024-25 till October, the company was not yet profitable. Sharing her personal journey, Prasanna revealed that the business was entirely bootstrapped, with an investment of Rs 8 crore from her savings and those of her family. Additionally, she had a Rs 2 crore bank overdraft. When Viraj Bahl inquired about the planned investment, Prasanna disclosed they initially intended to invest Rs 5 crore but had ended up spending Rs 14 crore. Of this, Rs 6.5 crore was tied up in inventory.
Viraj voiced doubts about the business’s fundability, comparing it unfavorably to Mamaearth, which had better unit economics and profitability at a similar stage. He also criticized the decision to maintain a 12-month inventory, calling it financially risky. Vineeta Singh echoed this sentiment, describing the move as “financially dangerous.” Prasanna defended her choice, explaining that supply chain disruptions and geopolitical issues had forced her team to stockpile inventory to avoid running out of raw materials, many of which were imported.
Peyush Bansal suggested Prasanna focus on hiring passionate individuals who could hold her accountable rather than relying on consultants. He advised her to stabilize the business within a budget of Rs 2 crore before seeking investment. Declining to invest, he encouraged her to refine operations first.
Vineeta expressed interest in Prasanna’s vision to scale Tikitoro to Rs 100 crore within ten years. She offered Rs 25 lakh for 3% equity, valuing the company at Rs 8.33 crore. Her condition was that no additional capital would be raised for the next two years.
Namita Thapar took a different approach. She highlighted the need for discipline in the business and stated that entrepreneurs often thrive on proving doubters wrong. She proposed Rs 25 lakh for 1% equity, coupled with a 0.5% royalty until her investment was recovered. She added two conditions: achieving Rs 17 crore in sales for FY2024-25 and initiating the royalty only after the company turned profitable.
Viraj and Anupam Mittal opted out of investing but offered words of encouragement. Anupam emphasized that Prasanna was already successful and did not require a turnaround. Peyush agreed, adding that Namita’s mentorship could bring the discipline needed to refine operations.
Ultimately, Prasanna chose Namita’s offer over Vineeta’s. Namita praised Prasanna for her resilience, calling her the “turnaround success story” of the season. Peyush supported this choice, believing that Namita’s guidance would help Prasanna scale her business effectively. With the deal finalized, Prasanna left the tank with renewed determination to steer Tikitoro towards greater success.