From metro coffee stall to establishing a Brand "Tiggle": Anuva Kakkar's Inspiring Journey in Shark Tank India
In the realm of entrepreneurship, tales of triumph often emerge from the craziness of adversity, resonating with the echoes of passion, confidence and unwavering determination. Anuva Kakkar's journey embodies this spirit, a narrative woven with threads of struggle, innovation, and eventual triumph, culminating in the creation of Tiggle, a hot chocolate brand whose taste is capturing hearts.
Anuva's story began with a simple yet profound realization – the desire to do something unconventional, to carve a path that transcended the ordinary.
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Early days and Education
Anuva belongs to Agra, She completed her graduation in BBA from Banasthali Vidyapith in 2019. She participated in Business Growth and Entrepreneurship Indian Goldman Sachs 10,000 Women - Scaling Up program by Institute of Management Bangalore.
She was always interested in venturing into some entrepreneurial business. She tried a lot of things but as a project.
One random day, as she was walking back from the office and wanted to drink rich hot cocoa or more like melted chocolate. It was the time when she realised that there were only a handful of cafes in Gurgaon that sell delicious and flavoured hot chocolate but that too for a crazy high price.
Then a question came to her mind why chocolate is not available as coffee or ice cream? She decided to make hot chocolate more accessible and affordable. Anuva's restless spirit yearned for adventure, for the thrill of experimentation.
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The next couple of months, she tried so many things. She had a full-time job, but whenever she wasn’t in the office she was thinking about hot chocolate. Every weekend, she used to experiment with new recipes with new ingredients, some failed some rocked. After so many experiments, she finally got to the one that she liked as the best hot chocolate she ever had.
She purchased a huge steel jar and everything needed to prepare hot chocolate. She stood outside a metro station in Gurgaon and tried to sell about 25-30 cups of hot chocolate. In just 52 minutes, she sold out all the chocolate. She decided to sell more and started her own stall with the name “Dipsy Hot Chocolate” in the market outside the metro station.
It worked amazingly during the test run, she hired someone for that stall. But nearby shops and local people didn't allow them Yet, undeterred by adversity, Anuva pressed on, armed with an unwavering determination to turn her dream into reality. But in 2020, the COVID hit made her bound to the shutdown.
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As the world grappled with the unprecedented challenges of the pandemic, a lot of companies were shutting down, and many employees were fired. This was the time when she decided to do something that could create jobs so she restarted her business with a new idea and the name “Tiggle”. Undeterred by the upheaval, she pivoted, leveraging the lockdown period to refine her product, forge partnerships with cocoa farmers, and rebrand her venture Tiggle.
About Tiggle
The Tiggle was started with just an initial investment of 20000 rs in a small room of Anuva's home. In 2021, Anuva decided to open a factory and properly work on her idea of Hot chocolate. They are a bootstrapped and profitable company. Till now, They have reached to over 37000 customers through their website and Amazon. The company has a team of 9 members with a working culture.
In Shark Tank India
Recently, Anuva appeared in Shark Tank India Season 3, with her confidence and entrepreneurial acumen. She asked for 50 lakhs for 5% equity at the valuation of 5 crores.
Facing sharks, Anuva showcased Tiggle's ready-to-make chocolate mixes. The sharks tasted the Tiggle Hot chocolate. They liked its taste, packaging and Anuva's confidence in pitching her idea and business.
The growth rate of Tiggle is -4.8 % and the average rate of the product is 308 without GST. The projected sale for FY23-24 is 1-1.5 crores. The repeat rate of the company is 24% to 25%. The Sharks were impressed by her clarity and praised her for it. They were not so interested in investing in her company due to its market size.
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Amit Jain made an offer of 20 lakh for 5% equity and 30 lakh as a loan with a 15% interest rate for three years. Peyush countered with an offer of 50 lakhs for 20% equity and a 1% royalty until 1 Cr is recovered, later they joined. They offered 50 lakh for a 20% equity stake, along with a 2% royalty until 1 Cr is recouped. Anuva accepted the offer and the deal was signed.
Today, Tiggle stands as a beacon of innovation and resilience, a testament to Anuva's indomitable spirit and unwavering commitment to her vision.
Anuva Kakkar's journey is a poignant reminder that success is not merely the destination but the sum of the challenges overcome, the lessons learned, and the unwavering belief in one's dreams. As she continues to chart new horizons and inspire countless others, Anuva's story serves as a beacon of hope to pursue dreams.
The willingness to embrace failure, to learn, and to adapt made it true. Despite facing initial challenges in setting up stalls and securing permissions, Anuva persisted, driven by a singular passion for creating employment, spreading happiness, and making hot chocolate for all.
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Written By Manvi