Funding · Agriculture & Food Systems
Corel Life Care raises INR 12 million from Shark Tank investors
By Startup Enthusiast ·
- Date
- Company
- Corel Lifecare
- What it does
- Aquaculture inputs brand for shrimp and fish farming
- Kind
- Funding
- Amount
- INR 12 million
- Stage
- seed
- Founded
- 2023
What they do
Corel Life Care provides science-backed aquaculture inputs for shrimp and fish farmers at half the cost of conventional alternatives
What happened
The company secured INR 12 million for 8% equity from Anupam Mittal and Kunal Bahl on Shark Tank India Season 5
Why it matters
International interest emerged from Vietnam, Ecuador, and Indonesia following the televised deal presentation to a wide audience
The details
- Corel Life Care raised INR 12 million for 8% equity from Anupam Mittal and Kunal Bahl on Shark Tank India Season 5.
- The founders initially asked for INR 12 million for only 2% equity but accepted a better valuation offer.
- The investment will fund a nationwide scale-up and strengthen last-mile delivery capabilities for farmers across India.
- The company plans to expand farmer access through its existing network and direct sales teams visiting ponds regularly.
- International interest in the business model has already surfaced from markets like Vietnam, Ecuador, and Indonesia.
- This funding round marks a significant validation of their farmer-first philosophy and cost-effective product strategy.
- The deal highlights the growing investor confidence in specialized agri-tech solutions targeting smallholder farmers.
- Corel Life Care aims to leverage this capital to improve operational efficiency and reach more rural customers.
The bigger picture
- Shark Tank deals provide immediate brand visibility and credibility for early-stage startups seeking growth capital.
- The reduced equity stake (8% vs initial 2% ask) indicates a more favorable valuation for the founders.
- Global interest suggests the aquaculture input model has scalable potential beyond the Indian domestic market.
About the business
- Corel Life Care operates as an aquaculture inputs brand serving both shrimp and fish farming sectors.
- They offer science-backed solutions designed to manage disease risks and address crop unpredictability for farmers.
- Their products are priced at approximately half the cost of conventional alternatives available in the market.
- Sales teams conduct direct pond visits, engaging with 8-10 farmers per day per representative for support.
- The company maintains a Farmer Connect Partner network that engages approximately 2,000 farmers every month.
- Products focus on preventive healthcare practices and technical education through regular conclaves and farmer workshops.
- Order dispatches are executed routinely within 24 hours, with some regions receiving deliveries in just 6 hours.
- The business model relies heavily on direct engagement and rapid logistics to build trust with end-users.
- A future plan involves launching a Q-commerce-like model allowing for on-demand ordering of aquaculture inputs.
What happens next
- Execute a nationwide scale-up of operations using the raised capital.
- Strengthen last-mile delivery infrastructure to maintain rapid order dispatch times.
- Expand farmer access through increased direct pond visits and partner networks.
- Explore international expansion opportunities in Vietnam, Ecuador, and Indonesia.
The deal
- Type
- funding
Investors
- Anupam Mittal and Kunal Bahl (lead) — Investors who appeared on Shark Tank India Season 5 and made a joint investment in Corel Life Care.
Founders
- Abhijeet Naohate, Founder & CEO
- Rohit Patel, Co-founder & Chief Business Officer
- Nikhilesh Hajare, Co-founder & COO
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