In the 19th episode of Shark Tank India Season 4, Assam-based Woolah Tea, renowned for its pioneering bagless tea dip, left a lasting impression on the Sharks.
Founded by Upamanyu Borkakoty in 2020, Woolah Tea distinguishes itself by crafting premium tea using ancient methods.
Entering the tank, Upamanyu sought ₹50 lakh for 1.66% equity, valuing Woolah Tea at ₹30 crore.
Since launching in January 2021, the brand has shown significant financial growth—starting with ₹13 lakh in FY 2020-21, increasing to ₹58 lakh in FY 2021-22, and reaching ₹95 lakh in FY 2022-23.
The brand’s revenue surged to ₹2 crore in FY 2023-24. However, for FY 2024-25, the projected revenue is ₹1.3 crore, reflecting shifts in market dynamics and strategic adjustments.
Anupam Mittal offered ₹50 lakh for 5% equity with the promise to assist in raising an additional ₹3 crore. Namita Thapar highlighted Woolah’s marketing challenges and proposed ₹50 lakh for 4.5% equity with a 1% royalty until the investment was recovered. Vineeta Singh identified pricing as a potential issue, specifically the ₹30 price point, and ultimately opted out after failing to agree on terms.
Aman Gupta matched Anupam’s offer of ₹50 lakh for 5% equity but presented it without conditions, making his offer more appealing. After considering multiple offers, Upamanyu sealed the deal with Aman Gupta, securing ₹50 lakh for 2.5% equity plus 2.5% advisory equity, valuing the company at ₹20 crore.
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Woolah, which means “happiness” in Assamese, delivers on its name with its eco-friendly, patented green tea balls.
These innovative tea balls bloom into fresh leaves when brewed and can be reused 2–3 times, making them both economical and sustainable.
The packaging, designed with a QR code that connects customers directly to the tea plantations, added a unique, traceable dimension to the consumer experience.
Founder Upamanyu drew inspiration from his uncle’s passion for tea tasting and his efforts to improve lives through an NGO, fueling his ambition to innovate in Assam’s tea industry.
His story, combined with Woolah’s biodegradable product, captivated the sharks, making Woolah Tea one of the standout pitches of the season.
