Ever wondered what happens when childhood sweethearts turn into business partners? Well, meet Joyspoon—Vaishali and Yash’s brainchild who’s shaking up the mukhwas market with a fresh twist and earning a revenue of Rs 3.6 crore.
The Spark of Joy
Picture this: Vaishali’s nani’s kitchen, filled with the aroma of toasted seeds and family laughter. Fast forward to Vaishali and Yash’s wedding, where they swapped out the usual sweets for handcrafted mukhwas. The guests were thrilled—they couldn’t get enough! That’s when they realised they were onto something special.
Vaishali and Yash saw that the mukhwas industry was pretty chaotic, with no one focusing on quality. Before diving in, Vaishali and Yash did their homework. Market research, pop-ups, exhibitions—they went all out. They discovered that 80% of the market was unorganised, which meant a huge opportunity. With data and feedback in hand, they knew Joyspoon could add a sprinkle of joy to everyone’s lives.
So, they launched Joyspoon in 2023 with a mission to make mouth fresheners not just tasty but also healthy.
- They ditched artificial colours and flavours, opting for natural alternatives like coconut sugar and jaggery.
- Their unique blends, including millets, seeds, and superfoods, gave mukhwas a modern makeover.
- Plus, they’re working on variants that aid post-pregnancy recovery and digestion using Ayurvedic goodness.
- Their lineup features flavours like Almond Delight, Cashew Rose, Digestive Fiesta, and Calcutta Paan, with prices ranging from ₹99 to ₹299.
Now enter the unsung heroes of JoySpoon’s origin story.
- The believers,
- The motivators,
- And the cheerleaders who probably saw the potential in Vaishali and Yash’s dynamic duo even before they saw it themselves!
First, we have the pioneering investors from 100 X.VC, who were like the early adopters of an unlaunched phone with zero reviews—they just knew! These bold visionaries jumped aboard the JoySpoon Express even before it left the station, fueling the dream right from the beginning.
Next, a special shoutout to Prateek Toshniwal from IVY Growth Ventures in Surat. This guy’s support has been as consistent as your Wi-Fi dropping just when you’re on an important Zoom call. Whether it was their former venture or the current one, Prateek has been the hype man, the guide, and the motivator all rolled into one.
And let’s not forget the sagely wisdom of Arjun Vaidya and Dishit Nathwani from a venerable 50-year-old FMCG oil-based manufacturer in Gujarat. Think of them as the Yoda of the FMCG world—wise, experienced, and incredibly confident in JoySpoon’s potential.
These key players didn’t just support—they launched JoySpoon into the stratosphere. Now, it’s all about seeing just how high it can fly! 🚀
Money Moves
- Joyspoon operates as a direct-to-consumer (D2C) brand, selling its mouth fresheners through marketplaces, its website, and a store in Ahmedabad.
- They’re about to launch on Big Basket, Zepto, Swiggy Instamart, and quick commerce platforms, too.
- Offline, they’re testing the waters in premium paan parlours, gourmet stores, and supermarkets in Ahmedabad.
- Currently, approximately 55% of their revenue comes from online channels, while 45% is generated through offline sales, including their exclusive Ahmedabad retail store. For this year, the brand’s revenue is Rs 3.6 crore.
- They’re also partnering with event planners and hotels. And, they just launched 5 gm sachets, which are expected to be a game-changer.
Investors love Joyspoon too. They raised ₹1.25 crore from 100X.VC at a valuation of ₹8.33 crore and secured ₹56 lakhs in an angel round from investors like Prateek Toshniwal from IVY Growth and Dishit Nathwani from Gulab Oils, at a valuation of ₹18 crore.
The USS Mantra
Ever wondered how Vaishali and Yash manage to work together as a couple? Here’s their “USS” mantra:
- Understanding & Dynamics: Having a good understanding and compatible dynamics is crucial. If both partners are dominant, it can create issues.
- Skills: Complementary skills are key. Yash handles finance as a Chartered Accountant, while Vaishali handles product, branding, and marketing.
- Sacrifices: Working together means personal life often merges with work life. Both partners need to be ready for sacrifices.
For Vaishali and Yash, working together is a blessing. Yash is the ultimate co-founder for Vaishali, and she’s his perfect match, too.
Reflecting on their journey,
Vaishali and Yash share one major piece of advice for new founders:
“One major mistake new founders should avoid is not listening to their customers enough. We’ve been there—it’s easy to get excited about your ideas, but the real insights come from the people using your product. Ignoring customer feedback or not adapting based on their needs can lead to wasted resources and missed opportunities. Stay close to your customer base, engage with them regularly, and be flexible with your approach. This way, you’ll ensure your business solves real problems and meets market demand.”
The Joyspoon’s Journey Ahead
From its humble beginnings in a family kitchen to the spotlight of Shark Tank India 4, Joyspoon’s journey showcases the impact of passion, persistence, and a touch of joy.
The duo’s appearance on Shark Tank India 4 was truly remarkable. Seeking ₹40 lakhs for 1.5% equity, their health-oriented mouth fresheners captured everyone’s interest. Childhood sweethearts turned business partners, Vaishali and Yash displayed undeniable chemistry. Ritesh Agarwal commended their idea, stating, “You’ve spotted a gap in the market and developed a product that’s both healthy and delicious.” Peyush Bansal even recommended enjoying mukhwas as a nutritious snack!
So, the next time you’re in the mood for a snack that’s both delicious and healthy, think of Joyspoon, spreading joy, one mukhwas at a time.
