Have you ever seen kids get obsessed with slime? The squishy, stretchy goo has taken over playrooms, YouTube, and even some classrooms! But here’s something you might not have thought about—most slime sold in India comes from China and doesn’t meet the BIS (Bureau of Indian Standards) safety guidelines. That’s where Fundoo Labs stepped in!
The brand, founded by a passionate entrepreneur, is not just about slime; it’s about making science fun and safe for kids. With an exciting pipeline of DIY science kits in the works, Fundoo Labs is on a mission to bridge the gap between learning and play. But did the Sharks see the potential? Let’s break down the deal, the drama, and the final verdict!
Fundoo Labs: The Idea & The Numbers
The brand is already selling big, having clocked ₹1.5 Cr in revenue and aiming for ₹3 Cr this year. Unlike many startups, their EBITDA (profitability) is at 18% positive, meaning they’re not just burning cash—they’re making money. Their primary sales channels include:
🔹 General trade (local shops & retailers) – Majority of their sales
🔹 Modern trade (supermarkets, malls)
🔹 Quick commerce (Blinkit, Zepto, etc.)
🔹 Online platforms (Amazon, Flipkart)
Sounds promising, right? But wait—there were some major concerns too!
Sharks Smell Risk – Why Some Backed Out
🔻 Namita Thapar – She believed Fundoo Labs wasn’t ready to be a brand yet. Working capital requirements were high, general trade had long payback periods, and the business model seemed risky. So, she backed out.
🔻 Vineeta Singh – She was also skeptical about the credit risk involved in general trade. With a 2.5-month payback period, half the business was running on credit, which made it a risky bet for her. She opted out.
🔻 Peyush Bansal – He actually loved the brand and the founder’s knowledge, but he felt that the entrepreneur had everything figured out and didn’t need his help. So, he bowed out too.
Aman & Anupam to the Rescue!
Despite the concerns, Aman Gupta and Anupam Mittal saw potential. They loved the category, the product, and the entrepreneur’s passion. They believed this business had room to scale if handled correctly.
The original ask was ₹60 Lakhs for 4% equity. Aman & Anupam countered with a higher equity ask, but the founder was determined to get the valuation right. After intense negotiations, they met halfway and sealed the deal at ₹66 Lakhs for 7% equity.
Was This a Good Deal? Our Verdict
✅ Pros:
✔️ Unique positioning in an untapped, fast-growing category
✔️ Founder’s deep product knowledge and clear vision
✔️ Existing sales & profitability—a rare sight for startups!
❌ Cons:
✖️ High working capital & credit risk in general trade
✖️ Tough scalability due to supply chain & safety standards
✖️ Long payback periods making cash flow tricky
While the brand has a solid foundation, it needs to address the working capital issue and possibly shift towards more online and modern trade sales for quicker returns. With Aman’s marketing genius and Anupam’s business acumen, Fundoo Labs might just create a science revolution for kids in India! 🚀
What Do You Think?
Would you buy Indian-made, safe slime kits for your kids over the Chinese ones? Do you think Fundoo Labs can become a household name in educational toys? Let’s discuss in the comments! 👇🔥
