Anthyesti Funeral Services
Initial Ask – Rs. 50 lacs for 2.5% equity at a valuation of Rs. 30 Cr.
About the Company
This company is a one stop solution for all the post death rituals and rites. They have been running on an aggregator model, where they outsource all the services and bring them in one place. They want the families to have an opportunity to grief about the loss of their loved ones. Thus, having worked for about 5000+ funerals in 25 cities and 7 countries, they aim to become a household name for death related rites.
One of the sharks believed that the kind of business which this company is into cannot get customers through word spread and referrals. However, the founder of the company countered this by saying that its not true, and they have acquired customers as people talk to each other about their services.
Past performance of the Company
They started off by achieving Rs. 12 lacs as revenue in the year 2016, followed by Rs. 22.5 lacs in the year 2017. 2018 saw sales of Rs. 55 lacs, whereas they closed at Rs. 65 lacs during the financial year 19-20. They bagged sales worth Rs. 1.16 Cr. in 2020, and are projected to earn Rs. 2 cr in 2021-22.
Industry Overview
With the death rate of approximately 9% in a yearly basis, and 25% urban death rate, the market that this company caters is said to be worth $1 billion. On top of this, the changing patterns of lifestyle and increasing need of the current generation to outsource every single thing, this company finds a big enough industry.
However, the industry has its own loopholes, it cannot be grown on a referral basis, and is quite fragmented on its own. Additionally, the concerned problem here is not even referred to as a problem by half of the consumers. Thus, it makes the target audience niche, particularly aiming towards nuclear families.
Offers made, and the one accepted:
No sharks offered a deal.