On the Tank
Why started Cos IQ?
After working with so many brands and designing skin care products, Kanika decided to make an intelligent and ethical skincare brand. This brand will ensure that consumers receive accurate information. In addition to this, they focus on putting all the ingredients in the right quantity, hence ensuring safety and results.
Showcasing their two best-selling products. They offer a serum-based sunscreen that vanishes instantly, preventing any white cast. Additionally, they created India’s first vitamin C serum using only two ingredients, excluding lemon and orange.
Shark Tank Recap
- CosIQ specializes in cruelty-free skincare products backed by scientific research, operating within the beauty and personal care industry.
- Ensuring that consumers receive accurate information.
- And, received offers from Ashneer, Vineeta and Anupam.
- At last, Vineeta and Anupam, Together will give ₹50 Lakhs(₹25 Lakhs each) for 25% equity (valuation-2 crores).
Cos IQ Shark Tank Live
Ask
₹50 Lakhs in exchange for 7.5% equity (valuation-6.67 crores). Further, to be used for marketing.
Business Model & sales of Cos IQ
As of now, they are selling their products online only. The majority of which comes from Amazon.
Since its inception (4 months) they have generated a revenue of ₹11 Lakhs.
Feedbacks from the sharks
- Namita- it’s too sticky and I can’t find any differentiator in this.
- Aman- I have already invested in a similar company.
Offersbfor Cos IQ
Ashneer-₹75 Lakhs for 25% equity (valuation-3 crores).
Vineeta and Anupam- Together they will give ₹50 Lakhs(₹25 Lakhs each) for 25% equity (valuation-2 crores).
Counter offer
Vineeta and Anupam to come for ₹50 Lakhs for 20% equity (valuation-2.5 crores).
Deal
Vineeta and Anupam, Together will give ₹50 Lakhs(₹25 Lakhs each) for 25% equity (valuation-2 crores).
Cos IQ Beyond Tank tank updates
Beyond Tank constantly provide updates and follow-ups about the entrepreneurs from the day they appeared on Shark Tank India.