Biography of Pranav Korke: Founder of The Healthy Binge- Entrepreneur
Biography of Pranav Korke:
Pranav Korke is a dynamic entrepreneur based in Pune, India.
He co-founded The Healthy Binge, a brand dedicated to healthy snacking, in
March 2021. The venture quickly gained traction and became an Amazon
bestseller, ranking among the top ten in its category. Pranav, alongside his
cousin Karan Korke, saw an opportunity to cater to the increasing demand for
nutritious snacks in India.
A Strong Educational Background
Pranav's educational journey laid a solid foundation for his
entrepreneurial pursuits. He studied at Victoria University, where he earned a
Master’s in Professional Accounting and Finance. His academic excellence earned
him distinctions in several areas, including Strategic Management Accounting
and Australian Taxation. Additionally, he completed his CPA with high marks,
further enhancing his expertise in finance.
The Growing Demand for Healthy Snacks
Recognizing a burgeoning market for healthy snacking
options, Pranav and Karan aimed to provide alternatives to traditional snacks,
which are often high in calories and unhealthy fats. The Healthy Binge focuses
on using wholesome ingredients like jowar, bajra, millets, ragi, and quinoa,
all known for their rich nutritional profiles. Their goal was clear: to offer
snacks that are not only tasty but also good for health.
The Product Line
The products from The Healthy Binge are 100% baked, ensuring
they are low in unhealthy fats and cholesterol-free. This approach allows the
brand to market its snacks as guilt-free alternatives to conventional snacks.
The range includes cookies, chips, and namkeen, catering to diverse consumer
preferences while promoting healthy eating habits.
Targeting Health-Conscious Consumers
The Healthy Binge primarily targets health-conscious
individuals looking for nutritious snack options. Their products appeal to a
broad demographic, including fitness enthusiasts and those with specific
dietary needs like gluten-free and vegetarian. By offering delicious snacks
that provide essential nutrients, they aim to transform snacking into a
healthier habit for all age groups.
Direct-to-Consumer Model
Operating on a direct-to-consumer model, The Healthy Binge
sells its products through its website and major e-commerce platforms such as
Amazon and Flipkart. This strategy not only enhances customer engagement but
also helps maintain control over the supply chain, allowing for competitive
pricing and direct communication with consumers.
Marketing Strategy
To expand their reach, The Healthy Binge employs a
digital-first marketing approach. They actively utilize social media platforms
to showcase their products and engage with potential customers. Collaborating
with influencers has also played a vital role in promoting their brand, helping
them connect with a wider audience interested in healthy snacking.
Sales Growth
Since its inception, The Healthy Binge has experienced
impressive sales growth. The company reported lifetime sales of 56 lakhs
rupees, with a significant increase in monthly sales, peaking at 11 lakhs in
October 2022. While their sales are rising, they are still in the growth phase,
focusing on increasing market presence rather than immediate profitability.
Biography of Pranav Korke: Founder of The Healthy Binge- Entrepreneur/age/net worth/investor/startup/nutritious snacks/The Healthy Binge story
Financial Overview
Despite their growing sales, The Healthy Binge is not yet
profitable, facing monthly cash burn. They maintain a net margin of 14 rupees
per 40 rupees selling price after accounting for costs. The founders are
actively reinvesting in marketing and production to support the brand’s
expansion, including setting up a dedicated manufacturing facility.
The Investment Journey
In April 2022, Pranav and Karan raised 1.13 crore rupees
from friends and family, which helped them scale their operations. Following
this, they appeared on Shark Tank India, seeking 50 lakhs for a 5% equity stake
in their business. This opportunity allowed them to present their vision to a
panel of seasoned investors, hoping to secure additional funding.
A Shark Tank Success
During their pitch on Shark Tank India, Pranav and Karan
received interest from investors Aman Gupta and Peyush Bansal, who offered them
the full amount requested. After negotiations, they agreed on 50 lakhs for a 5%
equity stake, valuing the company at 10 crore rupees. This deal marked a
significant milestone in The Healthy Binge's journey.
Validation and Exposure
Securing investment from the Shark Tank panel not only
provided The Healthy Binge with essential funding but also granted them
valuable exposure and credibility in the market. This validation from
experienced investors has the potential to boost their brand recognition and
attract new customers.
Continuing the Mission
With the new funds, The Healthy Binge aims to expand its
product offerings and enhance its marketing efforts. The founders are committed
to promoting healthy snacking habits among consumers and continuously
innovating their product line to meet evolving consumer preferences.
Looking Ahead
As The Healthy Binge moves forward, Pranav and Karan remain
focused on their mission to make healthy snacking accessible to everyone. By
emphasizing quality ingredients and tasty recipes, they hope to inspire
consumers to choose nutritious options over traditional snacks.
The Future of Healthy Snacking
The Healthy Binge stands at the forefront of a growing trend
towards healthier eating habits in India. With increasing awareness about
nutrition and wellness, the brand is well-positioned to capture a significant
share of the expanding healthy snack market, ensuring a bright future for both
the company and its founders.
A timeline based on the story of Pranav Korke and The
Healthy Binge:
March 2021: Pranav and Karan co-found The Healthy Binge,
focusing on nutritious snacks.
April 2022: They raise 1.13 crore rupees from friends and
family to scale operations.
October 2022: Monthly sales peak at 11 lakhs rupees, marking
significant growth.
November 2022: They appear on Shark Tank India, seeking 50
lakhs for 5% equity.
December 2022: They secure a deal for 50 lakhs from
investors Aman Gupta and Peyush Bansal.
2023: The brand continues to expand product offerings and
enhance marketing efforts.
2024: The Healthy Binge aims to capitalize on the growing
healthy snack market in India.
