Rajesh Ojha and Pooja Ojha: Founder of TribalVeda -Entrepreneur
TribalVeda’s Inspiring Journey: From Village Roots to Shark Tank Success
Rajesh Ojha and Pooja Ojha, a husband-wife duo from
Jaswantgarh, Udaipur, embarked on a journey to empower tribal women and create
a sustainable business. Their startup, TribalVeda, focuses on turning seasonal
fruits like jamun and custard apple into long-lasting, preservative-free
products. Their vision was not only to build a profitable business but also to
uplift the tribal communities by giving them fair wages for their produce.
The Struggles Before Success
Rajesh’s story is one of perseverance. He left his village
at 16 to seek opportunities in Mumbai, where he worked as a delivery man,
helper, and salesman before starting his own commodity broking firm in 2011.
Unfortunately, after three years, the business shut down. Returning to his
village in 2018, he saw a huge opportunity in jamun, a fruit that was abundant
but had a very short shelf life. He borrowed ₹80,000 from friends and ₹4 lakh
from a bank to launch a B2B jamun pulp business, which later expanded into
consumer products in 2022.
The Birth of TribalVeda
Seeing how tribal women were forced to sell jamun at
throwaway prices, Rajesh and Pooja decided to intervene. They started
processing the fruit to extend its shelf life and create premium health
products. This initiative not only provided sustainable employment to thousands
of women but also prevented food wastage. Their product line includes jamun
strips, cubes, flakes, jams, and wellness teas, all free from preservatives and
rich in health benefits.
Entering Shark Tank India
With their business steadily growing, the couple entered
Shark Tank India Season 4, Episode 42, seeking ₹50 lakh in exchange for a 2%
equity stake, valuing their company at ₹25 crore. They highlighted their
mission, emphasizing sustainability, purity, and the social impact of their
brand. Their pitch struck an emotional chord with the Sharks, as it reminded
them of childhood memories of eating jamun.
Sharks Take a Taste Test
As the Sharks sampled TribalVeda’s products, nostalgia set
in. Namita Thapar fondly recalled eating jamun from her grandmother’s tree,
while Vineeta Singh enjoyed the jamun shot. Ritesh Agarwal, too, was
transported back to his childhood through the flavors. Despite their
appreciation for the concept, some Sharks were skeptical about the brand’s
scalability.
Challenges in Convincing the Sharks
While the Sharks admired TribalVeda’s mission, they had
concerns. Vineeta Singh questioned whether jamun-based products had enough
demand for large-scale growth. Kunal Bahl believed the business needed working
capital rather than venture funding and suggested raising a bank loan instead.
Namita Thapar, though emotionally connected to jamun, found the taste of the
jamun strips underwhelming and opted out. Anupam Mittal, despite recognizing
their hard work, felt he couldn’t add value as an investor.
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A Lone Shark’s Confidence
Among the panel, Ritesh Agarwal was the only Shark willing
to invest. He saw potential in the business but had his own reservations.
Initially, he offered ₹50 lakh for 7.5% equity, a valuation far lower than the
founders’ expectations. The founders countered with ₹1 crore for 5% equity,
leading to an intense negotiation.
A Deal Is Struck
After back-and-forth discussions, Ritesh and the founders
reached a final agreement. He invested ₹50 lakh for 2.8% direct equity along
with 2.2% advisory equity, bringing the company’s valuation to ₹17.86 crore.
This allowed TribalVeda to secure strategic investment while retaining a
majority of their ownership.
Growing Market and Strong Sales
TribalVeda has a loyal customer base, primarily people over
35 who purchase their products for health benefits. Mumbai accounts for 40% of
their sales, with Bengaluru contributing another 20%. Their revenue model
includes online marketplaces (8%), events and farmers’ markets (22%), and their
own website (70%), making their direct-to-consumer approach highly effective.
Impressive Financial Growth
The company has been seeing steady financial growth. In
FY23-24, their B2B sales reached ₹1.74 crore, while their B2C revenue stood at
₹42 lakh. By November FY24-25, they had already crossed ₹2 crore in B2B and ₹91
lakh in B2C sales, with projections of ₹2.5 crore and ₹1.8 crore, respectively,
by the end of the financial year.
Empowering 5,000 Tribal Women
A key impact of TribalVeda has been its support for over
5,000 tribal women, who now have a reliable source of income. By processing
more than 5 lakh kilograms of jamun, the company has not only created economic
opportunities but also built a sustainable supply chain for wild fruits.
A Business Rooted in Purpose
Beyond profitability, TribalVeda’s true success lies in its
mission to make jamun-based health products available year-round. By extending
the shelf life of jamun from one day to up to 18 months, they are
revolutionizing how seasonal fruits are utilized. This innovation is paving the
way for future expansions into other fruit-based products.
Lessons from the Shark Tank Experience
The founders’ Shark Tank journey showcased the challenges
and opportunities of running a niche business. While some investors were
hesitant due to scalability concerns, Ritesh Agarwal’s belief in their vision
validated their efforts. His investment not only provided capital but also
opened doors to new business strategies and networks.
A Bright Future Ahead
With growing sales, a strong social impact, and a
Shark-backed investment, TribalVeda is poised for an exciting future. The
company’s journey—from a small village in Rajasthan to a national
platform—proves that with vision, perseverance, and the right partnerships,
even the most traditional businesses can thrive in modern markets.
Timeline for story
2005 – Rajesh Ojha leaves his village at 16 for Mumbai.
2011 – Starts a commodity broking firm.
2014 – Business shuts down, forcing him to return home.
2018 – Identifies jamun as an opportunity and starts a B2B
pulp business.
2022 – Expands into consumer products with TribalVeda.
2023 – Business grows, supporting 5,000 tribal women.
2024 – Appears on Shark Tank India Season 4, Episode 42.
2024 – Secures ₹50 lakh investment from Ritesh Agarwal.
