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⁠⁠Rs 50 Lakhs in 1 Year! This Bangalore Couple's Pandemic Project Became a Booming Mushroom Business

Starting with a modest investment of Rs 10,000, this couple's revenue exceeded Rs 50 lakh in one financial year!

⁠⁠Rs 50 Lakhs in 1 Year! This Bangalore Couple's Pandemic Project Became a Booming Mushroom Business

Wednesday March 13, 2024 , 2 min Read

Jashid Hameed and Prithvi Kini, a Bangalore-based couple, found more than just love during the pandemic's unexpected twists; they discovered a shared vision that would eventually lead to the inception of Nuvedo. Jashid, once an operations manager in the fast-paced world of fast fashion, and Prithvi, a pioneering member of India's first quantum cybersecurity firm, both felt an increasing disconnection from their professional lives. The pandemic's pause on normalcy prompted a deep introspection, steering them towards a path less traveled — one rooted in sustainability and the vast potential of food systems.

In 2020, amidst the global uncertainty, they launched Nuvedo with a mission to unveil the "healing benefits of functional mushrooms" to a health-conscious Indian audience. Their venture quickly resonated, primarily due to their star product: a home-growing mushroom kit. This wasn't just any product; it was a carefully crafted "educational tool" designed to demystify the process of cultivating exotic mushrooms at home.

But Nuvedo's ambitions stretched beyond mere cultivation. Each kit serves as a gateway to a broader education, with customers receiving detailed emails and a QR code on the box that unlocks a wealth of information — from recipes to the myriad health benefits and nutritional content of mushrooms.

Nuvedo's star product is its home-growing mushroom kit. This "educational tool" allows users to cultivate exotic mushroom varieties themselves. "What sets our kit apart," explains a Nuvedo co-founder, "is its chemical-free, 100% organic nature, promising the freshest mushrooms possible."

Starting with a modest investment of Rs 10,000, Nuvedo's growth trajectory has been nothing short of remarkable. By FY22, the company had generated Rs 6 lakh in revenue, which impressively quadrupled to Rs 25 lakh by FY23. For FY24, projections confidently estimate revenues exceeding Rs 50 lakh.

Shark Tank

While their appearance on Shark Tank India Season 3 didn't secure funding, Jashid reveals, "they managed to convey the message of mushrooms and dispel myths through their educational content."

Nuvedo's story highlights the potential of pursuing passions and the growing interest in homegrown, sustainable food sources. Their success is a testament to the power of combining purpose with innovation.

The future looks bright for Nuvedo, with recent government grants facilitating further research and expansion. Their initiative in hosting India’s inaugural mushroom festival underscores their leadership in building a mushroom-centric ecosystem, showcasing their vision of a community tailored for mycophiles at every stage of their journey.

Edited by Roshni Manghnani