CosIQ Shark Tank Pitch Review, Funding and ProductsServices Offered by CosIQ

With the change in lifestyle and weather, netizens are experiencing more skin problems and therefore, they are becoming more conscious about their skin. With the rising concern, the skincare industry is becoming widely popular. Brands like Mamaearth, Himalaya, and Cetaphil provide scientifically backed skincare products for every type of skin problem. Likewise, CosIQ is also a skincare brand that is becoming increasingly popular.

Founded in 2021 by Kanika Talwar and Angad Talwar, CosIQ offers scientifically proven skincare products that are also affordable, thus enabling every type of customer to purchase the products. Having said that, let us know about this skincare brand. 

Introducing the Brand “CosIQ”

CosIQ is the first skincare brand in India that performs independent clinical trials and develops products accordingly. They offer safe and intelligent skincare products that are formulated with high-quality ingredients that will surely benefit your skin. Moreover, with a technologically advanced, and clinically effective skincare brand that has an original perspective on a wide variety of potent formulas, you’ll be able to cure all your prevalent skin concerns.

What Makes CosIQ Unique?

• Clean go-to option for customers looking for active-based, safe, effective & affordable skincare products. 
• A brand leveraging the plus points of Pharma, Beauty & FMCG industries. 
• Products are made using multifaceted ingredients, thus enhancing the general health of your skin. 
• A non-toxic certified brand that aligns with certifications. 
• Each of the formulae is developed in-house, and backed by science. 
• Many of the ingredients are approved by ECOCERT. 

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Products & Services Offered by CosIQ

The brand offers various products for different skin types, ranging from dry skin, oily skin, and sensitive skin to normal skin and combination skin – ensuring that there’s something for every skin type. The popular products of the brand have been mentioned below. 

CosIQ Shark Tank Pitch Review

CosIQ made its Shark Tank appearance on episode 4 of season 1, with the founders, i.e., Kanika Talwar and Angad Talwar asking for ₹ 50 Lakhs for 7% equity @ ₹7.14 Crore Valuation. In the tank, there were some serious discussions about the sales figures, potential, and future of the brand. In the initial four months, the brand registered 11 Lakh sales (90% online). Moreover, with a net profit of 20% and a gross margin of 75%, the brand looked promising and attracted the Sharks. 

Besides, Ashneer’s comment on the brand name felt like a Chinese TV brand starting the grill. But, Angad Talwar, the founder, welcomed the criticism with open arms and said that they are willing to change anything that would make things work. Talking about the Shark Namita – she found the sunscreen a bit sticky and thus, she was out right away. On the other hand, Vineeta was concerned about the valuation but liked the product overall. 

Overall, they got a good response from the Sharks and had multiple offers on the table, which have been mentioned below. 

• Vineeta Singh: 20L for 20% + 30L Debt at 12.5% interest
• Anupam: 50L for 20% equity 
• Ashneer: 75L for 33.33% equity (More than they came asking for) 

They further had some new offers – Anupam was ready to come in with Vineeta at 25% equity, thus giving founders the expertise of two Sharks. Besides, Ashneer gave a solo offer of 75L for 25%. The founders tried countering at 20% with Anupam and Vineeta but eventually accepted the combined offer of Anupam and Vineeta at 50L for 25%. 

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What Happened to CosIQ After Shark Tank?

The brand had a great spotlight in entering the Shark Tank, gaining lots of hype and developing awareness and interest among customers. Indeed, the entry of the brand into Shark Tank has increased sales, brought attention from consumers, and investors, and most importantly, improved the brand’s digital presence and customer base. 

CosIQ still functions and flourishes as part of bringing the larger trend into tech-led beauty solutions. With such popularity and success, the current revenue of the brand stands at $929K, while the net worth stands at Rs 1.42 crores. 

The Future Potential

CosIQ has a promising future because it can certainly evolve with the changing trends, thereby continuously creating opportunities to discover and produce scientifically validated and affordable products. The popularity of the brand among customers will, without a doubt, increase in the years to come.

With the growing trend in the skincare industry, the company can greatly maximize sales through marketing, collaboration, and online presence. With a strong foundation in cultural relevance, the brand expects a bright future in the coming years.

Further, CosIQ has plans to take its skincare line into several other categories, with early products targeting the entire facial regimen of toners, facewashes, moisturizers, etc. Next in line are the body care, and later, hair care ranges that would be introduced soon. Apart from that, expansion into the global market through online channels is being positioned, and explorations remain to be conducted for offline channels.

Lastly, CosIQ’s Shark Tank appearance has increased its popularity and presence among customers. By offering scientifically backed and affordable skincare products, the brand promises to take care of your skin. 

FAQs About CosIQ