The Gaps in the Fungi Kingdom

Despite the growing popularity, several gaps and challenges exist in the industry. One major gap is the lack of large-scale, sustainable cultivation methods. Most mushrooms are still harvested in the wild. This method is not sustainable as demand grows.

Another challenge is the shelf life. Mushrooms spoil quickly, often within 24 hours after harvesting. This makes distribution and storage tricky. Lastly, there’s a cultural gap. In many cultures, mushrooms are not traditionally consumed. 

The Start Of Something Big

Prithvi Kini and Jashid Hameed’s story started with a dating app, but it was their shared love for mushrooms that sparked the idea for Nuvedo. In 2020, amidst the global chaos, they decided to plant their entrepreneurial seeds and started Nuvedo as an experiment in their apartment.

What Does Nuvedo Do?

They make mushroom cultivation accessible and enjoyable for everyone with their flagship product, the Mushroom Growing Kit. This approach tackles sustainability, large-scale farming and shelf life issues head-on. 

They also provide wellness products with their range of mushroom-based nutraceuticals. Through workshops, blogs, and support, they educate people about mushrooms’ environmental, health, and culinary benefits.

Product Portfolio

Mushroom Growing Kits

These kits simplify mushroom cultivation. Each kit is a complete package, offering everything you need to start growing mushrooms right out of the box.

Spawn and Supplies

For the more adventurous or experienced, Nuvedo offers Mushroom Spawn and Cultivation Supplies. They’re perfect for expanding your mushroom garden or experimenting with different varieties.

Cultivation Supplies

The right tools can make all the difference. That’s why they offer a range of Mushroom Cultivation Supplies from substrates to specialized equipment to make your journey smoother.

Nutraceuticals

They offer a range of mushroom-based nutraceuticals. This includes extracts, powders, and tinctures from medicinal mushrooms like Reishi, Lion’s Mane, and Cordyceps.

Dried Mushrooms

Nuvedo’s Sundried Mushrooms are a treat. These are not just any mushrooms; they’re gourmet, packed with flavor and nutrients. They add a delicious twist to any dish, making healthy eating both easy and enjoyable.

Direct to Your Doorstep

Nuvedo operates on a direct-to-consumer model. This means they sell their mushroom kits and wellness products directly from their website to customers. It cuts out the middleman, ensuring quality. From product design to packaging, every aspect of their operation is eco-conscious. This not only reduces their carbon footprint but also appeals to environmentally aware consumers. But, the essence of Nuvedo’s business model lies in its community-building efforts.

Shark Tank Spotlight

Nuvedo’s appearance on Shark Tank India Season 3 was a pivotal moment. They sought ₹50 lakh for a 3% equity, valuing the company at around ₹16.67 crore. Despite not securing a deal, the exposure provided a significant boost, showcasing their innovative approach to a wide audience​ 

Financial Footprint

Nuvedo’s financial journey began with the founders, Prithvi Kini and Jashid Hameed, investing their savings. They secured a $42.9K investment by the angel investor,  Aluri Srinivasa Rao. In an impressive nod to their potential, Nuvedo also secured a Rs 20 lakh grant from the Karnataka government.

Nuvedo’s revenue figures speak volumes about their traction and potential. In the financial year 2022-23, they reported sales of ₹25 lakh. By October of the subsequent fiscal year, they had already hit ₹15 lakh, with projections reaching ₹50 lakh.