- Nuutjob, which launched a Community Stock Option Plan (CSOP) to enable its consumers to invest in the start-up, saw the offering subscribed 860 percent in just 24 hours with nearly 280 consumers having invested in the venture.
- The CSOP was launched on Tyke, a fintech platform that enables start-ups to transact and complete fundraising programmes digitally and instantly. Tyke aims to disrupt the way angel networks, venture capital and individuals invest in businesses.
- We are extremely happy and grateful for the response that we have received, and we are confident that with the support from the community, our company is going to grow exponentially: Ananya Maloo, co-founder of Nuutjob
NE BUSINESS BUREAU
AHMEDABAD, DEC 28
Ahmedabad-based Nuutjob, a personal hygiene brand which caters to men’s intimate hygiene and grooming through their varied products, saw a whooping CSOP oversubscription by 800% in just 24 hours of it going live on Tyke Invest.
Founded by Ananya Maloo and Anushree Maloo, Nuutjob has carved a unique niche for itself in the men’s intimate hygiene and grooming market. Ananya Maloo, the dynamic enterprising founder believes in hustling everyday to change the ball-game.
Nuutjob is the first men’s intimate hygiene brand which has believed in the growth of the community by allowing its customers to invest at the nascent stage. The company believes in the Motto, “Cleanliness is next to Manliness.”
The company has robust expansion plans to expand internationally and to build an omnichannel for the brand while using the funds on marketing, product innovation and team building.
Nuutjob being one of the few startups who landed offers from three sharks Namita Thapar, Peyush Bansal and Aman Gupta on Shark Tank India Season 1, year 2022.
According to Purav Bhubhana, the co-founder of Tyke, a fintech platform that enables start-ups to raise and complete fundraising programs digitally and instantly, “We had a great post fundraising response from people who missed out on investing with the Shark Tank India companies who were raising on Tyke. As a part of giving back towards the end of the year, we decided to work with a few promising start-ups like Nuutjob through a fundraising carnival and the results speak for themselves. We expected a fundraising of 4x. The results for Nuutjob speak loudly of exactly why we wanted to collaborate with the brand again.”
Ananya Maloo, co-founder of Nuutjob, comments on the fundraising drive, “We at the core of Nuutjob believe in personalizing personal hygiene. Raising through a community via CSOPs helps us co-create the brand inspired through the suggestions that our consumers and investors offer through the platform Tyke. The result of our fund drive on Tyke was way beyond our expectation. Our company was oversubscribed by 800%. We are extremely happy and grateful for the response that we have received, and we are confident that with the support from the community, our company is going to grow exponentially. The year has ended on a high for us.”
