In this episode of Shark Tank India Amore ,an authentic and vegetarian gelato and sorbet company presents the pitch. Will the founder get a deal from the sharks? To know about the deal read till end.
|Founders||Yasser Ali and Nayeer Hussain and Costanzo Malatto|
|Ask||₹ 75 lakhs for 4% equity|
Yasser is from America but is living in Mumbai right now. He was born and raised in America. He lived there for 24 years. Then he came back to India working as a Social worker and was raising funds from Chicago.
Nayeer Hussain is from Hyderabad but lives in Italy.
They both met each other while Yasser was working as a social worker.
Costanzo Malatto is the co-founder and technical director. He is the chef who prepares these varieties of gelatos.
About the Company Amore
In Italy people love to consume gelato at a large scale. One of the favorite dishes of Italy has been introduced by these gentlemen in Mumbai. Amore is a vegetarian gelato brand which makes its products completely from natural ingredients. They are B2B businesses and supply their products to cafes, restaurants etc. Their vision is to make affordable gelato for the Indian people. The first shop was set up in 1960. They started in India in 2006. The average price of one scoop is 60 to 70 rupees. They have 6 outlets till date. During the covid era the sales dropped by 95%. They thought of closing or transforming the business. Yasser has 50% of the equity. Nayeer has 30%. Management has 5% and an angel investor of America has 15%.
Ask by the Owners Amore
Pitchers asked 75 lakhs rupees for 4% equity in the company.
Shark Tank India Sharks Team in Kapil Sharma Show
Amore Sales And Revenue
In the month of September 2022 the sales were 35 lakhs rupees. Among this 5 lakhs rupees is from dark stores. Before covid the sales were 6 crore rupees per annum. They have raised 2.2 cr. rupees at a pre-money valuation of 7.3 cr. rupees. This year Their projected revenue is 6 crore rupees and next year is 21 crore rupees. They have planned to expand in five of the major cities in India; Hyderabad, Mumbai, Pune, Bengaluru and Delhi.
Offers and Counter Offers
Anupam offers 75 lakhs for 7.5% equity with the condition that Amore will make a revenue of 80 lakhs rupees per month before March 2023.
Amore Final Deal
The deal was finalized with Anupam with the same offer.