In this episode of shark tank India episode 34 we have Nomad Food Project a food brand that brings a twist to bacon-based products,Twee In One- a reversible and convertible clothing brand, Green Protein-a 100% plant based protein powder, and On2cook-a 2-in-1 product for all cooking needs are the pitches.
1. Nomad Food Project
- Owner: Advaith Siddharth Inamke is from Pune and CEO . Aditya Rai is from Delhi and COO of the company.
About Nomad Food Project
They make bacon jam and relishes that are made from pork. They had given a delightful taste to bacon. Using its saltiness and smoky flavour, adding desi taste to it, they have made products that are never made in India before. Their products such as bacon thecha, chorizo jam can be used as spread on bread or can be added to eggs. There are 12 products available on their website among which 5 are unique and bestsellers. Other vegetarian options are also available. They started this from a college project.
Nomad Food Project Gross Profit and Sales
The company’s valuation is 4cr. In 2019, their sales were 9.5lakhs. in the last 6 months sales were 11 lakhs. This year they did sales of 46 lakhs. Sales of vegetation products are 10 to 15% and maximum sales come from bacon products. MRP of bacon products are in the range of ₹350-400 and vegetation products cost upto ₹300. Their gross margin is 70%>
Asks by the Pitchers Nomad Food Project
Pitchers approach with a ask of 40 lakhs for 10 % equity of the company
Counter offers Nomad Food Project
Namita and Vineeta gave an offer of 40 lakhs for 20% equity. Anupam, Peyush and Aman give an offer of 40 lakhs for 20% equity.
Ghazal gave an offer of 40 lakhs for 15% equity. Later they changed where Ghazal, Namita and Vineeta gave an offer of 40 lakhs for 20% equity. Later Ashneer joined all the three women sharks for 40 lakhs at 20% equity.
Final Offer for Nomad Food Project
The final deal was done with Anupam Mittal , Vineeta, Namita and Ghazal at 40 lakhs at 20% equity.
2. Twee In One
- Owner: Niti Singhal is the founder and designer in the company. She has completed her graduation and masters in fashion and she was working as an embroidery designer in Italy.
About Twee In One
It’s a brand that makes reversible and convertible clothing. They started this four years back with women’s clothing and now also made kids wear. They sell their products through their website. Their vision is no girl can say not enough to wear and not enough space to keep.
Twee In One Gross Profit and Sales
The company’s valuation is 4cr. Last 3 months sales were 5.7 lakhs. Cost price for one dress is ₹5500 and selling price is ₹15k. The cost price of a baby dress is ₹ 650 and selling price is ₹1990.
Asks by the Pitchers of Twee In One
Pitchers approach with a ask of 30 for 7.5% equity of the company
Final Offer for Twee In One
All the sharks stepped out and no final deal was
3. Green Protein
- Owner: Madhvi Datwani,lawyer by profession and Satish Datwani. They are from Mumbai.
Madhavi and her two friends have jointly invested 90 lakhs rupees to start this venture.
About Green Protein
Returning home after tiresome days of work and wanting to have harmful cold-drinks?Instead of cold-drinks try out their protein shake which is not only for gym goers but for normal people too. This protein is 100% plant based protein available in 6 fruits flavours and 3 smoothies flavours. This is the first type of protein in the market whose look and feel is different from other protein shakes and taste like juices. This is very refreshing and is easy to digest.Pineapple is the best selling flavour and the colour is gained from curcumen which is an anti-oxidant. They tried their best to keep it as natural as possible. Colour of watermelon is made with beet root powder and black currant colour is from anthocyanin; pigment found in purple vegetables. There is no added sugar and sweetness is from 0.02% of sucralose. No shakers, blenders are needed as this is easily mixed with water.
Green Protein Gross Profit and Sales
The company’s valuation is 30cr. The selling price of a single sachet is 79 rupees. The revenue generated for the last 10 months was 50 lakhs rupees. In November the sales were 12 lakhs rupees. In October it was 7 lakhs rupees. Gross margin for modern trade is 40-45% and for general trade it is 25%. For chain shops it is 30%. The net profit is 60% as the making cost is Rs. 15 for each sachet.
Asks by the Pitchers of Green Protein
Pitchers approach with a ask of 60 lakhs rupees for 2% equity of the company.
Counter Offers for Green Protein
Ashneer Grover was out of the deal. Ghazal Alagh, Aman and Vineeta counter offer 60 lakhs rupees in exchange for 20% equity in the company. Namita and Peyush were out of the deal.
Anupam asked whether pitchers were interested in selling their brand to him but they denied. Anupam counter offers 60 lakhs rupees in exchange of 15% equity in the company.
Pitchers counter offer for 5% for 60 lakhs rupees. Aman, Ghazal, Vineeta Singh again counter offer 60 lakhs rupees in exchange of 15% equity in the company.
Anupam counters offer for 60 lakhs in exchange of 13% equity in the company. Pitchers denied the deal.
Final Offer for Green Protein
No deal was finalised with the sharks.
- Owners: Sanandan Sudhir and inventor of this cookware. Mechanical Engineer and was in GE Healthcare for 10 years where he used to work designing medical products. After that he worked in a startup.
On2Cook is a brand which sells two-in-one cookware. This cookware functions in both ways at the same time which microwaves the food from top and from bottom it is used as gas/induction. One can cook simultaneously with both the mode of cooking process and is the fastest mode of cooking. This cookware can save 70% time and 50% of energy. Kebab can be made in 30 seconds, chicken can be cooked in 7-8 minutes.By this machine one can save time and energy.
On2Cook Gross Profit and Sales
The company’s valuation is 100cr. Rupees. The selling price will be 50k rupees and making cost will be around 15k. He has shown demos to 100 customers. The target customer is the small restaurant owners and cafe owners. They are in talks with cloud kitchens too. A team of expertises provide this oven to Subway and one of the expertise from the team agrees for SAFE payment of 2.5cr rupees.
Asks by the Pitchers On2Cook
Pitchers approach with a ask of 1cr. for 1% equity of the company.
Counter Offers for On2Cook
No shark tank india judges were interested in the startup and all stepped out of the deal.
Final Offer for On2Cook
No Final deal was done.
Shark Lesson of the Day
Shark Ashneer Gover gave a lesson on retail format. In retail there are two types of formal. One is modern retail and another is general trade. Modern retail includes big stores such as supermarkets and general trade includes small retail shops. D- Mart and BigBazar are modern retails.
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