- Founder/Owner: Harsh Kandoi, Pulkit Kejriwal & Aadarsh Choudhary
- Business: Cloud Kitchen
- Ask: ₹1 crore for 1% Equity
- Valuation/ Networth: ₹100 Crores
- Funding: No deal
- Sharks: No deal
- Episode: Season 3 Episode 29
EatVerse Shark Tank India Pitch:
EatVerse is an Indian startup that appeared on Shark Tank India Season 3 Episode 29. They are Kolkata’s multi-brand cloud kitchen, which has 8 superhero brands under their umbrella. Their labels include Biryani Inc, Santa Delivers, Asian Flair, & Burger In-Law. The founders started this business with an initial investment of ₹10,000, and now they have 6 kitchens and 1 base kitchen operating under their company and fulfilled over 20 lakh orders so far. Also, They are available online through Swiggy and Zomato. Further, The founders’ vision is to expand EatVerse pan-India, and to fulfill this, they sought an investment of ₹1 crore for 1% of the company valuing the business at ₹100 crores.
EatVerse Revenue & Financials during Shark Tank India:
EatVerse was started in December 2014, and they have been in business for about 9 years now. They are still primarily operating in Kolkata with a small presence in Siliguri. For FY23-24, the company has already done ₹10.7 crores of revenue until October 2023 and is projecting to close the year at around ₹21 crores. The founders added that they closed last financial year at ₹13.1 crores. Their EBITDA for this year would be at 6%, and their EBITDA for last year was at 1%.
EatVerse made ₹1.72 crores in revenue in October 2023 with 6% EBITDA. The company added that they are 1.5-1.7% of the total market share of Swiggy and Zomato in their city. Also, They are ranking 5th-6th on the company’s city accounts. Moreover, The company was completely bootstrapped at the time of their pitch, and the founders’ vision was to grow it sustainably without burning money.
EatVerse Shark Tank India Negotiations & Funding:
Anupam felt like EatVerse’s founders were lost and they do not realize how big of a risk it is to go into new geographical regions. Namita felt like the founders lacked clarity in their vision so she went out of the deal as well. Amit felt that the valuation was too high so he goes out as well. Aman goes out due to similar reasons. Ritesh goes out because he felt like the founders were not sure where they are going in the future; therefore, he goes out as well.
Who are the founders of EatVerse?
Harsh Kandoi, Pulkit Kejriwal & Aadarsh Choudhary founded EatVerse. They are all school friends from Kolkata.
How is EatVerse Doing after Shark Tank India?
Our research into EatVerse revealed that despite not getting a deal on Shark Tank India, the company still got exposure and validation on national TV, which would open many doors for them. We will update this article with more information and their financials once they come to light, but in the meantime, you can check out Shark Tank India products by clicking the Amazon link below!
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Source: Instagram @eatverseofficial
Here are other companies from Season 3 Episode 29.