- Entrepreneurs: Priyank Vora, Umesh Gajera, Chetan Kanani & Mahatva Sheta
- Business: Healthy Foods
- Ask: ₹ 1.5 Crore for 2% Equity
- Valuation: ₹75 Crore
- Result: No Deal
- Sharks: No Deal
- Episode: Season 1 Episode 25
Shark Tank Pitch:
Alpino was founded in 2016 by Chetan Kanani and his college friends, who recognized the increasing demand for healthy fats in the local market. Alpino Health Foods’ products are gluten-free, non-GMO, vegan, and made from 100% roasted peanuts, making them highly beneficial for health. The company specializes in producing healthy peanut butter, almond butter, chocolate spreads, and other nutritious snack foods. They sell their products on various Indian marketplaces such as Amazon, Flipkart, Bigbasket, Grofers, and more.
In FY 2020-2021, Alpino Foods generated a revenue of INR 15 crores. In FY 2021-2022, they have already surpassed INR 13 crores in just half a year and are aiming for INR 22 crores in total. Their gross margin stands at approximately 38%, although they did not mention any net profit, indicating they might have operated at a loss during that time. The company’s future outlook is promising, with a goal of reaching INR 500 crore in the next 5 years.
Shark Tank Negotiations:
The Sharks were shocked that Alpino had not chosen a CEO, and Anupum stated that it could become a significant conflict once they started making money. Namita and Veenta made the first offer of INR 1.5 crores for 10% equity. Ghazal Alagh was the first shark to pull out because she had already invested in Alpino’s competitor, My Fitness.
Peyush and Anupam offered INR 1.5 Crore for 9% equity. Namita countered with 8.5% equity for INR 1.5 crores. Peyush emphasized the size of his business and the valuable experience he could provide to Alpino. He committed to sticking with them for the next 10 years, no matter what happened. Alpino made a counteroffer to Peyush for INR 1.5 crores for 2.5% equity. In a final counteroffer, four sharks jointly offered INR 1.5 crores for 8% equity. However, Alpino Foods was unwilling to give more than 5% equity, so the deal was off.
How Alpino Foods doing business after Shark:
Alpino Health Foods raised an undisclosed amount in a Revenue-Based Financing round from patron investors through Klub’s platform. A part of this fund will be dedicated to branding, marketing, and building the team. As of October 2023, They have over 28.3k Followers on Instagram and their brand is growing in positive direction.
Image source: Alpino Instagram
Here are other companies from Season 1 Episode 25.
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