- Founder: Aditya Rai and Advaith Siddharth Inamke
- Business: Bacon Jams
- Ask: ₹40 lakhs for 10% Equity
- Valuation/Net worth: ₹4 Crores
- Funding: ₹40 lakhs for 20% Equity
- Sharks: Ashneer Grover, Vineeta Singh, Gazal Alagh & Namita Thapar
- Episode: Season 1 Episode 34
Nomad Food Project Shark Tank Pitch:
Nomad Food Project, a jam brand, made its appearance on Shark Tank India Season 1 Episode 34, with founders Aditya Rai and Advaith Inamke seeking a ₹40 lakh investment in exchange for a 10% equity stake in their company. Their jams feature pork with an Indian flavor giving them a unique twist. Nomad Foods had total of 12 SKUs, with 5 of them being pork-based, alongside some vegetarian products. The Nomad Food Project started as a research project when Aditya and Advaith were in college.
They began their venture in 2019 and made ₹9.5 lakh in their first year, running it on the side while holding jobs. Their second year saw earnings of ₹11 lakh, and in 2021, they generated ₹46 lakh, with projections to reach ₹50 lakh by the end of the year. Vegetarian products account for 10-15% of their business, with the majority coming from non-vegetarian products.
Most of their vegetarian jams cost ₹300, while bacon products range from ₹350-400. The majority of their sales come from their own website. At the time of the pitch, they had around 10,000 Instagram followers. They have also collaborated with hotels like Hyatt and Oberoi. They allocate 20-25% of their revenue to marketing and maintain a gross margin of 70%.
Nomad Food Project Shark Tank India Negotiations:
Namita and Vineeta make the first offer of ₹40 lakh for 20% of the company. Peyush, Aman, and Anupam combine to counter Namita and Vineeta’s offer and also offer ₹40 lakh for 20%. Gazal offers ₹40 lakh for 15%, but Namita suggests that Gazal join them, to which Gazal agrees. Ashneer also asks if he can join Namita’s deal. This was one of the rare moments where all sharks gave offers to the company. After a brief discussion, the founders come back and accept the offer from Namita, Vineeta, Gazal, and Ashneer for ₹40 lakh at 20% of the company.
How is Nomad Food Project doing After Shark Tank India?
Our research revealed that Sharks indeed closed their Deal with the company after the Shark Tank India episode aired. Nomad Food Project is thriving after Shark Tank, and as of November 2023, they have over 17,000 Instagram followers and have expanded their business globally. They have also launched new products such as Beef Jerky and Chicken Chips to diversify their product portfolio. Namita Thapar shared on her Instagram that the company has grown threefold in the six months following their appearance on Shark Tank.
Source: Nomad Food Instagram
Here are other companies from Season 1 Episode 34.