- Founder: Simran Bapu and Tina Bapu
- Business: Cakes
- Ask: ₹1 Crore for 6.5% Equity
- Valuation/ Networth: ₹15.38 Crores
- Funding: ₹1 Crore for 9% Equity + 1% royalties until they make ₹1 Crore back.
- Sharks: Vineeta Singh & Anupam Mittal
- Episode: Season 4 Episode 28
Paleoo Bakes Shark Tank India Pitch:
Paleoo Bakes is an Indian startup which appeared on Season 4 of Shark Tank India. The company have replaced maida in their products with almond flour & sugar with stevia. They make healthy gluten-free, sugar-free & dairy-free desserts. The founders sought an investment of ₹1 Crore in exchange for 6.5% equity in their company, valuing the business at ₹15.38 Crores.
Paleoo Bakes product line includes cakes, cheesecakes, cancakes & protein bars. Their products’ shelf life is 6 months, excluding their cakes, which are good for 1 month. The brand was started in 2020. Their best-selling products are cookies, banana walnut teacake & hazelnut crunch cake.
Paleoo Bakes Financials & Revenue during Shark Tank India:
Paleoo Bakes had a team of 17 people in the factory. They made revenue of ₹9 Lakhs in their first financial year, which was FY21-22. This was followed by ₹33 lakhs and ₹95 lakhs in FY23 and FY24 respectively. As for FY24-25, The brand has made a revenue of ₹1.57 Crores till October of 2024.
Paleoo Bakes makes a net margin of 39%. They are projecting to close current year with a 40% of net margin as well. They are projecting to close the year with around ₹4 Crores of revenue and ₹1 Crore in Profit after Tax. The company spends ₹1 lakh per month on their marketing.
The company makes the majority of its revenue through the D2C model, which brings in 55% of its sales. This is followed by food delivery platforms with 31% share & B2B with 14% share. They are also focusing on going to quick commerce next. They were completely bootstrapped at the time of their pitch.
Paleoo Bakes Shark Tank India Negotiations & Funding:
Vineeta and Anupam were the first sharks to put out an offer for Paleoo cakes. They offered ₹1 Crore in exchange for 10% equity and 1% royalties until they made their investment back. Peyush offered the exact same deal. Namita wasn’t confident to invest in the business; therefore, she went out of the deal. Aman went out due to not having a decent team.
The founders countered with no royalty but at ₹1 Crore for 10% equity. The Peyush accepted that counter, but he pushed the founders to make a decision then and there. The founders failed to do so; therefore, they were only left with one offer. Vineeta moved the equity to 9% for their offer, but they added that the royalties will stay as it is. The founders ended up accepting that offer and they shook hands at ₹11.11 Crore valuation.
Who are the founders of Paleoo Bakes?
Simran Bapu and Tina Bapu founded Paleoo Bakes.
How is Paleoo Bakes doing after Shark Tank India?
Our research in the Paleoo Bakes revealed that while they did get a deal on Shark Tank India, whether that deal closed after the show is still unclear. Early signs, however suggests that they are close to finalizing their deal with Anupam and Vineeta. They had 19.6k followers on Instagram at the time of their pitch, which has grown to 23.8k since then. You can check out their products by clicking the Amazon Link Below!
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