- Founder: Aditi Madan “Momo Mami” , Rohan Singh, Naveen Pawar
- Business: Frozen Momos
- Ask: ₹50 Lakh for 5% equity
- Valuation/ Networth: ₹10 Crores
- Funding: ₹75 Lakh for 16% equity
- Sharks: Ashneer Grover, Aman Gupta & Vineeta Singh
- Episode: Season 1 Episode 1
Bluepine Foods/Momo Mami Shark Tank Pitch:
BluePine Foods Private Limited is a well-known business entity in the market that was established in 2016. They specialize in the manufacturing of a wide range of food products, including Frozen Veg Momos, Frozen Spring Rolls, and Frozen Non-Veg Momos. Its Founder Momo Mami has also been contestant at Reality show, Masterchef.
Originating from the Himalayas, Momo Mami had already established a promising business in Delhi before appearing on the show, with sales of over 80,000 Momos. She had a well-established supply chain with hotels, restaurants, and Quick Service Restaurants (QSRs). Her vision was to make her brand the number one Himalayan food processing company. Over the course of five years, they achieved sales of INR 3.60 crores, with yearly breakdowns of 9 lakhs, 27 lakhs, 47 lakhs, 74 lakhs, and 1.05 crores, respectively.
Bluepine Foods/Momo Mami Shark Tank Negotiations & Funding:
The sharks were impressed by the taste and quality of the momos, as well as the revenue and growth of the company. However, they also had some concerns about the valuation, the branding, and the scalability of the business. They also suggested that the company should focus more on the B2C segment and leverage Aditi’s popularity as Momo Mami, her online persona.
After some negotiation, three sharks made an offer to invest in BluePine Foods: Ashneer Grover offered Rs 75 lakh for 16% equity, Vinita Singh offered Rs 75 lakh for 16% equity plus mentorship, and Aman Gupta offered Rs 75 lakh for 16% equity plus distribution support. The founders accepted the offer from Vineeta Singh, who said she was drawn to their passion and vision.
How is Bluepine Foods/Momo Mami doing After Shark Tank India?
Momo Mami’s deal with the sharks successfully closed, and the brand continues to thrive in 2023. The brand has received mentions on the show several times. While specific financial figures for the brand are unknown, a recent update from Business Standard suggests that the brand is experiencing rapid growth.
According to Business Standard in October 2023, Factacy Private Limited, a leading provider of AI solutions for businesses, announced their collaboration with the renowned food manufacturing company, BluePine Foods Private Limited. This strategic partnership aims to leverage Factacy’s on-demand AI technologies to enhance BluePine Food’s QSR brand, Yangkiez by Momo Mami, by scaling food production processes, driving growth, and further enhancing their reputation for delivering authentic Himalayan Handcrafted Momos & Dumplings and high-quality frozen food items.
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Source: Instagram @bluepine_foods
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