Cakelicious Shark Tank India Pitch:
Cakelicious is an Indian cake startup that sells cakes in the tub, protecting them from smuggling. Their cake tubs come in 3 different sizes and offer 30 flavors, including Mango Mondays, Walnut Wednesdays, and more. At the time of the pitch, Cakelicious was operating 2 cloud kitchens and 1 retail store. Their cakes were available through quick ecommerce and their own website. They sell 500 cake tubs per month and have served over 2 lakh customers since their inception. The founders sought an investment of ₹25 Lakhs for 5% Equity, asking for a valuation of ₹5 Crores.
Cakelicious also makes gluten-free cakes, and sharks loved their cakes. Fatema shared that the base of the cake is a 90-year-old recipe that Duriya learned from her mom. Additionally, their cakes have no preservatives & premixes. Their cakes have a shelf life of 2 weeks at -15 degrees Celsius or below. Cakelicious made ₹2 lakhs in July 2022, followed by ₹2.5 Lakhs and ₹3 Lakhs in August and September respectively. Their ₹300 cake costs ₹140 to make, giving them a gross profit of 60% and a net profit of 40% after expenses. They have an 80% repeat rate.
Cakelicious Shark Tank India Negotiations & Funding:
Aman felt like Cakelicious as a business did not need an investment, so he went out of the negotiations. Peyush shared the same sentiment and added that it’s too early to take any investment. Anupam liked the concept but felt he wouldn’t be able to help entrepreneurs in any way, so he goes out. Namita shared the same sentiment as Anupam and goes out as well.
Amit gave the first offer as he loved the product and was inspired by Fatima’s story. Amit offered ₹15 Lakh for 15% of the company and the rest as debt interest-free. This gives their company a valuation of ₹1 Crore. Fatima wanted to call her father, and after their chat, she came back with the counteroffer of ₹25 Lakhs for 15%, to which Amit countered with ₹25 Lakhs for 20% of the company, which entrepreneurs accepted, and they shook hands on ₹25 Lakhs for 20% of the company, giving them a valuation of ₹1.25 Crores.
Who are the founders of Cakelicious?
Duriya Barodawala & Fatema Barodawala founded Cakelicious. They are based in Kolkata. Fatima shared that baking was always her passion, and she turned her passion into a profession along with her mother. Fatima has a bachelor’s in computer education. Duriya is the head chef in the company.
How is Cakelicious doing after Shark Tank India?
Our research in the company revealed that despite the initial commitment, their deal with Amit Jain did not close after the show aired. Despite that, the company is still in business and growing. They have partnered with many cafes across India where they sell their cakes. Along with that, the company has also expanded into macarons which can be purchased in bulk for parties, etc.
Source: Instagram @cakelicious_sharktankindia
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