- Founder/Owner: Rounit Kashyap Gambhir
- Business: DIY food Kits
- Ask: ₹40 lakhs for 10% Equity
- Valuation/ Networth: ₹4 Crores
- Funding: ₹40 lakhs for 16% Equity
- Sharks: Namita Thapar, Peyush Bansal, Azhar Iqubal & Amit Jain
- Episode: Season 3 Episode 21
CHEFLING Shark Tank India Pitch:
CHEFLING is an Indian startup that appeared on Shark Tank India Season 3 Episode 21. The company provides customers with unique DIY kits that contain all the ingredients required to make tasty global dishes like Sushi, Ramen, Taco, lasagna, etc. The brand was started in August 2020, and they have sold over 5000 kits across India by the time of their pitch. Also, Their kits are available through their own website for purchase. Finally, The owner sought an investment of ₹40 lakhs for 10% of the company, valuing the business at ₹4 crores.
CHEFLING’s owner shared that their kits only come with non-perishable ingredients, enabling them to do pan-India delivery. He added that their hero product is DIY Sushi. Further, This product comes in three variants: the first is a kit for 2, which provides enough products to make 35 pieces; the second is a kit for 4, which can be used to make up to 50 pieces; and finally, a kit for 6, which is enough to make up to 75 pieces of Sushi.
CHEFLING Revenue & Financials during Shark Tank India:
CHEFLING has a lifetime revenue of over ₹60 lakhs. Further, The owner added that the company was started with initial investment from his mom. He added that he took it as a loan of ₹1.5 lakhs. It is important to note that all that revenue has only come from selling Sushi Kits, and they are just introducing the other products in the lineup in October 2023. Also, Their gross margin on Sushi Kits is at 70%, and net is around 50%. What’s more is that the company has made a revenue of ₹19.78 lakhs in FY22-23 with a net profit of ₹10 lakhs.
CHEFLING has a customer acquisition cost of ₹400. Their average order value is around ₹1400. Also, They have made ₹1.59 lakhs in revenue for October 2023. Further, They are projecting to close FY23-24 at ₹40 lakhs. The company is completely bootstrapped, and Rounit is the sole owner and owns 100% of the equity.
CHEFLING Shark Tank India Negotiations & Funding:
Namita and Azhar come in together to give the first offer of ₹40 lakhs for 20% of the business, valuing the company at ₹2 crores. Namita added that it was a 10X multiple of the company’s current revenue. Peyush liked the entrepreneur and asked Namita & Azhar if he could join them on their deal, which they agreed to. Amit didn’t understand the market but again wanted to join the owner on his journey, so he also joined Namita, Azhar, and Peyush’s deal.
Anupam gives the solo offer of ₹40 lakhs for 15%, and he added how he would join hands with all his businesses and promote them on his socials as well. Further, The owner takes a moment to think and comes back to counter at ₹40 lakhs for 15% to the four-shark deal. After that, Anupam revises his offer to ₹40 lakhs for 12%. Finally, Namita suggested that they could close at 16% for ₹40 lakhs, which Rounit agreed with, and they shook hands on ₹2.5 crore valuation.
Who is the owner of CHEFLING?
Rounit Kashyap Gambhir founded CHEFLING. He is based in Mumbai.
How is CHEFLING doing after Shark Tank India?
Our research into the company revealed that while CHEFLING did get a deal on Shark Tank, whether their deal with sharks closed after the show is still unclear. As of now, early signs suggest that their deal has collapsed, but they could still be in the due diligence phase. While their numbers are not yet public, we will update this article with more information as soon as it becomes available. In the meantime, you can check out Shark Tank India products by clicking the Amazon button below!
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Source: Instagram @cheflingindia
Here are other companies from Season 3 Episode 21.