Delhi-based bakery 'The Cinnamon Kitchen' secured a deal on 'Shark Tank India' Season 3 for Rs 60 lakh. The bakery, followed by Bollywood celebrities like Sonam Kapoor, Arjun Kapoor, and Malaika Arora, offers plant-based, organic, and gluten-free treats. The founder, Priyasha Saluja, sought Rs 60 lakh in exchange for a two percent equity stake in the business.
The presentation included a tasting session, with Priyasha offering Aman Gupta, co-founder and CMO of BOAT, her range of flourless almond butter cookies, fudge, apple crumble cake, and vegan cheese chips. The Sharks expressed concerns about packaging and labeling, emphasizing the need for improvement.
Priyasha shared details about the company's growth, stating that sales were expected to close at Rs 6 crore for the current year. Aman Gupta made an initial offer of Rs 10 lakh for 2 percent equity plus Rs 50 lakh in debt at 12 percent interest for two years. The final deal was sealed with Aman offering Rs 60 lakh for a five percent equity stake.
'The Cinnamon Kitchen' focuses on offering nourishing delights with a range of spreads, snacks, cookies, cakes, and breads that are plant-based, organic, and gluten-free. Priyasha started the venture in 2018, inspired by her personal battle with PCOS at the age of 13. The bakery has seen steady growth, and participating in 'Shark Tank India' is expected to further boost its visibility and prospects.
(With Agency Inputs)