In the recent episode of ‘Shark Tank India 3,’ The Cinnamon Kitchen, a Delhi-based bakery, secured a substantial investment of INR 60 lakh from Aman Gupta, Co-Founder, and CMO of boAt, a well-known electronics brand. As part of the deal, Gupta acquired a five percent equity stake in the business, marking a significant milestone for The Cinnamon Kitchen, known for its plant-based, organic, and gluten-free treats.
Established in 2018 by Priyasha Saluja, The Cinnamon Kitchen aims to redefine guilt-free indulgence with its range of spreads, snacks, cookies, cakes, and breads. The bakery, with a focus on creating nourishing delights that are both wholesome and irresistible, has garnered attention from Bollywood celebrities like Sonam Kapoor, Arjun Kapoor, and Malaika Arora.
Stepping into the Shark Tank with an initial request of INR 60 lakh for a two percent equity stake, Priyasha presented her tempting offerings to the sharks. Among them, Aman Gupta showed particular interest in the flourless almond butter cookies, fudge, apple crumble cake, and vegan cheese chips.
She mentioned, “Our products are free from gluten and dairy.” Aman inquired if it’s akin to home kitchen setups, to which she responded, “We operate from a factory in Noida sector 63. Our products are accessible online and at select retail stores. They are also stocked on Amazon and Blinkit.”
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However, Anupam Mittal of Shaadi.com and Vineeta Singh of Sugar Cosmetics expressed concerns about the packaging and labeling of the products.
Undeterred, Priyasha underscored the emphasis on packaged goods, pointing out the rising customer repeat percentage and average order value. When asked about scaling, she detailed plans for expanding distribution, extending shelf life, and securing deals with airports.
Fueled by Priyasha’s personal struggle with PCOS and a dedication to healthy living, The Cinnamon Kitchen’s journey has been truly remarkable.
Having started with an initial investment of INR 50,000 in September 2019, the bakery has showcased an impressive sales trajectory, reaching INR 6 crore for the current fiscal year. Aman Gupta initially proposed INR 10 lakh for a two percent equity share along with INR 50 lakh in debt at 12 percent interest for two years. However, he later revised his offer to INR 60 lakh for a five percent equity stake, ultimately sealing the deal.
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Reflecting on the ‘Shark Tank India’ experience, Priyasha conveyed gratitude for the invaluable insights and guidance provided by the sharks. She sees the show as a turning point for The Cinnamon Kitchen, anticipating a promising future for the brand.
Priyasha said, “Participating in Shark Tank India proved to be a significant turning point for my brand, ‘The Cinnamon Kitchen’. Beyond gaining exposure and securing investment, the valuable insights shared by the sharks on optimising business operations and propelling it to new heights were truly priceless.”
“Their kindness and empathy towards the challenges faced by early-stage entrepreneurs resonated deeply. I thoroughly enjoyed every aspect of the Shark Tank India experience and eagerly anticipate the promising future ahead for the brand,” she added.