What Happened to MOPP Foods After Shark Tank India?
When you’re hungry what do you do? You make something in your kitchen quickly and fill your appetite. But what if you don’t want to do that and order something from outside? That can be a choice for popular options like burgers, and pizza.
What is MOPP Foods?
But what if you want to have some delicious Paratha and Pakoda on your doorstep? That’s where Mopp Foods comes in place.
Who is the Founder of MOPP Foods?
Gaurav Gupta & Geetika Anand Gupta are the founders of MOPP Foods. It’s basically a Paratha & Pakoda brand. You’ve seen popular brands growing based on burgers, pizza, and lasagna.
But Paratha & Pakoda-based brand? That’s got to be the first of something like this.
MOPP Foods Before Shark Tank India?
They’ve spent 14 years in Dubai. After coming to India they wanted to try authentic desi paratha. But Geetika couldn’t find any trusted brands that are mainly dealing with paratha. That’s when the idea clicked in her mind and she wanted to make her very own company to serve authentic paratha.
The sharks thought the MOPP brand could sound conflicting with the word Mop. Mop sounds like the cleaning process and it doesn’t sound good while associated with a food brand. However, the founders were flexible with this name. If required, they can change the name in the future.
How to get MOPP Foods?
They operate in cloud kitchen format. Currently, they have 3 variants. MOPP stands for Mad Over Parathas & Pakoda. They have a 2nd variant, which is Mealy, which deals with everyday meals for people. And I’m not finished yet. They have a 3rd variant as well, which is Mad Over Curry. Under Mad Over Curry, they serve authentic north Indian curries.
Till now, they’ve delivered 3.5 Lakhs orders. They are delivering 25,000+ orders each month.
How much money did they ask for MOPP Foods?
They came to Shark Tank seeking ₹75 Lakhs in exchange for 2.25% of the company. Which gives the company a valuation of ₹33.33 Crores.
Their top-selling paratha is Alu Peyaj Paratha. They have another vegetarian paratha on their shelf, which is the Italian Twist Paratha. They have also Butter Chicken Paratha. They have butter chicken pakoda.
Price of MOPP Foods
The alu peyaj paratha comes in ₹149. With ₹20 packaging, the total cost comes to ₹169.
They have a magical recipe that keeps the paratha crisp.
They started the MOPP journey in May 2019. That time they got Rahul Singh (Founder of Beer Café) as a mentor & advisor.
How much money did they raise for MOPP Foods?
In January 2020, they raised the first seed round for MOPP. Rahul Singh invested ₹71 Lakhs at ₹5 Crores pre-money valuation.
Then in November 2021, they raised another ₹70 Lakhs at ₹12 Crores valuation.
In March 2022, they raised another ₹60 Lakhs at ₹12.5 Crores valuation.
In July 2022, they raised another ₹55 Lakhs at ₹22 Crores valuation.
| Time | Money Raised | Valuation |
| January 2020 | ₹71 Lakhs | ₹5 Crores |
| November 2021 | ₹70 Lakhs | ₹12 Crores |
| March 2022 | ₹60 Lakhs | ₹12.5 Crores |
| July 2022 | ₹55 Lakhs | ₹22 Crores |
They made a collaboration with Rebel Foods. Under their Launcher program, they support brands that have high potential. And MOPP Foods was in that Launcher program.
Equity split of MOPP Foods
They both have 61% equity combined. 9.3% equity is kept for ESOP. Angel investors have 20% equity. Advisory has 6.5% equity. India Accelerator has 3.2%.
Their monthly run rate is ₹60 Lakhs. Their average growth rate is 20%.
Which shark gave MOPP Foods an offer?
Namita Thapar was the first one to get out. She doesn’t have any expertise or interest in the food area. That’s why she didn’t want to invest in this business.
They are not making any profit at the moment. They are burning ₹3 Lakhs per month.
Anupam Mittal was the 2nd one to get out. He thought in the long run, it would be very difficult to make a profit in this business. If he invested in the business, he wouldn’t get the proper monetary return he wanted. That’s why he was out.
Unit Economics of MOPP Foods
| Food & Packaging | 35% |
| Zomato & Swiggy | 25% |
| HR Cost | 12% |
| Rental & Maintenance | 3% |
| Fuel & Electricity | 7% |
| Miscellaneous | 3% |
| EBITDA | 15% |
Unit Economics
Peyush Bansal said they have currently 3 Brands under their name. If they had 1 Brand he would have invested there. But at the moment he was out.
Aman Gupta was out as well.
The only shark left was Amit Jain. He asked a few more questions. Like what’s their plan for the next year. Gaurav said he wanted to reach ₹100 Crores next year by adding 40 more kitchens. He plans to earn ₹2-₹2.5 Crores per kitchen.
| Offer 1 |
| Amit Jain – ₹50 Lakhs for 5% & ₹25 Lakhs debt |
Amit Jain gave an offer. He offered ₹50 Lakhs for 5% equity in the company. Which gives the company a valuation of ₹10 Crores. And the remaining ₹25 Lakhs will be in debt.
The founders came up with a counteroffer of ₹75 Lakhs equity for 5%. They didn’t want the debt part.
| Company Name | MOPP Foods |
| Founders | Gaurav Gupta & Geetika Anand Gupta |
| Asked Amount | ₹75 Lakhs for 2.25% |
| Final Deal | ₹75 Lakhs for 5% |
| Shark | Amit Jain |
| Company Net Worth | ₹15 Crores |
| Company Website | https://moppfoods.com |
| Company Status | In Business |
What deal did MOPP Foods get in Shark Tank India?
The deal was closed at ₹75 Lakhs for 5% of the company.
