Normally we see Shark Tank India pitches from young entrepreneurs. But this article is a bit different as its founder is not our typical young guy from Delhi.
The company name is Morriko Pure Foods Private Limited. The company was founded in 2016 but started its normal production in 2018.
Kalyani Shah is the Director and co-founder of Morriko Pure Foods. Tanmay Shah is the founder and CEO.
Bipin Shah is another Director of the company. He gives guidance to operate the business. His understanding of raw materials is outstanding. He visits the market himself and checks the produce himself even in his old age.
Sharks were really surprised to see him this fit even at this age.
Bipin Shah founded Kamdhenu Foods in 2002. But the journey wasn’t easy. There was a time when they literally had to stop 90% operation of the company. But throughout time, they recovered from it. And formed Morriko Pure Foods.
Kalyani and Tanmay came to Shark Tank to fulfill their father’s dream.
So, the Shah family identified a problem in the agriculture sector. Every year almost 15% of production is considered waste. For this, farmers have to endure losses every year. To minimize the loss and solve this problem, Morriko Pure Foods is working day and night.
In the market, the food that looks good and doesn’t have any damage will be sold instantly. Then the food which looks less pretty will be sold. But the foods that don’t look appealing but are full of nutritional value don’t get sold.
Morriko Pure Foods ties up with different farmers collects the fruits and gets them in their warehouse.
Sun is available all the year in India, solar panels can be used to make food-related products. That’s what struck Bipin Shah’s mind. That’s how Kamdhenu Foods was formed. They make different bars, rolls, slices, and powders from fruits.
They came to Shark Tank India asking for ₹1 Crore in exchange for 3% of the company.
In lifetime, and by lifetime I meant from 2018 to the present day, their sales figure is ₹5.95 Crores.
|2020 – 2021||₹1.43 Crore|
|2021 – 2022||₹1 Crore (6 months)|
They work in both B2B and B2C channels.
B2B is their main channel. They are suppliers of many major brands.
But they couldn’t crack B2C that much. They sell through Amazon. The sharks thought they could help them in building B2C.
If you look at the number you might think that their sales are low. I mean, they should’ve had more sales than this. But Tanmay answered this question nicely. He said it took a lot of time to educate people about the healthy part of these food products. Now after the pandemic, they are seeing huge growth.
Namita Thapar was out of this deal. Because she doesn’t have any expertise.
The remaining 4 sharks gave 1 combined offer. So, the offer was Anupam Mittal, Ashneer Grover, Peyush Bansal & Aman Gupta ₹1 Crore for 25% equity of the company. Basically, the sharks wanted to become the 4th partner of the company. As they didn’t previously take any investments from anyone.
|Anupam Mittal, Ashneer Grover, Peyush Bansal & Aman Gupta – ₹1 Crore for 25%|
They gave a counteroffer of ₹1 Crore for 8% but the sharks didn’t budge. So, they politely declined.
They are very genuine people. I wish them all the best with their brand.
|Company Name||Morriko Pure Foods Private Limited|
|Founder||Bipin Shah, Tanmay Shah & Kalyani Shah|
|Asked Amount||₹1 Crore for 3%|
|Current Net Worth||₹33.33 Crores|
|Company Status||In Business|