Image Credits: Shark Tank India
Last updated on 27 March 2022. Find out everything about BluePine Foods from ‘Shark Tank India’, its founder Aditi Madan & after the show updates here!
BluePine Foods on Shark Tank India
BluePine Foods is a Momos company that was started in 2016. They appeared on the shows’ first-ever episode.
Here are the key details about the pitch of BluePine Foods on Shark Tank India:
| Business Name | BluePine Foods |
| Founder | Aditi Madan |
| Episode no. | Season 01 Episode 01 |
| Ask | ₹50 lakhs for 5% equity |
| Accepted Offer | ₹75 lakhs for 16% equity |
| Sharks | Aman Gupta, Vineeta Singh & Ashneer Grover |
| Current Status | In-business |
‘BluePine Foods Private Limited’ is in the Frozen Momos business where they deliver Momos to Hotels, Restaurants and Cafes (HORECA).
They pitched their Darjeeling Momos on the show which they sell via both B2B and D2C channels. These Momos are made from natural Himalayan ingredients and contain no preservatives, with a shelf life of more than 4 months.
In the first 5 years, their revenue was more than ₹6 crores with about 60% coming from QSR in the last year.
They have sold more than 80 lakh Momos till the premiere of the show and are famous because of their traditional taste in Momos.
They have also expanded to the restaurant model with their ‘Yangkeiz’ outlets at Malviya Nagar, Delhi (that store is currently closed). You can get Frozen Momos delivered to you directly via their website.
BluePine Foods asked for ₹50 lakhs for 5% equity. They wanted the funding to open new outlets and to increase their working capital.
During the pitch, All the Sharks loved the taste of the Momos. Sharks Ashneer and Aman were quite interesting in the company. Later, Vineeta also wanted to be a part of the deal.
In the end, All 3 of them, Ashneer Grover, Aman Gupta & Vineeta Singh got the deal for ₹75 lakhs in exchange for a 16% stake. Each shark invested ₹25 lakhs individually.
About Founder Aditi Madan
Aditi Bhutia Madan is the co-founder of BluePine Foods. The other two co-founders are Rohan Singh and Naveen Panwar. She was born and raised in Darjeeling, West Bengal. Her initial investment in this business was just ₹5 lakhs.
In the past, Aditi has appeared in the popular cooking show MasterChef India Season 03 and got to the Top 10 contestants in her journey. She also participated in another MasterChef cooking show ‘Kitchen ke Superstar’.
Aditi is also known as ‘momo mami’, which is a title given by celebrity chef Vikas Khanna.
She has also received the ‘Indian Women Excellence and Leadership Award’ in 2019, and ‘Enterprising Entrepreneur of the Year’ in 2021. Their startup is also incubated under NSRCEL, IIM Bangalore.
After Shark Tank Updates
One day after the episode telecast, the website was flooded with demand. They were evening giving a 40% discount using the code ‘SHARKTANKINDIA’.
Aman suggested changing the business name to ‘Momo Mami’. Ashneer also advised to go into Cloud Kitchen and sell via online Food delivery platforms like Zomato & Swiggy.
Their current open Yangkeiz outlets are in Greater Kailash 1, Vasant Kunj, Gurgaon Sector 50, and NIT Faridabad. They are also running their B2B business as well.
By the way, other businesses pitched in this episode are Booz Scooters and Heart Up My Sleeves.
Let’s see what future updates we get from this business.
The official company product pitch is “We are affianced in manufacturing a wide range of food products like Frozen Veg Momos, Frozen Spring Rolls and Frozen Non-Veg Momos. The offered range of products is highly appreciated by our cherished clients due to certain factors that include superb taste, healthy, nutritious and good quality etc.”
Takeaways
So now you know about BluePine Foods from Shark Tank India Season 01 Episode 01 latest updates and their founder Aditi Madan.
This food company has great growth potential during this online food-delivery economy and increasing demand for Momos in most parts of the country. Stay tuned for the latest updates!
I am Ranish Chauhan a.k.a. Fulmino Fan, and I am also a fan of Shark tank on Instagram.