Image Credits: Shark Tank India
Last updated on 28 February 2023. Find everything about Makino Foods’ pitch on Shark Tank India, its founders, and the latest updates about the company!
Makino Foods on Shark Tank India
Are you also bored with regular chips? Then, Makino might have something ‘make in original’ snack for you.
Here are the key details about their pitch on Shark Tank:
| Name | Makino Foods |
| Founder | Priyank Patel |
| Episode | Season 02 Episode 41 |
| Ask | ₹2 Crores for 2% Equity |
| Deal | No Deal |
| Sharks | NA |
| Status | In-business |
Makino is India’s first own Nachos and Corn chips brand launched in 2018. Their nachos have 40% less oil than regular potato chips, are gluten-free, and MSG-free, and have zero cholesterol and trans fat.
They have more than 8 flavours in just Nachos, as well as Corn chips and Nuts. If this is your first time with Makino, you should go for Cheese flavoured Nachos, pack of 3, on Amazon (*Affiliate Link):
Or buy it by clicking here: https://amzn.to/3IWQQ3Y
*Affiliate Link means that we get a certain percentage from the sale when you purchase through our link.
The founder brothers asked for ₹2 crores for a 2% stake. The aim is to be the biggest PAN-India choice for Nachos in the country. For that, they need expertise in expanding distribution and branding.
Like most products, each shark liked the taste. The market is still growing in India, so it has much potential. Here, Makino is increasing its share by introducing more flavors.
The revenue for FY 2021-22 was around ₹19 crores but still, they are just breaking even, which means no profit. This is because they spend a lot on manufacturing and on the sales team. Even the future prospects on the net margin looked bleak.
Still, Anupam was not so sure about how it is safe for kids. Namita was already an investor in Tagz from Shark Tank. Aman didn’t agree with their valuation.
There was also a huge ₹15 crore loan they took. Still, Vineeta wanted to invest. She talked with Peyush to offer. But then, they found out that there was more money that they have spent on it. So, both revoked the offer immediately.
Watch the main pitch here:
Makino Foods left the Shark Tank without any deal.
About The Founder
Priyank Patel is the founder and CEO of Makino, which is a brand under Recorn Foods, based in Gujarat.
He came with his 3 brothers: Ankit manages E-commerce and branding, Keval looks after modern trade & HoReCa, and Ronik supervises production and logistics. Above all, Priyank is the head who also handles the exports.
Talking about academics, Priyank has done an MBA from the Great Lakes Institute of Management. Ronik did his PGDM in Entrepreneurship from EDII, and Keval also studied the same from XLSR, Jamshedpur.
After Shark Tank Updates
Even without a deal, they must have gotten a very big boost in sales after the show.
By the way, other businesses featured in this episode were Trunome, Wol 3D Pens, and What’s Up Wellness Gummies.
Before ending this blog, let’s check the official company pitch: “At Makino, we are committed to revolutionizing the way you snack. We believe that snacking can be both delicious and healthy. Our core values are to include the essence of perfection in every task we do along with maintaining strong work ethics in all decision-making processes.”
Takeaways
So now you know about Makino Foods’ pitch on Shark Tank and how well they are doing right now.
I am Ranish Chauhan a.k.a. Fulmino Fan, and I am also a fan of Shark Tank India.