Delhi-based bakery ‘The Cinnamon Kitchen’, which supplies gluten-free and vegan treats to celebrities like Sonam Kapoor and Arjun Kapoor, recently struck a sweet deal on a business reality show Shark Tank India Season 3.
Founder Priyasha Saluja managed to secure Rs 60 lakhs in funding from boAt co-founder and CMO Aman Gupta in exchange for a 5% equity share in the business. She had entered the tank seeking Rs 60 lakhs for 2% equity.
The Cinnamon Kitchen aims to redefine indulgence with its range of organic, wholesome, and nourishing bakery products like spreads, snacks, cookies, and cakes. Started in 2018 with an initial investment of Rs 50,000, the brand hopes to make health-conscious baking mainstream.
During her pitch, Priyasha highlighted that all products are plant-based, gluten-free, and dairy-free while offering samples of popular items like almond butter cookies and vegan cheese chips.
When asked about scalability and sales figures, she revealed the brand clocked Rs 6 crore turnover last year, projecting over Rs 13 crore combined for FY2023 and FY2024. Aman’s offer of Rs 60 lakhs for a 5% equity share then sealed the deal.
On gaining backing from the boAt co-founder, an elated Priyasha said, “The valuable insights shared by the sharks on optimizing business operations were truly priceless. Their empathy towards challenges faced by early entrepreneurs deeply resonated.”
The investment from Shark Tank India will focus on expanding distribution networks and partnerships to widen The Cinnamon Kitchen’s reach. With Aman Gupta’s guidance, the brand also has sights set on becoming a household name for nutritious baking options.
