“20% of Your Company, Non-Negotiable Hai” – Varun to HOOKd on Shark Tank India Season 5 Episode 45

On Shark Tank India, where audacious entrepreneurs present ground-breaking concepts to some of the nation’s leading investors, entrepreneurship and innovation collide once more. The firm HOOKd attracted notice in Season 5 Episode 45 with its novel approach to eating, introducing chips made completely of actual chicken rather than potatoes.

The creators entered the market with the goal of revolutionizing the Indian snack industry by providing a high-protein substitute for conventional chips. Given the growing number of health-conscious consumers and the ongoing growth of India’s enormous snack sector, HOOKd made a strong argument for a new category: meat-based chips.

Related: “Non-Negotiable Offer Hai, Counter Mat Dena” – Viraj to Awenest on Shark Tank India Season 5 Episode 44

Buzzinga Eco Foods is the parent company of the Delhi-based food business HOOKd. Innovative non-vegetarian snack options that blend flavor and health benefits are the company’s main focus.

The company was established in 2022 with the goal of addressing a prevalent issue among meat enthusiasts: the dearth of nutritious, high-protein snack options available in the Indian market. HOOKd adopts a different strategy from the majority of store-bought snacks, which are high in carbohydrates and produced from potatoes or processed grains.

The company launched the first chips made entirely of actual chicken breast in India, offering a crunchy, high-protein, low-carb snack.

The founders think that when consumers are snacking, they frequently want something tasty and crunchy, but they also want healthy options. By fusing the nutritional value of lean meat with the flavor of chips, HOOKd aims to close that gap.

Official Website – HOOKd

The flagship product of HOOKd is a protein-rich chicken chip that resembles classic potato chips in appearance and texture but has a whole different component base.

Key highlights of the product include:

• Made from 100% real chicken breast
• High protein content per serving
• Low carbohydrates compared to regular chips
• Crunchy texture similar to traditional snacks
• Designed for meat lovers and fitness enthusiasts

The product’s concept is straightforward: why not change consumers’ frequent snacking habits into healthier ones?

SKUs – 4

Price:

30 gm pack – Rs 120

10 gm pack – Rs 40

Monthly Run Rate – ~Rs 1.5 Lakhs

Monthly Burn – ~Rs 1.5 Lakhs

Since the brand was relatively new at the time of pitching, the founders positioned HOOKd as an early-stage FMCG startup with strong potential rather than a mature revenue-driven company.

On Shark Tank India Season 5 Episode 45, the owners of HOOKd presented the Sharks with a daring concept: a snack brand that substitutes protein-rich chicken chips for conventional potato chips. Their objective was to combine enjoyment with nutrition to establish a new snacking category in India.

In their opening remarks, the founders emphasized the enormity of India’s snack sector, which is valued at billions of rupees and is still expanding quickly. They did, however, highlight a significant weakness: the majority of snacks on the market are low in protein and high in carbohydrates. There aren’t many options for those who desire healthier options, particularly meat lovers and fitness aficionados. They launched HOOKd in response to this market need.

The founders showcased their signature product, crispy chips made entirely of actual chicken breast, to showcase their inventiveness. They clarified that the chips are made to provide the same crunchy munching sensation as regular potato chips, but with a lot less carbs and a lot more protein. The owners stressed that their product caters to customers who desire snacks that are both delicious and nutritious, and they provided samples for the Sharks to sample.

Market positioning was another important topic of conversation. According to the founders, HOOKd is marketed as a high-end protein snack brand that caters to urban customers, gym-goers, and those on high-protein diets like low-carb or keto. Additionally, they stated that they intend to sell via quick-commerce applications, online marketplaces, and direct-to-consumer platforms.

The idea piqued the Sharks’ interest, but they also voiced some reservations. Whether Indian customers will embrace chicken chips as a popular snack was one of the key concerns. Entering the non-vegetarian snacking market could present both an opportunity and a difficulty because the majority of packaged snacks in India are vegetarian.

The Ask

The original ask of the founders was Rs 50 Lakhs for 7% equity at the valuation of Rs 7.14 Crores.

Sharks Reactions

Shark Anupam didn’t like the taste of their snacks, thus, he opted out.

Shark Namita shared her experience about investing in snacks brand in initial years of Shark Tank. She could not get good returns from them. She backed out as well stating those reasons.

Shark Vineeta pointed out the difficulty in creating category from scratch. She said that it requires a lot of cash burning, thus she did not make any offer.

Shark Kunal could not see any “superpower” in the brand, it’s founders. He backed out as well.

Shark Varun Alagh, on the other hand, gave a non-negotiable offer with a condition pointing out his interest in building this brand – Rs 50 Lakhs for 20% equity at Rs 2.5 Crores valuation + condition of Akul joining full-time.

The founders were left with no choice but to accept Varun Alagh’s offer. The deal was closed at – Rs 50 Lakhs for 20% equity at Rs 2.5 Crores valuation + condition of Akul joining full-time.

Following their successful pitch, HOOKd will focus on scaling its presence in the Indian snack market by expanding distribution through quick-commerce, online marketplaces, and D2C platforms. With Varun Alagh’s investment and the condition of Akul joining full-time, the startup aims to transition from an early-stage venture into a mature FMCG brand.

The brand intends to solidify its position as a premium high-protein snack for urban consumers and fitness enthusiasts. By proving the viability of meat-based chips, HOOKd seeks to overcome the challenges of creating a new category and establish its chicken breast chips as a mainstream alternative to traditional snacks.