Bakery Startup Cakelicious with Innovative Tub Cakes Secured a valuation of ₹1.25 Crores In Shark Tank.

Cakelicious

Three points you will get to know in this article:

  • Cakelicious in Kolkata sells cakes in tubs with 30 flavors, including gluten-free options.
  • Company operates 2 cloud kitchens, 1 retail store, earns ₹2-3 lakhs monthly with 60% profit margin.
  • they asked for ₹25 lakhs for 5%, but Amit invested ₹25 lakhs for 20%, valuing the company at ₹1.25 crores.

Cakelicious In Shark Tank India

Cakelicious logo

Cakelicious is an Indian startup that specializes in selling cakes in unique tubs, ensuring they stay safe from damage during delivery. They offer their cakes in three different sizes and have an impressive selection of 30 flavors, such as Mango Mondays and Walnut Wednesdays. As of their pitch, Cakelicious was running two cloud kitchens and one retail store. Customers can easily purchase their cakes through quick e-commerce services or directly from their website. They sell around 500 cake tubs each month and have delighted over 200,000 customers since they started. The founders are looking for an investment of ₹25 lakhs in exchange for 5% equity, which would give the company a valuation of ₹5 crores.

Click here to visit their official website: Cakelicious

Cakelicious also offers gluten-free cake options, and the sharks were very impressed with their products. Fatema mentioned that the cake recipe has been passed down for 90 years, originally taught to Duriya by her mother. These cakes are made without any preservatives or premixes. They can last for up to two weeks when stored at -15 degrees Celsius or lower.

Who are the founders of Cakelicious?

Duriya Barodawala and Fatema Barodawala are the founders of Cakelicious, a cake business located in Kolkata. Fatima revealed that baking has always been her true passion, and she decided to turn that passion into a career alongside her mother. She holds a bachelor’s degree in computer education, while Duriya serves as the head chef at the company.

Business Finances of Cakelicious

In terms of finances, Cakelicious earned ₹2 lakhs in July 2022, then increased to ₹2.5 lakhs in August and reached ₹3 lakhs in September. Each cake, priced at ₹300, costs ₹140 to produce, resulting in a gross profit margin of 60% and a net profit of 40% after covering expenses. Furthermore, they enjoy a high repeat customer rate of 80%.

Cakelicious Shark Tank India Negotiations & Funding

During the negotiations on Shark Tank India, Aman believed that Cakelicious did not require any funding, so he exited the discussions. Peyush agreed, feeling that it was too early for the business to seek investment. Anupam liked the idea but thought he wouldn’t be able to contribute effectively, leading him to withdraw as well. Namita shared Anupam’s views and decided to step out too.

Amit was the first to make an offer, expressing his admiration for the product and being inspired by Fatima’s story. He proposed ₹15 lakhs for a 15% stake in the company, along with additional funds as interest-free debt, valuing the company at ₹1 crore. Fatima wanted to consult her father before making a decision, and after their discussion, she returned with a counteroffer of ₹25 lakhs for 15%. In response, Amit adjusted his offer to ₹25 lakhs for a 20% stake. Ultimately, the entrepreneurs accepted Amit’s revised proposal, and they agreed on ₹25 lakhs for 20% of the company, which valued it at ₹1.25 crores.

How Cakelicious doing after Shark Tank India?

Our investigation into the company showed that, although there was a commitment, the deal with Amit Jain did not finalize after the episode aired. Nevertheless, the business continues to thrive and expand. They have formed partnerships with numerous cafes throughout India to sell their cakes. Additionally, the company has branched out into offering macarons, which can be bought in bulk for events and gatherings.

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