|
VMPL
New Delhi [India], March 13: In a recent episode of 'Shark Tank India 3,' Uncle Peter's Pancakes, a Cloud Kitchen, and Restaurant Chain from Bangalore, secured a significant investment from Anupam Mittal, CEO of Shaadi.com, Vineeta Singh, CEO, and co-founder of Sugar Cosmetics and Namita Thapar, CEO of Emcure Pharmaceuticals and made history as the first quick-service restaurant to get a deal on Shark Tank India. Founded in 2019 by Sundeep Singh and Akashdeep Dan, Uncle Peter's Pancakes aims to bring authentic international standard pancakes to Indian households. To accommodate the diverse choices of the Indian market, the restaurant offers over 15 varieties of pancakes, including stack pancakes, filled pancakes, lava pancakes and coin pancakes. The menu includes classic pancakes along with healthy, gluten-free and vegan options. The pancakes are made with the freshest and highest-quality ingredients, ensuring a premium taste even without using eggs. Started as a cloud kitchen in 2019 in Indira Nagar, Bangalore, Uncle Peter's Pancakes has sold over 15 lakh pancakes to date, becoming India's most popular and largest homegrown pancake brand. Currently, the brand has over 40 outlets in 15 cities, including 12 cloud kitchens, 25 QSRs and 3 kiosks, with plans to open more quick-service restaurants in other metro cities. Out of these, 5 outlets are company-owned and 35 are franchise-owned. The brand has profitable outlets for both company-owned and franchise models, with an average rating of 4+ on Swiggy, Zomato and Google. Entering Shark Tank with an initial ask of Rs 60 lakh for a two per cent equity stake, Sundeep and Akashdeep showed how their pancakes are made using wheat and oat flour, demonstrating the technicalities and formulations that ensure consistency in texture and taste. They served their signature dishes to the sharks - like pancake cereal bowls, blueberry garden pancakes, tiramisu pancakes and fresh fruit pancakes, which was applauded by all the sharks for their quality taste and consistency Uncle Peter's Pancakes bagged the 3 sharks deal based on being profitable and developing a good ecosystem for their franchise network to grow. Sundeep mentioned that more than 85% of the franchise models are profitable, with 25% making a monthly profit of Rs 85,000 to Rs 1,00,000. Sundeep and Akashdeep outlined plans for expanding in and capitalising on their home city, Bangalore, before venturing into new cities. In their pitch, founders Sundeep Singh and Akashdeep Dan asked for 2% equity at a valuation of 30 Crores. After negotiations, the sharks finalised the deal, acquiring a three per cent equity stake in the business at the valuation of 20 Crores. The brand's mission is to offer authentic premium quality pancakes and an overall excellent experience at a value-for-money price. (ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same)
|
