Two entrepreneurs stepped onto the Shark Tank India stage, hoping to expand their restaurant chain beyond Delhi-NCR. Brothers-in-law Ranjit and Tarun introduced Gabru Di Chaap, a brand specializing in soya chaap dishes. Their vision was to take this North Indian favorite to a national level. Seeking an investment, they proposed ₹70 lakh for 1% equity, valuing their business at ₹70 crore. However, not all the sharks were convinced.
Kunal Bahl, while expressing his love for chaap, questioned its appeal as a regular dine-out or delivery option. Aman Gupta openly admitted that chaap was never his first choice when eating out. He saw it as a niche product rather than a mainstream favorite. Peyush Bansal raised more health concern. He referenced a viral video that exposed unhygienic chaap manufacturing practices. He worried about quality standards in the industry and how that might impact consumer trust.
The founders defended their brand, stating that they were India’s first ‘premium chaap brand.’ Unlike street vendors who use refined flour, their product contained 23% soya, making it healthier. Vineeta Singh suggested a shift in branding, advising them to emphasize their unique ingredients rather than focusing on the ‘premium’ tag.
The conversation turned to the company’s resilience. While many restaurants struggled during the pandemic, Gabru Di Chaap not only survived but saw revenue climb from ₹1 crore to ₹7 crore. The founders projected further growth, expecting sales to hit ₹12 crore within a year. The sharks recognized their persistence and hard work, acknowledging the challenges of the restaurant industry, especially in uncertain times.
Despite his earlier reservations, Peyush appreciated their commitment to quality, even at the cost of lower profits. However, he mentioned a personal hesitation towards investing in quick-service restaurants (QSR). He revealed that his family still associated chaap with non-vegetarian food, making it a tricky category. “I’ve always avoided QSR investments,” he admitted. But, breaking his own rule, he extended an offer of ₹70 lakh for 5% equity.
Vineeta and Anupam Mittal also showed interest and presented separate offers. The founders, wanting a stronger backing, asked if the sharks would consider a joint investment. After deliberation, Peyush, Vineeta, and Anupam teamed up to present a new deal, ₹1.4 crore for 6% equity, along with a 1% royalty until their initial investment was recovered.
The offer was tempting, and the founders saw the value in having three sharks on board. Without hesitation, they sealed the deal, leaving Shark Tank India with not just funding but also strategic guidance from experienced investors.