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Monday, November 28, 2022

The Nomad Meals Venture’s Pitch on Shark Tank India (2022)

Each on occasion, we come throughout merchandise available in the market that not solely shock us however get us questioning, ‘why did not somebody consider this earlier than?’

That is precisely how we felt after we got here throughout the Nomad Meals Venture – a model that creates bacon thechas and relishes! 

The Nomad Food Project's Bacon Thecha

Supply: Nomad Meals Venture

Meat-lovers could have come throughout rooster or mutton thechas, however ready-to-eat bacon relishes have been nowhere to be seen in India. That’s when Aditya and Advaith, two IHM graduates, determined to experiment with bacon thechas for a analysis challenge.

After impressing the IHM jury, they realised that their recipes have the potential to be far more than a analysis challenge, ensuing within the creation of the Nomad Meals Venture.

From changing their analysis right into a worthwhile bootstrapped enterprise to showing on Shark Tank India, the duo has achieved lots within the three years of the model’s existence.

We linked with Aditya Rai and Advaith Inamke, founders of the Nomad Meals Venture, to get the within scoop on their Shark Tank India expertise.

En-route to Shark Tank India

Enjoyable Reality: The Nomad Meals challenge will get 95% of their gross sales by Instagram adverts. However who would have guessed that these adverts would even be their ticket to Shark Tank? Effectively, actually not them.

However that’s precisely what occurred. The Shark Tank India group got here throughout one in all Nomad Meals Venture’s Instagram ads, tried their bacon relishes; and the subsequent factor , the duo acquired an invite to take part within the present.

“We have been so stunned and, frankly, stoked to obtain the decision from the Shark Tank group. We’d have by no means imagined that an Instagram advert could be our gateway into such an enormous platform,” the duo share.

The Nomad Food Project's collaboration with Rolling in Dough

Supply: Nomad Meals Venture Instagram

Being bootstrapped from day one, Aditya and Advaith determined to just accept the invite to amass funding to scale their enterprise. The thought was to speculate 50% of the funding in upgrading their manufacturing unit, which was a rented house.

The duo recall that their complete Shark Tank journey lasted for near eight months, with a number of interview and follow periods. After being chosen as one of many 198 manufacturers to look on the present, the Nomads kicked off their pitch preparation.

The Pitch Follow

Aditya and Advaith shared that the pitch prep was an expertise in itself as they needed to current their pitch deck in Hindi. They spoke informal Hindi on a regular basis with their family and friends, however the slangish Hindi wouldn’t work in an funding pitch.

The fascinating a part of their pitch preparation section was explaining their hero ingredient itself. “How do you clarify bacon in Hindi?”, the duo puzzled. 

Fortunately for them, they obtained their message throughout in formal Hindi with none hiccups, all due to the Shark Tank India group, who helped the duo with their pitch prep.

What’s extra, Aditya and Advaith went in understanding that among the Sharks are vegetarians and would not even attempt their best-selling bacon merchandise. 

Not ones to be simply disheartened, the duo went the additional mile and included their restricted number of vegetarian relishes of their pitch too, which was sufficient to impress the Sharks.

The spotlight of the televised pitch – the Nomad Meals Venture acquired gives from all seven Sharks!

Aditya and Advaith presenting the Nomad Food Project on Shark Tank India

Supply: MX Participant

When watching their look on the present, we agreed that Nomad Meals Venture’s branding and product style have been clearly what impressed the Sharks. However the duo added that getting into with a sensible valuation additionally labored of their favour.

And the way did they give you the right numbers regardless of having no formal expertise with accounting? 

By counting on Shopify Analytics! “When getting ready the information for Shark Tank India, we may simply pull out all the knowledge we would have liked with ease.” That’s one of many the explanation why the duo has no plans on shifting on from Shopify.

Making Headway With Shopify and Shark Tank India

Nomad Meals Venture closed the cope with 4 Sharks (Vineeta Singh, Namita Thapar, Ghazal Alagh and Ashneer Grover) at 40 lakhs for 20% fairness. 

At the moment within the final levels of due diligence, the duo is worked up to begin working with the Sharks. Having 4 versatile consultants onboard means extra alternatives for the Nomad Meals Venture to develop right into a go-to bacon model they envision being.

“We need to create bacon relishes for each snacking phase”, the duo shares. Effectively, they have already got their best-selling thechas and marmalades within the portfolio. There are additionally plans so as to add extra vegetarian relishes and introduce customised combos sooner or later.

Their look on Shark Tank India has given them publicity and a gross sales enhance. What’s extra, the duo has acquired lots of love from folks on social media. And, in fact, there have been a number of distributor calls.

Curious to know extra, we requested Aditya and Advaith about their favorite Shark. “Ashneer is our favorite. He’s very clever and simple along with his remarks”, the duo claimed.

From taking an off-beat path of making out-of-box relishes to working their enterprise independently, Nomad Meals Venture proved that it’s doable to have a clean crusing path when you’ve gotten the precise instruments and assist.

And their journey has solely simply begun!

Be taught extra about Shark Tank India and the way it may be a studying expertise for D2C manufacturers

When you’re all set to embark in your entrepreneurial course, be part of Shopify’s 14-day free trial to get began.

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