The Cinnamon Kitchen, an Indian vegan bakery, secures ₹60 lakh ($72,000) from Aman Gupta on Shark Tank India
The Cinnamon Kitchen's first funding on Shark Tank India from boAt founder Aman Gupta
Founder Priyasha Saluja impressed the sharks with The Cinnamon Kitchen (TCK), her Delhi-based vegan bakery offering plant-based, organic, and gluten-free treats.
She claimed TCK is India’s first 100% gluten-free, preservative-free, refined sugar-free, and flour-free plant-based D2C brand, which was featured on Shark Tank India Season 3 and gained attention for her academic achievements
Vegan bakery The Cinnamon Kitchen
It started as an Instagram page sharing her healthy eating journey and grew into two full-service bakeries in Delhi and Mumbai, generating a revenue of 6 crore. Now the brand is well known to popular indian vegan bollywood celebrities such as Sonam Kapoor Ahuja and Malaika Arora.
Founded in 2018 after her PCOS diagnosis, the bakery began with ₹50,000 ($602) and gained notice on Shark Tank India Season 3. With a $72,000 investment from boAt founder Aman Gupta, the company’s value reached ₹12 crore ($1.44M).
Also Read : India’s first vegan millet-based cold brew latte
Before starting The Cinnamon Kitchen, 28-year-old Priyasha excelled in her studies and worked in marketing at Asian Paints after graduating in 2016. She also interned with PwC for three months before landing a job at Dentsu Aegis Network as a social media specialist.
Then, The Cinnamon Kitchen was created as Priyasha Saluja experimented with healthy treats to manage her PCOS condition, drawing on her diverse knowledge and professional experiences. In 2019, her husband joined the business, and together they now offer a variety of products including cookies, vegan Cheddar chips, granola, cakes, crackers, fudge, and flours.
Also Read : 13 Best Plant-Based Protein Sources: Fueling Your Vegan Journey
Investors were impressed with the pitch, especially since Saluja had already felt confident during her first walk towards the tank, surrounded by lights and cameras. She mentioned on LinkedIn that entrepreneurs get two chances to enter the tank but must deliver their pitch in one take only.
Priyasha initially pitched for Rs 60 Lakhs in exchange for 2% Equity at a valuation of 30 Crores for her vegan bakery business. Although Shark Aman Gupta hesitated at first, Priyasha’s impressive credit score prompted him to consider offering debt instead.
However, Priyasha expressed a preference for equity. After negotiations, they settled on a deal where Aman would receive 5% equity in exchange for an investment of Rs 60 Lakhs. This agreement was reached based on a valuation of Rs 12 Crores for the Cinnamon Kitchen, ultimately closing the deal.
This successful negotiation landed the vegan bakery a Shark Tank deal in India, aligning with Indian preferences for plant-based foods in a $42M market in 2022.
