The Momo Mami – The Newest Way to Eat Momos1 year ago Nethrikaa Greeshma
After their successful deal on Shark Tank India, Bluepine Food‘s Momo Mami has established themselves as a category leader in a new-found space of preservative-free, frozen momos.
The most awaited American series “SHARK TANK”, released in India, showcases the talent of budding Indian entrepreneurs, who pitch their business ideas to the “Sharks”. One such aspiring businesswoman is Aditi Madan from Darjeeling, Himalayas. She is the co-founder of Bluepine foods along with Rohan Singh from Jaipur who is a professional chef and Naveen from Rajasthan.
The main motto of this trio is to provide Natural, preservative-free, tasty, and yummy “Frozen Momos”. They have successfully been in this industry for the past 4 years providing Momos with a shelf life of 4 months. Over the last 4 years, they have scaled and produced over 80 lakh momos in hotels, restaurants, and caffeine centers. Their main specialty includes momos in different shapes and sizes and includes a range of vegan and gluten-free momos. Adding to this she even mentioned that she has “changed the way India eats” by selling Himalayan fusion, authentic, traditional, pure, and nourishing food: momos. Apart from this, their upcoming product range, “Yankees” has begun to be served in front-end quick-service restaurants, first started in Malvia Nagar.
Over the last 4 years, they clocked in a total of 3.6 crores, out of which they made 9 lakhs in the first year, 27 lakhs in their 2nd, 47 lakhs in the 3rd, and 74 lakhs in their next year along with the addition of QSR respectively. Hitting a benchmark amount of INR 1.09 Cr, the startup hit an all-time high. However, due to covid, their sales have fallen to INR 95 lakhs in the first quarter of the ongoing year. Nevertheless, they made INR 50 lakhs in the second quarter.
Cutting in a Shark Tank Deal
Thus, “THE MOMO MAMI”, Aditi Madan was there pitching to ask 50 lakhs investment for 5 percent equity in the company. After multiple rounds of discussions and counteroffers, they landed at an offer of INR 75 lakhs at a share of 16 percent shared by three Sharks! Her story is surely aspiring to many upcoming women entrepreneurs and we wish her the best of luck in her future endeavors.