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Cakelicious has raised 25 lakhs for 20% equity of the company from shark tank season 2. Amit invested in this startup. Pitchers asked for 25 lakhs for 5% equity at the valuation of 5 crores.
Amit offered 15 lacs at 15% equity and 10 lacs debt at no interest. Pitchers gave a counteroffer of 25 lacs at 15% equity. Amit’s counteroffer was for 25 lakhs at 20% equity.
Also Read Medulance has raised 2 crores at 2% equity from shark tank season 2. Namith, Aman, and Peyush invested in this startup.
About Cakelicious
The founders of the company are Fatema Barodawala and Duriya Barodawala. They are from Kolkata. Fatima used to work as a home baker and enjoys baking cakes for family and friends. During covid, however, she left an abusive relationship and turned her passion into a career. Following this, she began working as a technician alongside her mother, Duriya. Fatima holds a bachelor’s degree in computer applications. She spent six months at Wipro. Duriya is the head chef.
Cakes are delicious, but customers are unhappy if they get smudged during delivery. As a result, they created cake tubs, which are cakes that are baked inside a box. Their cakes come in three sizes and 30 different flavours, such as mango Mondays and walnut Wednesdays. They started this company in their kitchen at home and now have two cloud kitchens and one retail store.
Cakes from cakelicious are available through quick commerce sites such as Zomato as well as their website. They sell 500 cake tubs per month on average. They have served over 2 lakh customers to date. Their vision is to make the cake a part of everyday sweet cravings rather than just special occasions. There are no preservatives or pre-mixes in the cake. Under -15 degrees Celsius or lower, the cakes will stay fresh for 2 weeks. Lotus Biscoff and Tiramisu cake tubs are their best-selling items.
Cakelicious Business Statistics
July sales are 2 lakhs, August sales are 2.5 lakhs, and September sales are 3 lacs. Their best-selling cake is priced at 350, with a manufacturing cost of 140, a gross profit of 60%, and a net margin of 40%. They made a profit of 80,000 last month. 40% of her sales are from Instagram ads, 30% from Zomato, 20% from the shop, and 10% from their website. The rate of repetition is 80%.
What Problem Do They Solve
Cakelicious – the most beautiful cakes in town aims to make the best designer cakes and other bakery products available to everyone at every nook and corner at affordable prices. All their cakes are handcrafted by their cake makers, who take all safety precautions and deliver the safest cake. Their cakes are also pet edible, allowing your pet to attend and participate in family gatherings. Their variety of products: Cake, Pastries, Fluffy Pies, Macrons, Muffins and Cake Tubs.
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