Amore Has Raised INR 75 Lakhs From Shark Tank season 2. Anupam has invested in this startup. Pitchers made an ask for 75 lakhs rupees for 4% equity in the company.
With the condition that Amore will make a revenue of 80 lakhs rupees per month before March 2023, Anupam offered 75 lakhs for 7.5%, And the deal was done with the same offer.
Also Read https: Geeani has raised INR 1 crore from shark tank season 2. Aman, Anupam and Vineeta invested in this startup.
About the Amore
The founder, Yasser, was born and raised in America. He lived there for 24 years, but now he lives in Mumbai. He came back to India to work as a Social worker. Nayeer Hussain is from Hyderabad but lives in Italy. Both met each other while Yasser was working as a social worker. The co-founder and technical director of the company is Costanzo Malatto. He is the chef who prepares these varieties of gelatos.
Amore was started in India in 2006. In Italy people like to have gelato on a large scale. Therefore they came up with the idea of introducing one of the favourite dishes of Italy in Mumbai. They came with a vegetarian gelato brand. They make their products completely from natural ingredients. With B2B businesses, and supply their products to cafes, restaurants etc. They aim to make affordable gelato for the Indian people. With the 6 outlets to date, the average price of one scoop is 60 to 70 rupees. They considered closing or transforming the business during the covid era because the sales dropped by 95%. Yasser has 50% of the equity. Nayeer has 30%. Management has 5%, and an angel investor of America has 15%.
Amore business statistics
Amore has already planned to expand their business in five of the major cities in India; Hyderabad, Mumbai, Pune, Bengaluru and Delhi. In September 2022, the sales were 35 lakhs rupees, which includes 5 lakhs rupees from dark stores. Before covid, the sales were 6 crore rupees per annum. They have raised 2.2 cr. Rupees at a pre-money valuation of 7.3 cr. Rupees. This year Their projected revenue is 6 crore rupees, and next year is 21 crore rupees.
What’s special about Amore
One of the favourite dishes in Italy has been introduced by Amore. It is an authentic vegetarian gelato and sorbet company. It is the best Gourmet Italian ice cream parlour online, which offers a wide range of healthy gelato ice creams, preservatives free & 100% natural.
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