Shark Tank India S3: Creme Castle a Mother and son duo from Gurgaon bags the deal!

Customized cakes are a significant aspect of India's bakery and confectionery industry. Due to the large demand and expansive industry size, competition is fierce. In this competitive landscape, home-based brands, local shops, patisseries, and premium brands all vie for a share of the market by offering personalized cakes and desserts. The bakery market has successfully captivated customers with its wide array of personalized desserts, which are both visually appealing and delicious, without compromising on quality. One notable brand making its mark in this industry is Creme Castle.

Based in Gurgaon, Creme Castle specializes in customized bakery products, offering a diverse range of desserts and personalized cakes. Established in 2020, the brand emerged as an official entity to harness the founders' expertise in providing cost-effective and express cake services. Owned and managed by a mother-and-son duo, Veena Mittal, a chef and home baker, laid the foundation of the brand in 2013. Her son, Pranjay Mittal, joined the business after completing his MBA, bringing his expertise to scale up operations and accelerate growth.

Experience in Shark Tank

The initial ask was INR 60 Lakhs for 1.5% equity at a total valuation of Rs 40 Crore. However, several sharks opted out for various reasons: Anupam Mittal, founder and CEO of Shaadi.com, had already invested in a similar business in the industry; Vineeta Singh, CEO and co-founder of Sugar Cosmetics, declined due to concerns about scalability; Aman Gupta, co-founder of boAt, and Namita Thapar, Executive Director of Emcure Pharmaceuticals, withdrew interest because the product lacked differentiation in a competitive marketplace. Eventually, a revised offer was proposed by Amit Jain, co-founder and CEO of CarDekho Group. The deal was closed at INR 60 lakhs for 2.5% equity at a total valuation of Rs 24 Crore. Prajay Mittal remarked, 'The experience on Shark Tank India was phenomenal; it contributed to our learning journey. It was great to meet various teams with different businesses, all aiming for new opportunities. Featuring on Shark Tank has been instrumental in propelling our business forward, providing valuable networking opportunities, and offering a learning experience of a lifetime.'