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During Paleoo Bakes’ pitch in Shark Tank India, things became intense when Vineeta Singh clashed with Peyush Bansal after he pulled out of the deal at the last moment.
Paleoo Bakes started in 2019 during the COVID-19 pandemic. (Photo Credits: Instagram)
In a recent episode of Shark Tank India Season 4, Paleoo Bakes, a Mumbai based brand offering healthy desserts and cakes, made an exciting pitch. The mother-daughter duo, Simran and Tina Bapu, asked for Rs 1 crore in exchange for 6.5% equity. While sharing their story, they explained how their love for baking and background in nutrition inspired them to create healthy sweets. Their impressive journey and strong sales figures left judges, especially Anupam Mittal, Vineeta Singh and Peyush Bansal, intrigued. Soon, things became intense when Vineeta clashed with Peyush after the Lenskart founder pulled out of the deal at the last moment.
The judges were impressed by the taste of their desserts, and admired Tina and Simran’s dedication. Anupam and Vineeta, excited by the pitch, joined hands by offering Rs 1 crore for 10% equity, along with a 1% royalty until the investment was paid back. Peyush initially made a similar offer but later removed the royalty condition to make his deal more attractive. This led the founders to think about their options, but Peyush insisted they decide quickly or else he would withdraw from the deal, if they take too long.
However, Vineeta Singh was not pleased with Peyush Bansal’s harsh response. She immediately told him, “Decision lene main 2 minute toh lagta hai na. (It takes at least two minutes to make a decision).”
Peyush then chose to completely back out from the deal, while Anupam Mittal and Vineeta Singh’s offer was still active. However, Aman Gupta decided to include his name with other two Shark Tank India’s panellists and they made a revised offer of Rs 1 crore for 6% equity and a 1% royalty. After some discussion, Simran and Tina Bapu accepted the offer, which will help them grow their business.
According to their website, Paleoo Bakes started in 2019 during the COVID-19 pandemic to help people eat healthier without compromising on taste. It began from Simran and Tina’s home kitchen but has now become a large cloud kitchen with a big team. During the tough times of the pandemic, the daughter decided to follow her passion and with her mother’s help, they made desserts that taste good and don’t harm anyone’s health. Their aim is to build a community where people can enjoy sweet treats without feeling guilty.
