Uncle Peter’s Pancakes Secures Three-Shark Deal on Shark Tank India Season 3
On the latest episode of Shark Tank India season three, the founders of food startup Uncle Peter’s Pancakes secured a joint investment deal after presenting their business to the panel of investors. Entrepreneurs Akashdeep Dan and Sundeep Singh entered the show seeking Rs 60 lakhs in exchange for a 2% equity stake, valuing their pancake enterprise at Rs 30 crore.
During their pitch, the co-founders shared that their brand operates as an authentic pancake venture featuring a chain of restaurants and a cloud kitchen. They revealed they have established 40 outlets across 15 cities and have flipped over 15 lakh pancakes. According to the founders, the company's name was inspired by an American man who introduced them to pancakes during a trip.
Negotiations and Shark Reactions
Before entering business discussions, the investors sampled pancakes prepared at a live counter on the stage. Investor Anupam Mittal joined the founders to make a pancake himself, prompting a playful remark from Namita Thapar, who joked, "Don't serve me the pancake he is making."
Following the tasting, the founders shared their financial performance, noting sales of Rs 5 crore in 2023 with a profit of Rs 78 lakhs. Impressed by these figures, Anupam Mittal offered Rs 60 lakhs for a 4% stake, alongside a 3% royalty until Rs 90 lakh is recovered. Namita Thapar matched this offer, while Vineeta Singh presented an alternative offer which she described as superior to Mittal's.
Aman Gupta's Playful Scepticism
Not all investors were convinced about the long-term viability of a dedicated pancake business. Peyush Bansal questioned the founders, asking, "Do you genuinely believe a business can thrive solely on pancakes?" and expressed doubts about his ability to add value to the venture.
Aman Gupta also declined to invest, humorously citing his personal food preferences. "I'm more of an omelette and parantha guy, so I won't be of much help here. You already have Uncle Anupam with you," Gupta remarked. He later joked to Bansal, "Sell parathas instead! Peyush, let's open a parantha joint with this investment."
The Final Three-Shark Agreement
The founders of Uncle Peter’s Pancakes expressed their preference for a collaborative deal involving three investors. After negotiating with Namita Thapar, Vineeta Singh, and Anupam Mittal, a compromise was reached.
The final agreed deal secured the startup Rs 60 lakhs for a 3% equity stake, combined with a 3% royalty structure until Rs 1.2 crore is recouped by the investors. Celebrating the joint deal, Mittal joked, "Congratulations, guys! You've struck a deal with Anupam, who's even better than Aman," bringing laughter to the set.
