How many pancakes are too many pancakes? On the latest episode of Shark Tank India season three, several varieties of pancakes were devoured as two founders of a flourishing food startup left the panel of sharks impressed with their pancakes. Akashdeep Dan and Sundeep Singh, founders of Uncle Peter’s Pancakes, appeared on the show and began their pitch by feeding the sharks their pancakes. The duo claimed theirs is an “authentic” pancake brand which has chain of restaurants and a cloud kitchen, offering more than 15 varieties of the American breakfast snack.
“We have served more than 15 lakh pancakes and have 40 outlets across 15 cities,” they said in their pitch, telling the sharks that the name of the company was inspired by the American man who first fed them pancakes on a trip. The founders then put forth their ask: Rs 60 lakhs for two percent equity with a valuation of Rs 30 crore.
Before the sharks started the negotiations, they asked to taste the pancakes, which were made live at a counter on stage. Anupam Mittal also joined in on the fun and made one. “Don’t serve me the pancake he is making,” Namita Thapar joked. The pancakes passed the quality check of the sharks, and then they came down to business. The founders said their sales stood at Rs 5 crore in 2023, leaving them with a profit of Rs 78 lakhs — an amount which impressed the judges.
“I can see depth in you, and also humility, so let me make an offer,” Anupam Mittal said, as he offered the founders Rs 60 lakh for four percent equity and three percent royalty until Rs 90 lakh is recouped. Namita Thapar matched Anupam’s offer, while Aman Gupta bowed out of the negotiations. “Main omelette aur parantho waala aadmi hu, so I won’t be able to help you. You anyway now have Uncle Anupam with you,” he joked. Vineeta Singh also made the founders an offer, which she said was better than Anupam’s. “You really think an outlet can sustain on pancakes?” asked Peyush Bansal, who, like Aman, felt that he lacked the knowhow to help the duo. “Paranthe bech lo!” Aman Gupta joked, and added, “Peyush let’s start a parantha shop with this much money.”
The founders, however, asked if they could get a three-shark deal with Namita, Vineeta and Anupam coming together. After some back and forth, the duo agreed on the deal offered by the three sharks: Rs 60 lakhs for three percent equity, with three percent royalty until Rs 1.2 cr is recouped. The moment they agreed with price, Anupam said, “Congratulations guys, aapki Aman ke baap Anupam se deal hui hai,” leaving everyone in splits.
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