Wednesday 9 February 2022

Wakao Foods: India’s first Jackfruit based Vegan Food Startup receives funding on Shark Tank India


From a Criminal Lawyer to a Shark Tank India winner; Sairaj Dhond 's unique and successful entrepreneurial journey

  • The product: Wakao Foods
  • Shark that bit: Mama Earth, SUGAR Cosmetics and Emcure Pharmaceuticals
  • Funding Amount: 75 Lacs for 21% equity

National, 9th February 2022: Wakao Foods, a jackfruit based vegan food brand has become India’s first startup to be backed by all three female sharks on Shark Tank India. The brand received funding of 75 lacs INR for 21 per cent equity from SUGAR Cosmetics, Mama Earth and Emcure Pharmaceuticals in the 1st edition of Shark Tank India that aired on Sony Entertainment Television on xx.

Founded by Sairaj Dhond, Wakao Foods is a sustainable brand that aims at bringing plant based ‘Ready to Cook’ and ‘Ready to Eat’ products to the Indian market. Wakao’s current offering of jackfruit meat is ethically sourced and hand-picked from farms and hygienically manufactured. The jackfruit has been an obvious choice of product for its versatility, meat-like texture and nutritive value (high in fibre, low in calories and fats). All Wakao products have no preservatives with a shelf life of 1 year and require no refrigeration.

Impressed by the brand, the pitch and its offering Wakao Foods received funding from Vineeta Singh, CEO & Co-founder, SUGAR Cosmetics, Namita Thapar, Executive Director, Emcure Pharmaceuticals and Ghazal Alagh, Founder, Mama Earth.

On receiving funding from Shark Tank India, Sairaj Dhond said, “As someone who grew up watching Shark Tank, coming on this globally acclaimed platform and getting funded has been a great milestone for me and my team.  This further solidifies our belief and efforts to introduce innovative and disruptive F&B product categories that will change how consumers perceive plant based meat. We are looking forward to aggressively expand our footprint in the next few months and acquiring a bigger clientele in the Industry

For Wakao Foods, the sharks that have come along on this journey with them create the perfect amalgamation, bringing in key expertise that will drive and expand the business multi folds. Emcure Pharmaceuticals, currently present in 70 countries will open doors for the brand to export their products across the world. For a D2C brand like Wakao Foods that is aiming to create offline properties in the future, India’s top D2C and E-commerce players, Mama Earth and Sugar Cosmetics are the perfect role models as they guide the brand to expand and scale its business and bring in a new and disruptive approach to the pulsating plant based meat market with a sustainable focus.

About Wakao Foods: Wakao Foods is a Goa-based sustainable Start-up that brings plant-based ethically sourced ‘Ready to Cook’ and ‘Ready to Eat’ products to the market. The first offering from Wakao is the native jackfruit meat. Inspired by rising trends of veganism across the world and in India, Wakao brings a new and disruptive approach with a sustainable focus The company values include supporting indigenous Agri-practices, fair prices for farmers, prioritizing top-quality natural produce, and bringing it at the best available value for our customers. Wakao ensures the highest standards of safety & eco-friendly practices in all aspects of their business

No comments:

Post a Comment