How The Plated Project is Using Art to End Hunger in India

The Plated Project is a social enterprise that combines art and philanthropy to fight hunger in India and beyond. It collaborates with global artists to create limited edition plates that sponsor meals for the hungry through NGO partners.

Founders and History

The Plated Project was founded by Chitresh Sinha in 2019 as a part of Chlorophyll Innovation Lab, a Mumbai-based collective that works on social impact projects. Sinha was inspired by his childhood memories of sharing food with his neighbours during festivals.

Business Model

The Plated Project sells its products online and through offline events and exhibitions. It also partners with corporates and celebrities for customised orders. 50 percent of its revenue goes to NGOs for sponsoring meals. From each item’s sale, a minimum of 10 meals is donated every month.

Products and Services

The Plated Project offers various products such as plates, coasters, mugs, trays and wall art. Each product is designed by a different artist and has a theme related to a social cause such as hunger, education, environment or mental health.

Market Opportunity

The Plated Project operates in a niche market of functional art that combines aesthetics and social impact. It caters to customers who are looking for meaningful gifts or home decor items that also support a good cause.

Shark Tank India Ask and Final deal

The Plated Project appeared on Shark Tank India Season 2 Episode 46. The owner asked for 75 lakhs in exchange of 2% equity of the company at the valuation of 37.5 crores. They received offers from four sharks: Anupam Mittal, Veenita, Aman and Namita. They accepted final offer with Veenita, Aman and Namita for 75 lakhs at 3.75% equity.

Financials and Funding

A plate costs 2199 for one without engraving and 2499 for one with engraving. Last month's sales were 40 lacs. EBITDA for FY21 to FY22 is 15%. The profit from last month was 2.5 lacs. 90% of total sales come from the decor area, with the remaining 10% coming from the dinnerware and giving sector. The estimated sales split for FY 22 to FY 23 is 70% from decor, 20% from tableware, and 10% from candles and other gift items. The predicted sales breakdown for FY 23 to FY 24 is 50% from decor, 33% from dinnerware, and 17% from candles and other gift items. The business is wholly bootstrapped.

Impact and Future Plans

The Plated Project claims to have donated over 650000 meals to the hungry through their NGO partners . It also aims to create awareness and empathy for various social issues through their products. It plans to expand its product range, artist network and customer base in India and abroad.

Conclusion

The Plated Project is an innovative initiative that uses art as a medium to fight hunger and other social problems. It has gained recognition and support from customers, artists, NGOs and investors who share its vision.