Taste Authentic Indian Cuisine with Nomad Food Project"

Nomad Food Project is a Pune-based startup that specializes in making bacon jam and relishes using pork. The company was founded by Advaith Siddharth Inamke and Aditya Rai, who serve as CEO and COO, respectively. The startup began as a college project and has since grown into a successful venture.

Nomad Food Project is known for its unique and delicious products, including bacon thecha and chorizo jam. The company has a total of 12 products available on their website, with five being bestsellers. Vegetarian options are also available.

USP

The USP (Unique Selling Proposition) of Nomad Food Project is their innovative and versatile range of "Ready-to-Eat" bacon thechas and relishes, made from 100% pure and genuine pork bacon and Goan sausages sourced from traditional and ancestral pork farms in Pune. They aim to cater to the hunger pangs of consumers in India, providing them with quick and easy solutions for breakfast, burgers, dal-rice, and more. Their products are cooked in small batches, five days a week, using locally sourced vegetables that are closely scrutinized for quality.

One of their standout products is their bacon podi, which they plan to release after experiencing positive feedback from South India. They fry the bacon in its own fat and grind it with podi elements, creating a flavorful topping that can be used on dishes like dosas. Additionally, they have plans to create a bacon chocolate pie.

Nomad Food Project's founders, Aditya Rai and Advaith Inamke, started the company as a research project during their culinary degrees at the Institute of Hotel Management, Mumbai. They identified a void in the market for niche, versatile products and developed their ideas through trials and experimentation.

Vision

The primary aim of Nomad Food Project is to provide niche and versatile food products that cater to the hunger pangs of consumers in India. The startup aims to offer ready-to-eat bacon thechas and relishes that can be quickly added to various dishes such as scrambled eggs, home-made burgers, and dal-rice to make them more interesting.

Nomad Food Project also focuses on using high-quality ingredients, including 100% pure and genuine pork bacon and Goan sausages sourced from traditional and ancestral pork farms in Pune. The vegetables used in their cooking are also sourced directly from local farmers and mandis after closely scrutinizing the quality of every ingredient.

The startup aims to cook in small batches, five days a week, to ensure the freshness and quality of their products. Nomad Food Project plans to expand its product line by releasing a bacon podi that can be added to dosa and other dishes. Additionally, the startup aims to create new food products such as bacon chocolate pie.

Sales

The startup has seen steady growth in sales in recent years. In 2019, the company's sales were 9.5 lakhs, which increased to 11 lakhs in the last 6 months of 2020. In 2021, the sales skyrocketed to 46 lakhs, indicating significant growth in the business.

It is also interesting to note that Nomad Food Project's valuation is 4 crore, which suggests that the company is highly valued by investors. The startup has managed to achieve this high valuation through its consistent growth in sales and profitability.

The information further reveals that the maximum sales of the company come from bacon products, with vegetation products accounting for 10 to 15% of sales. This indicates that the startup has identified a niche market and has successfully catered to it by offering high-quality bacon products.

The pricing of the products seems to be reasonable, with bacon products priced in the range of ?350-400 and vegetation products costing up to ?300. This pricing strategy may have contributed to the startup's success in attracting customers who are willing to pay for quality food products.

Finally, the gross margin of Nomad Food Project is 70%, which is an impressive figure. A high gross margin suggests that the startup is able to generate a significant amount of profit from its sales.

Journey on Shark Tanks

The startup Nomad Food Project received several offers for funding during a pitch session. The initial ask made by the pitchers was for 40 lakhs (4 million) in exchange for 10% equity of the company.

However, several counter offers were made, with different investors proposing different amounts of funding and equity percentages. Namita and Vineeta offered 40 lakhs for 20% equity, while Anupam, Peyush, and Aman also offered 40 lakhs for 20% equity.

Another investor, Ghazal, initially offered 40 lakhs for 15% equity, but later changed the offer to join Namita and Vineeta in offering 40 lakhs for 20% equity. Ashneer later joined the three women investors in this offer.