Entrepreneur Name- Rajesh Dhote
About the Entrepreneur- Rajesh Dhote hails from Mumbai and pursued his education in London. His family owns a printing and packaging business, and he spent 10 years working in London before realizing his desire to venture into entrepreneurship.
Through a mutual acquaintance, he connected with one of the co-founders of a company and obtained inspiration for his new venture.
LinkedIn Profile- https://www.linkedin.com/in/rajas-dhote-aa7a5a20/
| Brand Name– | Cremeitalia |
| Brand Website- | https://cremeitalia.com/ |
| Business Category– | Cheese Products |
| Equity Asked– | ₹90 Lakhs for 1.5% Equity |
| Deal Closed– | No Deal |
| Target City/Country- | India |
| Total Addressable Market- | INR 262.6 Billion by 2028 |
| Product/Services– | Italian Cheese Products |
About the Product- Cheese is a popular ingredient that is commonly consumed with foods like vada pav, sandwiches, pasta, and pizza.
However, the cheese that is often used in these dishes is often full of added flavours and coloring, which can be unsatisfying for consumers.
In response to this, Rajesh founded Cremeitalia to cater to the demand for cheese in India. The brand produces fresh cheese from natural, high-quality milk that is both delicious and healthy.
Cremeitalia products are currently available across 220 stores in 18 cities and include Jalapeno sour cream, Burrata, Scamorza, and other varieties, with Burrata being their best-selling product.
Rajesh and his co-founder each hold a 31.15% share in the company, while stakeholders hold 15% and others hold 11.2%.
The company raised 1.3 crore rupees in the first round at a pre-money valuation of 7 crore rupees, followed by a second round of 4.5 crore rupees at a pre-money valuation of 22 crore rupees.
Cremeitalia is currently in the process of setting up a larger production plant to increase their output and plans to launch cheese dips in the near future.
50% of their orders come from restaurants, and the price of Burrata is 335 rupees per pack, while Bocconcini Cherry is priced at Rs. 245 per pack.
Conclusion–
Rajesh Dhote pitched his proposal for 1.5% equity in exchange for ₹90 lakhs. However, the sharks showed no interest in the deal and did not make any offers or counteroffers.
The reasons cited for this were the lack of clarity in the financial numbers presented and the perceived shortcomings of the team.
As a result, the pitch was unsuccessful, and the deal did not go through.
Cremeitalia Shark Tank India Review