Dil Foods founder Arpita Aditi came into the spotlight after season 3 episode 5 was aired, have a look at the company’s net worth and business model
Dil Foods, founded by Arpita Aditi in 2022, embarked on a mission to revolutionize the culinary landscape, intertwining diverse regional cuisines into its offerings of fresh food.
What is the Dil Foods company on Shark Tank India season 3 of Arpita Aditi, founder, business model, products and net worth
Arpita Aditi, originally hailing from Ranchi, Jharkhand, brought her background in bio-tech engineering from MIT Manipal and a two-year tenure at Swiggy where she focused on creating national partnerships with over 5000 restaurants.
In the Shark Tank India pitch during Season 3 episode 5, Dil Foods founded by Arpita Aditi sought ₹50 Lakhs for 0.5% equity, valuing the virtual restaurant operator at ₹100 Crores. The company’s unique approach involved operating through eight cloud brands, each representing a distinct Indian region and culture.
Dil Foods had established partnerships with more than 65 restaurants, leveraging their resources to supply frozen dishes to be prepared by restaurant chefs using Dil Foods’ packaging. Orders flowed in through platforms like Swiggy and Zomato, contributing to a remarkable incremental revenue of ₹6 Crores for their restaurant partners across 111 outlets.
Financially, Dil Foods recorded sales of ₹7 Crores in the fiscal year 2022-2023, with a burn of ₹1 Crore. Moving into the fiscal year 2023-2024, the company achieved sales of ₹13.16 Crores as of October, projecting a year-end target of ₹30 Crores. The profit till October stood at ₹87 Lakhs, with an anticipated year-end profit of ₹2.2 Crores. The company’s average order value was ₹300, with revenue distribution allocating 31% to the restaurant, 6% to packaging costs, and 10.5% to marketing expenses.
In terms of funding, Dil Foods had raised ₹1 Crore in April ’22 with a valuation of ₹14 Crores. Subsequently, in September ’22, an additional ₹40 Lakhs was secured with a valuation of ₹40 Crores. In July ’23, a significant funding round of ₹15.5 Crores was raised with a valuation of ₹75 Crores. Founder Arpita Aditi aimed to steer Dil Foods towards a ₹7500 Crore valuation within the next 5 years.
During the negotiations on Shark Tank India, Vineeta Singh, Peyush Bansal, Radhika Gupta, and Ritesh Agarwal presented various offers. The final deal was a strategic move by Vineeta and Peyush, revising their offer to ₹2 Crores for 2.67% equity, aiming to bring four sharks on board. Aditi, recognizing the collective expertise and resources offered by the group, agreed to and finalized the deal.
Post-Shark Tank India, the research on Dil Foods revealed ongoing due diligence with the finalization of the deal still uncertain. The company’s journey, marked by expansion, financial growth, and a commitment to authentic regional Indian cuisine, has set the stage for a promising future.