MOPP Foods, a company founded by Gaurav Gupta and Geetika Anand Gupta, aims to provide customers with authentic and crispy pakoras and parathas that are less oily. Their inspiration comes from Geetika's desire to give her son the taste of traditional food. With 20 years of experience in the field, the founders decided to start a company that offers North Indian dishes under three verticals: MOPP (Mad Over Parathas and Pakoras), Mad Over Curry for authentic North Indian curries and Mealy for daily meals.
Their products are not only delicious but also cost-effective. Their best-selling paratha is Aloo Pyaz Paratha, and they also offer vegetarian options such as Italian Twist Paratha, as well as non-vegetarian options like Butter Chicken Paratha and Butter Chicken Pakora. Their normal aloo paratha costs around Rs. 149, and the packaging charge is Rs. 20. The company has delivered over 3.5 lakh orders to date, with 25,000+ orders delivered in a single month.
In 2019, MOPP Foods was launched and raised its first round of funding from Rahul Singh, the founder of Beer cafe. The investment of 71 lakhs rupees was made with a pre-money valuation of 5 crore rupees in January 2020. The company raised two more rounds of funding, with the most recent round raising 55 lakhs rupees with a pre-money valuation of 22 crore rupees in July 2022. The founders have collaborated with Rebel Foods and currently have 61% equity in the company, with 9.3% in ESOP, 20% with Angel Investors, 6.5% with advisors, and 3.2% with Indian accelerators. Their monthly run rate is 60 lakhs rupees, with an average monthly growth rate of 20%. Their monthly burn is Rs. 3 lakhs rupees. The unit economics of the company include food and packaging at 35%, Zomato and Swiggy at 25%, HR cost at 12%, Rental, and Maintenance at 3%, fuel, and electricity at 7%, and miscellaneous at 35%. Their EBITDA is 15%, and their projection is to generate 100 crore rupees from 40 kitchens.
When MOPP Foods appeared on Shark Tank, they were seeking an investment of 75 lakhs for 2.25% equity in the company. Amit countered with an offer of 50 lakhs for 5% equity and 25 lakhs debt, but the founders held out for a better deal. In the end, the final deal was made with Amit for 75 lakhs rupees in exchange for 5% equity in the company.
The success of MOPP Foods can be attributed to the founders' experience and passion for North Indian cuisine, as well as their commitment to providing customers with delicious and affordable food. The company has seen steady growth and has secured multiple rounds of funding from notable investors. With their collaboration with Rebel Foods and their plans to expand to 40 kitchens, MOPP Foods is poised for even greater success in the future.
In conclusion, MOPP Foods is a company that has captured the essence of traditional North Indian cuisine and made it accessible to everyone. The founders' dedication to quality and authenticity has paid off in the form of steady growth and successful funding rounds. With their partnership with Rebel Foods and their projection to generate 100 crore rupees, MOPP Foods is a company to watch in the coming years.
ALIPPO LEARNINGS:
- Passion and experience in a particular field can be a strong foundation for starting a successful business. MOPP Foods founders' love for North Indian cuisine and 20 years of experience in the industry helped them create a unique and successful brand.
- Providing customers with affordable yet delicious food can be a winning strategy. MOPP Foods' cost-effective products and authentic taste have helped them attract a large customer base.
- Building partnerships with industry experts and established companies can help accelerate business growth. MOPP Foods' collaboration with Rebel Foods helped them expand their reach and achieve their growth projections.
- Raising funding through multiple rounds can help businesses achieve their growth goals. MOPP Foods' successful fundraising rounds with notable investors have provided them with the necessary capital to scale up their operations.
- Knowing the unit economics of a business is crucial for understanding its profitability and sustainability. MOPP Foods' breakdown of their unit economics can be a useful example for businesses to understand their cost structure.
