Wakao Foods Update | Shark Tank India Season 1
Wakao Foods makes plant-based meat alternatives from jackfruit, and it’s India’s first brand to build an entire product line around the ingredient. Sairaj Gaurish Dhond founded the company in Goa after noticing that jackfruit’s fibrous texture came close to pulled meat when cooked and seasoned right. The products are gluten-free, certified vegan, and sold as ready-to-cook and ready-to-eat formats.
Wakao Foods on Shark Tank India Season 1
Sairaj Dhond pitched Wakao Foods in Episode 29 of Season 1. The panel that episode included Namita Thapar, Vineeta Singh, and Ghazal Alagh.
| Detail | Info |
|---|---|
| Ask | ₹75 lakhs for 5% equity |
| Implied Valuation | ₹15 crore |
| Deal | ₹75 lakhs for 21% equity |
| Deal Valuation | ₹3.57 crore |
| Season | 1 |
| Sharks Present | Namita Thapar, Vineeta Singh, Ghazal Alagh |
The Pitch
Sairaj came in asking ₹75 lakhs for 5%, putting the company at a ₹15 crore valuation. He made the case that jackfruit was an underused crop in India, often going to waste, and that Wakao had found a way to process it into a product that could substitute chicken or mutton in most recipes.
At the time of the pitch, Wakao was selling primarily through D2C channels and had started getting traction online. The company was pre-profitability but showed early demand signals from health-conscious urban consumers looking for meat alternatives.
Wakao held two proprietary patents: one for its jackfruit texturization method that replicates the fibrous pull of meat, and another for a natural preservative blend that gives the product a 12-month shelf life without synthetic additives.
What the Sharks Said
All three sharks on the panel, Namita Thapar, Vineeta Singh, and Ghazal Alagh, were interested. They pushed back on the valuation significantly. Sairaj had asked for 5% but the sharks came in collectively at 21%, dropping the implied valuation from ₹15 crore to ₹3.57 crore. Sairaj accepted.
Wakao became the first startup on Shark Tank India backed by all three female sharks. The investment was ₹75 lakhs split among Namita, Vineeta, and Ghazal.
What Happened After
The Season 1 deal didn’t close after filming. The founders didn’t give a detailed public explanation, but the deal fell through during due diligence or post-show negotiations.
Despite that, the TV appearance drove significant consumer interest and the brand used the visibility to scale. Wakao moved away from D2C after finding that unit economics were tough in that channel, and shifted focus to B2B, eventually partnering with over 150 restaurants across India. They also tied up with ITC for co-packing, which let them scale production without owning manufacturing infrastructure.
Wakao returned to Shark Tank India in Season 2, asking ₹1.5 crore for 5% equity. Vineeta Singh and Namita Thapar invested at ₹1.5 crore for 10%. That deal closed.
Current Status (2025)
| Detail | Info |
|---|---|
| Primary Revenue Channel | B2B (150+ restaurant partners) |
| Co-packing Partner | ITC |
| Patents | 2 (texturization method, natural preservative blend) |
| Website | wakaofoods.com |