A culinary technology start-up called On2Cook India featured on season one of the business reality TV series “Shark Tank,” has acquired Rs 17 crore in early capital at a valuation of Rs 100 crore.
How Much Funding Have They Received?
Sanandan Sudhir, an inventor and entrepreneur who made waves in Shark Tank India with the fastest cooking device ever built, has announced that his firm, On2Cook India Pvt Ltd, has received seed funding of more than 2 million USD.
Dr. Mayur Desai, an angel investor, served as the round’s leader and contributed the first tranche of Rs 16 crore for 16% equity, reiterating the startup’s estimated value of USD 12.5 million. Investor and NRI Nirbhay Gandhi also took part in the round. At the World Trade Centre in Dubai, On2Cook is now appearing at GulfHost 2022.
More About on2cook Company
In On2Cook, microwaves are used inside, while heat is applied to the food outside through induction or flame. According to Sanandan Sudhir, founder, and CEO of On2Cook India, the product was engineered to disrupt the food business and is intended to save both household and commercial kitchens up to 70% of the time and 50% of energy.
The moisture content of nutrients is retained in food when it is cooked, while colour, texture, and consistency are preserved. Our idea has been given patents in the US, the UK, and India, and it is poised to establish a new product category in the culinary market. To raise an additional INR 3 crore as part of the deal, he continued, the brand is in discussions with other strategic investors.
In the post-industrial era, there has yet to be technological advancement. Cooking is brought into the modern day via On2Cook. Shaival Desai of the Desai family office said, “We are pleased to join forces with Sanandan in his tryst to usher in a landmark transformation in the business and lifestyle’’. At the Dubai World Trade Center’s GulfHost 2022 event, On2Cook will appear.