When the founders of Everyday Morning Cartel (EMC) walked into Shark Tank India, they didn’t just serve coffee, they served an experience. From pour-overs treated like fine-dining courses to community events that felt more like cultural festivals, the pitch was as much about vibe as it was about business.
Founded by brothers Neel Kanwarjani and Rishiraj Kanwarjani, EMC positions itself as a premium, experience-led café brand. The founders showcased a tasting-format menu where coffee is served in curated “courses,” with their cold coffee emerging as a standout hero product.
The brand has already clocked ₹1.14 crore in year-to-date sales and boasts a near-perfect Google rating, reflecting strong early customer traction.
The brand runs on a balanced 50:50 split between food and beverages and highlighted strong profitability, reporting an EBITDA of 32.2% year-to-date, touching nearly 40% in October 2023.
Their single outlet, spread across 850 sq. ft., comes with a monthly rent of ₹3 lakh and a setup cost of ₹70 lakh. Confident in their numbers and vision, the founders asked for ₹2 crore for 5% equity, valuing the company at ₹40 crore. That valuation immediately became the biggest point of debate in the tank.
While the sharks questioned the steep ask for a single-outlet business, the conversation shifted once the margins and long-term vision came into focus. After intense negotiations, Aman Gupta and Ritesh Agarwal teamed up to close a deal of ₹2 crore for 12% equity, bringing the valuation down to ₹16.67 crore.
