A man who started from 50,000, Now owns a profitable business: Rounit Gambhir in Shark Tank India
In the bustling city of Mumbai, Rounit Gambhir's life was turned upside down in 2019. His father's company declared bankruptcy, It left the family in financial ruin.
Despite facing the problem Rounit chose not to give up. He fought it and started a business of DIY kits. He founded Chefling in 2020 to make coking international dishes easily at home.
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Education
Rounit attended Mithibai College and completed his graduation in Bachelor of Business Administration - BBA from Amity University. He has also studied business management at Russel Square Mumbai- London School of Economics.
Adversities Faced by Raunit
Rounit was 16-17 years old when his father's factory fully collapsed all the new machines he bought a few days back were broken. His family faced huge losses after this. They didn't get any insurance so his father decided to use all the savings and capital to build the factory again, he also took loans from banks. But the factory started in debt and it increased every month and year on year. His father's company, Artedz Fabs Limited, a once-thriving NSE-listed business, was declared bankrupt in 2019, It left the family in financial ruins.
The shadow of his father's business collapse impacted Rounit’s life. He matured with dreams of reviving his family's fortunes.
The founding story of Chefling
In the early days of the lockdown easing, One day, Rounit’s friend wanted to make Sushi (a Japanese dish). They went to the supermarket and bought the materials needed which cost around 7-8 thousand. while making and eating sushi with his friend and brother-in-law, They started discussing about the failure of DIY kits in India. This discussion led to the challenges such businesses faced. It further fueled Rounit with the desire to create a solution.
The expensive ingredients and the cumbersome process sparked a thought in Rounit’s mind: what if he could simplify this experience for others? Inspired by this, in April 2020, he decided to develop a sushi kit.
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His past family business experience did allow him to leave the job. he continued his full-time job and pursued his entrepreneurial venture after office hours. But for any business money is crucial, Rounit asked his mother and told his idea to her. She gave him her savings of ₹50,000 for the initial funding.
Armed with a mere Rs 50,000 loan from his mother, Rounit embarked on his entrepreneurial journey, founding 'Chefling'. This startup aimed to demystify the preparation of exotic cuisines by offering do-it-yourself (DIY) meal kits, each containing all the necessary ingredients and instructions for the mentioned number of people. His vision was clear: to provide a gourmet experience that was fun, delicious, and affordable, making fancy dishes accessible to everyone.
Chefling launched in August 2020, amidst the pandemic, with an initial batch of 150 kits that sold out on the very first day. He used social media and influencer marketing, and he promoted the product during the lockdown period, generating significant interest. As demand grew, They started receiving several orders.
Encouraged by this success, Rounit invested another Rs 1 lakh, borrowed from his mother, to scale up his operations. The business performed well, Later Rounit returned all the money to his mother. Over the next three years, Chefling grew steadily. They have sold more than 5,000 kits across India till now.
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Rounit Gambhir in Shark Tank India
Recently Rounit appeared on Shark Tank India Season 3, He asked for 40 lakhs for 10% equity at the valuation of Rs 4 crore. His passion and the unique value proposition of Chefling impressed Namita Thapar, Azhar Iqubal, Amit Jain, and Peyush Bansal. They saw potential in Raunit's vision and everyone offered him lucrative deals. He also shared his story.
In the end, all 4 sharks Amit, Namita, Azhar, and Piyush offered him a combined deal of Rs 40 lakh for 16% equity at a valuation of 2.5 crore. He accepted the offer.
Rounit’s journey from a young man burdened by his family's financial crisis to a successful entrepreneur is a testament to his resilience and innovative spirit. His story inspires many, showing that with determination, creativity, and a bit of courage, one can rise above the most daunting challenges and turn dreams into reality. His business reflects the belief that no setback is insurmountable.
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