Food & drinks
Icecream season 2 products.
| Brand | Amore gelato & sorbetto |
| Company name | Gourmet Gelato Company Pvt. Ltd. |
| Founders | Yasser Ali, Nayyer Hussain, Costanzo Malatto |
| Original ask | 75 lakhs for 4% equity at the valuation of Rs. 18.75 crores. |
| Deal | Rs. 75 lakhs for 7.5% equity at the valuation of Rs. 10 crores |
About the product
Most people think gelato and ice cream are the same thing. They are very similar, however, there is a difference! Gelato is the Italian word for ice cream derived from the Latin word “gelātus” (frozen).
Gelato is significantly silkier and somewhat denser than ice cream. This density allows gelato to contain far more flavours than conventional ice cream. Gelato typically derives its flavours from natural sources as well. It contains less fat than traditional ice cream.
Authentic fruits, chocolates, and other ingredients go into making their delicious and nutritious gelato and sorbetto. All of their products are made of natural flavours & entirely vegetarian.
Amore also makes vegan gelatos. Their dairy-free products are made from only the purest all-natural plant-based ingredients.
Founders & their story
- Yasser Ali
- Nayyer Hussain
- Costanzo Malatto
Amore Gelato was founded by a first-generation entrepreneur Yasser Ali along with his partner Nayyar Hussain in the year 2006 with a seed capital of 30 lakh rupees invested from their own pocket. This was an idea that got spurred over a cup of coffee, while ordering ice-cream and realizing that India seriously lacked good quality ice-cream.
Both Ali and Nayyar later flew to Italy and got in touch with a local ice-cream maker there Costanzo Malatto. He teamed up with them to oversee their production in India.
About the company
Amore was introduced in Mumbai for the first time in year 2006. Amore is a B2B business & they supply to restaurants, hotels, & cafes. Their main focus is to scale the pre-packaged business digitally with a mission to make sweet Italian Ice cream affordable to every Indian.
During covid, their business was about to shut when they decided to start B2B trade to cover the fixed cost & stepped into pre-packaged range without compromising the quality.
Their Co-founder invested Rs. 1 crore to start pre-packaged range & they opened 4 dark stores.
Amount Raised:
In 2017, they raised Rs. 2.2 crores at Pre-money valuation of Rs. 7.3 crores.
Revenue:
Their last month sales were 35 lakhs out of which they received 5 lakhs from dark stores & rest from traditional selling.
Pre-covid, their annual sales were Rs. 6 crores.
Founder’s Ask
75 lakhs for 4% equity at the valuation of Rs. 18.75 crores.
Offers
Anupam gave a conditional offer of Rs. 75 lakhs for 7.5% equity at the valuation of Rs. 10 crores.
Condition: Amore needs to achieve sales of Rs. 80 lakhs per month by March’23.
Final Deal
Rs. 75 lakhs for 7.5% equity at the valuation of Rs. 10 crores with condition to achieve sales of Rs. 80 lakhs pm by March’23.
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