Shark Tank India 3 | Rocca - The New Age Chocolate | Sonal Bahilani

ROCCA Shark Tank, a rising chocolate brand from Nagpur, captured the attention of the ‘Sharks’ on the hit TV show “Shark Tank” with its fresh approach to the confectionery market. Co-founders Sonal Bahilani and Yash Pande showcased their passion and determination to revolutionize the Indian chocolate scene.

Table of Contents

The Chocolate Landscape

The Indian chocolate industry holds a significant position globally, with a value of around $2.4 billion. However, multinational corporations (MNCs) like Mondelez International dominate most of this market, comprising 65%. ROCCA aims to challenge this dominance by offering premium, locally made chocolates to meet the growing demand for high-quality Indian products.

A Fusion of Dreams and Determination

Sonal Bahilani and Yash Pande, both hailing from Nagpur, crossed paths during their college years. Fate, it seemed, had a sweet surprise in store for them. Bonding over Bollywood movies and cafeteria encounters, they nurtured a friendship that would later bloom into a partnership. Their shared love for chocolates sparked an idea—to create something uniquely Indian yet globally appealing.

From Concept to Creation

In 2019, driven by their shared vision, Sonal Bahilani and Yash Pande began their entrepreneurial journey, laying the foundation of ROCCA Chocolates. With insights from market research and per Sonal Bahilani’s experiences, they set out to redefine India’s chocolate landscape. Their pursuit of excellence led them to experiment with flavors, crafting exquisite blends that tantalize taste buds.

Innovation and Inspiration

What sets ROCCA Chocolates apart is not just its delectable offerings but also its innovative approach. Sonal Bahilani’s expertise as a seasoned cook and Yash Pande’s business acumen proved to be a winning combination. They meticulously curated each recipe, infusing traditional Indian flavors with a contemporary twist. From almond to coffee and pistachio to dark chocolate, every variant tells a story of craftsmanship and creativity.

Initial Plans and Setbacks

Initially, the entrepreneurs planned to establish a small factory after securing a bank loan. However, the onset of the COVID-19 pandemic disrupted their plans, leading to financial setbacks and logistical challenges. Despite facing hurdles such as technical mishaps and financial constraints, they remained resilient and adapted to the changing circumstances.

Relaunching the Brand and Securing First Funding

Recognizing the need to pivot their strategy, the entrepreneurs decided to relaunch their brand. With renewed determination, they focused on rebuilding their business from the ground up. Through cold emails and networking efforts, they attracted investors and secured their first round of funding.

The ROCCA Difference

ROCCA stands out in several keyways:

Unique Taste and Ingredients: Crafted with carefully selected nuts like almonds and pistachios, ROCCA’s chocolates offer a distinctive and indulgent flavor.
Indulgence for All Ages: Designed to appeal to people of all ages, from children to adults, ROCCA’s products are a versatile option for snacking and gifting.
Focus on Health and Sustainability: Made with natural ingredients and free from preservatives, ROCCA’s chocolates offer a healthier choice for consumers.

Challenges and Opportunities

ROCCA recognized the competitive nature of the chocolate industry but also identified opportunities for growth. They faced challenges in surpassing the ’20 lakh’ monthly sales barrier, common among brands in this segment.

The Pitch to the Sharks

Presenting their vision to the ‘Sharks,’ the founders sought an investment of ₹60 lakh for 4% equity at a ₹15 crore valuation. They emphasized ROCCA’s potential to become a leading chocolate brand in India and globally.

Shark Tank Outcome

Ritesh Agarwal from OYO Rooms, one of the ‘Sharks,’ recognized the potential in ROCCA’s business model. He offered to invest ₹30 for 2.5% Equity at the valuation of ₹ 12 Crores, along with ₹30 lakhs in debt, with a 9% interest rate and a tenure of one year. The founders enthusiastically accepted the offer.

ROCCA’s journey on Shark Tank showcased the resilience and innovation of Indian entrepreneurs. The company’s focus on premium quality, unique flavors, and health consciousness positions it for success in a competitive market. With Aman Gupta’s investment support, ROCCA aims to further expand its reach and become a household name in the Indian chocolate industry.

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