Biography of Pranjay Mittal: Founder and CEO of Creme Castle- Entrepreneur
Biography of Pranjay Mittal:
Birth of Creme Castle
Creme Castle's journey began with a humble story. It all
started with a mother’s passion for baking. Veena Mittal, living in a small
town, had limited resources but a deep love for creating delicious cakes. When
the family moved to Greater Noida, she found the perfect opportunity to turn
her passion into a business. What began as a home-based hobby quickly became a
local sensation, with friends and family showering her with praise for her
exceptional baking. This grassroots effort set the foundation for what would
later become Creme Castle.
A Business Family’s Legacy
Pranjay Mittal, Veena's son, came from a business-oriented
family. His father was a businessman, and Pranjay had tried his hand at a
couple of start-ups earlier, though neither had been successful. But seeing the
potential in his mother’s growing baking business, he decided to join her. His
background in business and his experience in the corporate world helped him
realize the opportunity to scale the operation. What initially started as his
mother’s venture was soon transformed into a full-fledged business with a
promising future.
The Big Idea
Creme Castle specializes in custom-made celebratory cakes
and bakery products. The brand’s unique selling point is its ability to deliver
personalized cakes within two hours, all at 40% less than the typical market
price. Apart from cakes, Creme Castle also offers a variety of pastries,
cheesecakes, and eclairs, catering to a diverse customer base. The company's
vision is to expand across India, bringing their personalized cake offerings to
every city, creating memorable celebrations for families everywhere.
A Growing Presence
From its humble beginnings, Creme Castle grew rapidly. The
brand started with a single location but now operates three branches in the
Delhi-NCR region. With over 5 million satisfied customers, Creme Castle has
made a significant mark in the cake and bakery industry. The company’s emphasis
on customer satisfaction and high-quality, affordable products has helped it
build a loyal following. Pranjay’s decision to join the business played a
pivotal role in scaling up operations and ensuring its rapid success.
The Shark Tank Experience
In 2023, Creme Castle took a leap by appearing on Shark Tank
India Season 3. The initial ask was INR 60 lakhs for 1.5% equity at a total
valuation of INR 40 crore. However, the journey wasn’t easy. Several sharks,
including Anupam Mittal and Vineeta Singh, declined to invest, citing concerns
over market competition and scalability. Despite these setbacks, Pranjay stayed
confident, prepared, and focused on the vision. He believed in the product and
had done his homework, ensuring that no matter the questions asked, he could
handle them with poise.
The Deal with Amit Jain
While several sharks opted out, Pranjay’s perseverance paid
off when Amit Jain, CEO of CarDekho, stepped in with a revised offer. Amit
offered INR 60 lakhs for 2.5% equity, bringing the valuation down to INR 24
crore. This was a significant deal, marking a turning point in Creme Castle’s
journey. Pranjay acknowledged the immense value of the Shark Tank platform,
which had not only provided funding but also brought invaluable exposure and
recognition to the business.
Expansion Plans After Shark Tank
Following the success of the Shark Tank deal, Pranjay and
his team set their sights on rapid expansion. The goal was to expand within
Delhi-NCR, increasing the number of kitchens and delivery points to make their
products more accessible. After solidifying their base in Delhi, they aimed to
enter new cities such as Jaipur and Chandigarh. This strategic expansion would
help Creme Castle build a stronger presence in the national market, pushing the
brand toward its vision of becoming a household name.
The Rise of Creme Castle in India’s Bakery Market
The Indian bakery market is evolving rapidly. As more people
embrace celebrations and social gatherings, the demand for personalized cakes
and bakery items has grown exponentially. Creme Castle has successfully tapped
into this booming demand, capitalizing on the trend of customization. Their
ability to offer tailored cakes at affordable prices has given them a
competitive edge in a crowded market filled with both local bakeries and
premium brands.
Securing Additional Investment
In addition to the Shark Tank deal, Creme Castle has
continued to attract investor interest. The company raised INR 7 crore in a
seed funding round, led by V3 Ventures, Amit Jain, and several angel investors.
This funding has provided the necessary resources to fuel further growth and
enhance their technological capabilities. With the backing of experienced
investors, Creme Castle is well-positioned to scale rapidly and expand its
presence across India.
Biography of Pranjay Mittal: Founder and CEO of Creme Castle- Entrepreneur /age/net worth/investor/startup/baking cakes/Creme Castle story/Pranjay M
The Bakery Market's Potential
According to industry reports, the Indian bakery market is
expected to grow at a rate of 11-12% annually, reaching INR 1,850 billion by
2028. This growth can be attributed to the rising purchasing power of the
middle class, especially in Tier 2 and Tier 3 cities, where the demand for
high-quality bakery products is increasing. Social media has played a
significant role in driving this demand, as people in smaller cities are
becoming more aware of the wide variety of products available. Creme Castle,
with its customized offerings, is perfectly positioned to capture a substantial
portion of this market.
Creme Castle’s Unique Selling Proposition
What sets Creme Castle apart in such a competitive market is
its ability to offer highly customized cakes and bakery products. With a focus
on affordability, quality, and rapid delivery, Creme Castle has won over
thousands of customers who value both personalization and convenience. The use
of advanced technology for order processing and delivery has further
streamlined operations, allowing the company to serve its customers efficiently
and at scale.
Future Plans: Targeting Tier-2 and Tier-3 Cities
Creme Castle’s growth strategy focuses not just on the
metropolitan cities but also on expanding into Tier-2 and Tier-3 cities across
India. The brand aims to increase its reach significantly, targeting a broader
customer base that is increasingly eager to celebrate special occasions with
customized cakes and desserts. By scaling its operations in these cities, Creme
Castle hopes to become a dominant player in the Indian bakery market, serving
both urban and semi-urban populations.
Leveraging Technology for Growth
Pranjay Mittal, who joined Creme Castle in 2018, has been
instrumental in bringing technology into the business. Under his leadership,
the company adopted digital platforms to streamline operations, allowing Creme
Castle to manage large volumes of orders and maintain high-quality standards.
This technological transformation has enabled the company to serve more
customers efficiently while also improving scalability. The digital push has
paid off, with over 65% of Creme Castle’s revenue now coming from its own
online channels.
A Bright Future Ahead
Creme Castle’s journey is a testament to the power of
perseverance, innovation, and a strong family foundation. From its beginnings
as a small home-based business to its current status as a rapidly growing
player in the Indian bakery industry, Creme Castle has proven that with the
right combination of passion, technology, and customer focus, a business can
overcome obstacles and achieve success. With plans for national expansion and
continued innovation, Creme Castle is set to become a leader in the Indian bakery
market in the years to come.
A timeline of Creme Castle’s journey:
Early Years (2000s) - Veena Mittal, a passionate home baker,
began baking cakes in a small town, creating delicious cakes that gained local
praise from friends and family. The family later moved to Greater Noida,
providing the perfect opportunity for Veena to start her own business.
2018 - Pranjay Mittal, Veena’s son, with a background in
business, decided to join her and transform her home-based venture into a
full-fledged business. This shift marked the formal foundation of Creme Castle,
with a focus on custom-made celebratory cakes and bakery products.
2020 - Creme Castle rapidly grew from a home-based business
to multiple locations, catering to a growing demand for affordable,
personalized cakes. The business scaled to three branches in the Delhi-NCR
region and served over 5 million satisfied customers.
2023 - Creme Castle appeared on Shark Tank India (Season 3),
asking for INR 60 lakhs for 1.5% equity at a valuation of INR 40 crore. After
facing initial rejections from some sharks, Amit Jain offered INR 60 lakhs for
2.5% equity, valuing the company at INR 24 crore. The deal brought both
investment and valuable exposure.
Post-Shark Tank (2023-2024) - With Amit Jain's investment
and guidance, Creme Castle expanded rapidly within Delhi-NCR and planned
further expansions into cities like Jaipur and Chandigarh. The company also
raised INR 7 crore in seed funding, further supporting its growth.
2024 and Beyond - Creme Castle aims to tap into the growing
bakery market, with a focus on Tier-2 and Tier-3 cities across India. They are
leveraging technology to streamline operations, with 65% of revenue now coming
from online channels. The company plans to continue expanding, targeting both
urban and semi-urban populations and making personalized cakes more accessible
across the country.
Future Vision - Creme Castle's ultimate goal is to become a
household name in the Indian bakery market by offering affordable,
high-quality, customized cakes and desserts, using advanced technology for
order processing and rapid delivery.
