Biography of Sundeep Singh: Founder & CEO of Uncle Peter’s Pancakes- Entrepreneur
Biography of Sundeep Singh:
Beginning of Uncle Peter’s Pancakes
Uncle Peter’s Pancakes was founded in 2019 by entrepreneur
Sundeep Singh. Inspired by the love of pancakes and a trip to Paris, they
decided to bring authentic, international-quality pancakes to India. Their goal
was to challenge the notion that pancakes should only be available in high-end
restaurants. Instead, they wanted to make them accessible and enjoyable for
everyone, by offering pancakes in a variety of flavors that could cater to
diverse tastes.
A Unique Approach to Pancakes
The founders of Uncle Peter's Pancakes developed an
innovative menu that includes over 15 types of pancakes. These range from
classic stack pancakes to more adventurous creations like lava pancakes and
coin pancakes. They also offered gluten-free, vegan, and healthy options to
cater to the growing demand for alternative dietary choices. What made their
pancakes unique was the use of the finest ingredients to maintain consistent
quality and taste, even without using eggs.
From Cloud Kitchen to Growing Brand
Uncle Peter's Pancakes began its journey as a cloud kitchen
in Bengaluru’s Indira Nagar in 2019. This allowed them to test the market and
streamline their operations without the overhead of a physical store. Over
time, the brand grew quickly, selling over 15 lakh pancakes and becoming the
largest homegrown pancake brand in India. Their rapid success led them to
expand into physical locations, including QSRs (quick-service restaurants),
cafes, and kiosks across multiple cities.
The Expansion Journey
By 2022, Uncle Peter’s Pancakes had over 40 outlets in 15
cities, including Bengaluru, Chennai, Gurugram, Kolkata, Ahmedabad, Lucknow,
and even Goa. This growth was driven by both company-owned and franchise
outlets. The brand also launched cloud kitchens and kiosks to extend their
reach. Their business model, combining both physical and online food services,
made it possible to serve customers across various locations with ease.
Making Waves in the Market
The founders were able to offer a unique culinary experience
with their innovative pancakes, which caught the attention of food lovers
across India. Uncle Peter's Pancakes gained significant popularity, selling
more than 5000 pancakes a day, with a strong presence on food delivery
platforms like Swiggy and Zomato. Their outlets received high ratings, and they
created a loyal customer base, fueling their rapid growth.
Biography of Sundeep Singh: Founder & CEO of Uncle Peter’s Pancakes- Entrepreneur/high-quality pancakes/age/net worth/investor/startup/Sundeep Singh
The Shark Tank India Pitch
In a recent episode of Shark Tank India Season 3, Sundeep
and Akashdeep presented Uncle Peter’s Pancakes to the sharks, seeking an
investment of Rs 60 lakh for 2% equity. Their pitch was supported by the
delicious pancakes they served to the sharks, who were impressed by the
consistency and quality. The founders also shared their impressive growth
statistics, with sales of Rs 5 crore in 2023 and a profit of Rs 78 lakh.
The Sharks Are Impressed
As the sharks tasted the pancakes, they were all pleasantly
surprised by the flavor and texture. Anupam Mittal, CEO of Shaadi.com, praised
the quality of the pancakes, while Namita Thapar, CEO of Emcure
Pharmaceuticals, also expressed admiration for the product. The founders'
transparency about their financials, the fact that they had profitable outlets,
and their plans for expansion made the pitch even more appealing.
The Sharks Make Their Offers
The sharks, clearly impressed by the business model and the
product, started making offers. Anupam Mittal was the first to step in with an
offer of Rs 60 lakh for 4% equity, plus a 3% royalty until Rs 90 lakh was
recouped. Namita Thapar quickly matched his offer. Vineeta Singh, CEO of Sugar
Cosmetics, also put forward an offer, stating that her deal would be better
than Anupam's.
A Difficult Decision
With three offers on the table, Sundeep and Akashdeep were
in a dilemma. They appreciated the support and confidence the sharks had shown
in their brand but wanted to ensure they made the best decision for their
business. After some discussion, they asked if it would be possible to secure a
deal with all three sharks.
The Three-Shark Deal
After some negotiations, the founders agreed to a deal with
all three sharks. They would receive Rs 60 lakh for 3% equity in the business,
plus a 3% royalty until Rs 1.2 crore was recouped. This deal valued the company
at Rs 25 crore, a slight reduction from their initial valuation of Rs 30 crore.
The Benefits of the Deal
The deal offered by Anupam Mittal, Namita Thapar, and
Vineeta Singh would provide Uncle Peter’s Pancakes with the necessary capital
to fuel further expansion. The three sharks brought not only financial support
but also expertise in franchising, marketing, and business development. Their
combined network and experience were expected to help Uncle Peter’s Pancakes
scale quickly across India and even abroad.
The Excitement of Closing the Deal
The founders were thrilled to have closed the deal with the
sharks, especially after seeing their enthusiasm for the brand. Anupam Mittal,
Namita Thapar, and Vineeta Singh had all expressed confidence in the brand’s
potential and were excited to support its growth. Sundeep and Akashdeep felt
that the deal would help them take their business to the next level and
continue their journey toward revolutionizing the pancake industry in India.
Future Expansion Plans
With the investment secured, Uncle Peter’s Pancakes now had
the resources to expand its operations. The founders planned to increase the
number of outlets in their home city of Bengaluru and further their reach to
other metro cities. They also had plans to refine their menu and create more
innovative pancake varieties to keep their offerings fresh and exciting.
A Bright Future for Uncle Peter’s Pancakes
The future looked bright for Uncle Peter’s Pancakes as they
embarked on the next phase of their business. The deal with the sharks gave
them not only the financial backing but also valuable mentorship that would
help them grow and succeed. As they continued to offer high-quality pancakes to
a wider audience, Uncle Peter’s Pancakes was well-positioned to become a major
player in the Indian food industry.
Conclusion: A Sweet Success
Uncle Peter’s Pancakes has come a long way since its humble
beginnings as a cloud kitchen. Today, it stands as one of India’s most
successful and beloved pancake brands, with a growing presence across the
country. With the support of the sharks, the brand is poised to reach even
greater heights and bring their delicious, high-quality pancakes to more
customers.
A timeline for the story of Uncle Peter’s Pancakes:
2019: Sundeep Singh founds Uncle Peter’s Pancakes as a cloud
kitchen in Bengaluru, aiming to make high-quality pancakes accessible.
2020: Uncle Peter’s Pancakes grows quickly, offering over 15
varieties, including gluten-free and vegan options.
2022: The brand expands to 40+ outlets across 15 cities,
including Bengaluru, Chennai, and Goa, with both company-owned and franchise
locations.
2023: Uncle Peter’s Pancakes sells 5,000 pancakes daily,
with sales of Rs 5 crore and a profit of Rs 78 lakh.
2023 (Season 3): The brand pitches on Shark Tank India,
seeking Rs 60 lakh for 2% equity and secures a deal with three sharks for Rs 60
lakh for 3% equity plus royalties.
2024 onwards: With new investment and mentorship, the brand
plans further expansion, including refining the menu and increasing its
presence in metro cities.
