Amore

Yasser Ali and Nayyer Hussain founded Amore Gelato. Yasser is from America and lives in Mumbai while Nayyer is from Hyderabad but lives in Italy. Yasser holds 50% equity in the company and Nayyer holds 30%. Nayyar Hussain brings the Italy-based operational perspective living in Italy, he maintains the authentic gelato sourcing relationships, ingredient procurement connections, and technical quality standards that give Amore its genuine Italian provenance. Costanzo Malatto the Italian chef and technical director who actually makes the gelatos is the brand's most immediately credible product quality guarantee. A gelato chef trained in Italy producing Amore's flavours gives the product an artisanal authenticity that Indian-made Italian-inspired ice creams cannot claim.

Amore Gelato is India's most authentically Italian gelato and sorbetto brand producing handcrafted frozen desserts using natural ingredients, no artificial colours or preservatives, in a 100 percent vegetarian format covering vegan, dairy-free, fat-free, gluten-free, and sucrose-free categories. The brand operates through six gelato parlours and 25 gourmet gelato partnership locations, and is pivoting to add pre-packaged products for digital and modern trade distribution. Their business is B2B, and they supply to restaurants, hotels, and cafes, but their focus is to scale the pre-packaged business digitally. Their mission is to make this sweet Italian ice cream affordable to every Indian.

Amount Asked: ₹75 lakhs Equity Offered: 4% Implied Pre-Money Valuation: ₹18.75 crore

Yasser and Nayyar walked into Season 2 Episode 24 as India's longest-serving authentic gelato brand having operated since 2006 through the entire arc of India's food service evolution. The pitch opened with the gelato vs. ice cream distinction, immediately establishing that Amore was not selling ice cream in an Italian costume but a genuinely different product with distinct nutritional and sensory properties. The tasting was Season 2 Episode 24's most enthusiastically received food sampling Shark Aman was seen appreciating the taste enthusiastically in the promo video. Aman's "mamamia" reaction while tasting the gelato was one of Episode 24's most shared social media moments.

Namita Thapar exited on domain expertise grounds pharmaceutical distribution and artisanal Italian frozen desserts have no commercial overlap. Peyush Bansal exited on similar grounds optical retail expertise provides no strategic leverage for a premium food service and packaged gelato business. Aman Gupta was the most personally enthusiastic about the product but ultimately did not invest the post-COVID recovery stage and ₹35 lakh monthly revenue against the ₹18.75 crore valuation were commercially difficult to justify. Anupam Mittal was the most personally bonded Shark the Jalal Agha family connection, combined with genuine product quality appreciation and belief in the founders' authenticity, kept him engaged after every other Shark had exited.

The founders pitched their request for 75 lakhs rupees in exchange for 4% equity, and Anupam proposed an offer of 75 lakhs rupees for 7.5% equity, subject to the condition that Amore would generate a monthly revenue of 80 lakhs rupees before March 2023. The founders suggest that what if they achieve ₹80 lakh per month sales by March 2023? Anupam put out an offer on the condition of ₹75 Lakhs for 7.5% of the company which the founders accepted without any hesitation.

Yasser Ali and Nayyar Hussain accepted Anupam Mittal's conditional offer of ₹75 lakhs for 7.5% equity conditional on Amore achieving ₹80 lakhs monthly revenue by March 2023. The deal valued Amore at ₹10 crore (versus the founders' ₹18.75 crore ask) with the equity increasing from the founders' 4% to Anupam's 7.5%. The deal did not formally close after the show aired the ₹80 lakh monthly revenue condition's fulfilment has not been publicly confirmed.

Our research into the company revealed that its Shark Tank deal with Anupam did not close after the show aired. Despite that company is still in business as of December 2023 and they are expanding rapidly. Currently, they have several parlours in 4 cities Mumbai, Delhi, Bengaluru and Pune along with their online business Despite the non-closure, Amore has continued expanding growing its parlour presence from 6 locations to multiple parlours across 4 Indian cities (Mumbai, Delhi, Bengaluru, Pune) and building its pre-packaged product line for digital distribution. The Shark Tank national broadcast gave the brand the consumer awareness that 17 years of operating a premium gelato brand in a nascent category had not yet generated.