Twisting Scoops

Kunwarpreet Singh Juneja and Manmeet Singh Batra are Season 2's most globally-holiday-inspired food founders two childhood school friends from Delhi who were previously in the textile industry, discovered Turkish dondurma (stretch ice cream) during a vacation to Turkey, were so captivated by both the product's unique texture and the theatrical stretching performance that accompanies its serving that they decided to bring the category to India. The two school friends, who were previously involved in the textile industry, stumbled upon the idea for Twisting Scoops during a vacation to Turkey. They were so enamoured by the Turkish ice cream that they decided to bring it to India. Thus, Twisting Scoops was born in 2016.

Twisting Scoops prides itself on using 100% goat milk, which is chemical-free and combined with authentic Turkish ingredients. The ice cream is handcrafted by professionals from Turkey. Twisting Scoops is Asia's first and largest Turkish ice cream chain bringing authentic dondurma (Turkish stretch ice cream, made from goat milk and mastic resin, giving it a distinctive elastic, chewy texture) to Indian consumers alongside the traditional theatrical service (ice cream stretched and spun on a long metal rod before being served, involving playful tricks with the customer) that makes Turkish ice cream an entertainment experience as much as a dessert.

Amount Asked: ₹1 crore Equity Offered: 2.5% Implied Pre-Money Valuation: ₹40 crore

Kunwarpreet and Manmeet walked into Season 2 Episode 40 with one of the most theatrically entertaining pitch openings performing the traditional Turkish ice cream stretching and spinning ritual live for the Sharks, playfully pranking Shark Amit Jain with the stretching ice cream trick that is central to the Turkish dondurma experience. Shark Amit Jain is seen in this video playing with Turkish ice cream on the Shark Tank India stage. The product tasting was unanimously positive Turkish dondurma's distinctive elastic, chewy texture and the rose-pistachio flavour profile that Indian palates found both familiar and exotic created the strongest first-impression product response of Season 2 Episode 40.

Aman Gupta exited on value-add grounds. Aman felt like there was nothing he could contribute to this business. Anupam Mittal also exited on value-add grounds. Anupam felt like the founders were doing great, but he could not understand where he could help out. Namita Thapar exited citing the high valuation relative to the current revenue base and net profit trajectory. Amit Jain exited on domain expertise grounds food and beverage QSR operations are disconnected from CarDekho's automotive marketplace. Peyush Bansal and Aman Gupta were the only Sharks who made an offer together offering ₹50 lakhs for 10% equity plus ₹50 lakhs debt at 12% interest (₹5 crore implied valuation). This was a dramatic 87.5 percent markdown from the founders' ₹40 crore ask.

Twisting Scoops did not strike a deal with the Sharks, as they refused the offer of ₹50 lakhs for 10% equity and ₹50 lakhs in debt at 12% interest. The founders declined the Aman-Peyush offer correctly assessing that ₹5 crore implied valuation for a company generating ₹50 lakh monthly profit (₹6 crore annual net profit) was less than 1x annual profit, an offer so far below fair market value that accepting it would have been commercially self-defeating.

Kunwarpreet Singh Juneja and Manmeet Singh Batra declined the only offer made Aman and Peyush's ₹50 lakhs for 10% equity plus ₹50 lakhs debt at 12% interest. The implied ₹5 crore equity valuation against ₹6 crore annual net profit made the offer commercially unreasonable for founders who had built profitably without any external capital. Twisting Scoops walked out of the Tank without a deal and has continued growing without investment.

As of September 2024, the company is still in business and thriving. They have opened several other outlets in the time after their appearance on Shark Tank and they currently have over 40 outlets across India. Twisting Scoops had a positive overall impact from the Shark Tank appearance. Their appearance on the show was beneficial in terms of brand visibility even without securing a deal. The expansion from 37 to 40 plus outlets in the 18 months after the Shark Tank episode without any external capital, purely from the ₹50 lakh monthly profit reinvestment is exactly the kind of self-funded growth that makes Twisting Scoops one of Season 2's most commercially independent post-Shark Tank success stories.