From the heart of Amreli, Gujarat, a young entrepreneur named Poojan Kachhadia dared to dream big, not just for himself but for his hometown and family. His brand, MyPB, is disrupting the health food market with an innovative product: fat-free, high-protein powdered peanut butter. This is the inspiring journey of how local produce, family values, and a global vision came together to create a Shark Tank India success story.

Rooted in Amreli: Family Values and Entrepreneurial Spirit

Amreli, a region often perceived as lagging with limited rainfall and inadequate transportation, typically sees its youth migrating to bigger cities like Surat, Ahmedabad, Vadodara, and Rajkot for business opportunities. However, Poojan and his elder brother made a conscious decision: to build their business right there in Amreli and uphold their joint family tradition. Poojan believes that while monetary happiness is fleeting, the joy derived from family is permanent, a legacy passed down through generations.

From Local Peanuts to a Global Vision

With a BSc in Chemistry, Poojan began his entrepreneurial journey in 2018. Inspired by his brother, he decided to leverage Amreli’s abundant agricultural produce, specifically peanuts. His global ambition led him to explore e-commerce platforms worldwide. A discovery on Amazon US sparked the idea: powdered peanut butter. Intrigued, he ordered a pack, finished it in just ten days, and knew he had found his calling. He realized that while established protein brands offered peanut butter, no one was making it in powder form in India.

MyPB: Reinventing Peanut Butter for a Health-Conscious World

Poojan recognized a critical issue with regular peanut butter: it often contains over 200 calories, excessive fats, preservatives, and artificial flavors per serving. His vision was to offer a healthier alternative. Thus, MyPB, a fat-free, high-protein powdered peanut butter, was born.

How it Works: Simply take the MyPB powder, add a little water, mix for just 7 seconds, and voilà – your high-protein peanut butter is ready! It’s not just a spread; it’s a versatile ingredient perfect for smoothies, cupcakes, brownies, baking, or cooking.

Unmatched Nutritional Benefits:

• Three times fewer calories than regular peanut butter.
• Up to 85% less fat.
• Double the protein content per equivalent serving (MyPB’s 16g serving provides 8g protein, compared to a regular 32g serving which also provides 8g protein).

The Patented De-Fatted Cold Press Technology: MyPB’s unique manufacturing process involves sourcing raw peanuts locally from Amreli, gently roasting them with precision to ensure optimal taste, and then carefully removing the red skin and any over-roasted nuts. The crucial step is the cold-press technology, which extracts the excessive fats while preserving the natural nutrients and taste. Unlike conventional peanut butter, MyPB contains only natural ingredients, free from emulsifiers, preservatives, and artificial flavors. While both MyPB and regular options may contain sugar, MyPB also offers a jaggery variant for its chocolate peanut butter flavor.

The Shark Tank Dream and Entrepreneurial Grit

Poojan had been watching Shark Tank for five years, drawing inspiration to start his own venture. This was his moment. Despite initial skepticism from some sharks about the need for fat removal from healthy peanuts and the challenge of creating a new category, Poojan stood firm. He defended his product by highlighting India’s protein deficiency over fat deficiency, asserting that people can get healthy fats from other sources like ghee, but a convenient protein source without the extra fats was a market need.

During the pitch, the branding “Authentic American PB” on his product led to a discussion. While Poojan clarified that it referred to the “American taste” that inspired him, sharks pointed out that “American Powder” could be misleading as the product is proudly Gujarati.

Business Growth and Financial Performance

MyPB officially launched sales in August 2023. Poojan’s revenue trajectory demonstrates impressive growth:

• FY 2023-24: INR 5.5 Lakhs (Net Sales)
• FY 2024-25: INR 81 Lakhs (Net Sales)
• Up to September of the current year: INR 60 Lakhs (Net Sales)

With a total investment of approximately INR 1 Crore, MyPB has achieved profitability, boasting an 8% EBITDA positive margin for the last four months. Poojan projects closing the current year with INR 2 Crores in sales. The brand’s distribution is strong across e-commerce platforms, with 50% from Amazon, 48% from their website, 1% from Flipkart, and 1% from Blinkit. Notably, the revenue from selling the extracted peanut oil to mills is excluded from MyPB’s sales figures, directly reducing the cost of goods sold.

The Shark Tank Deal and Future Plans

Poojan sought INR 17 Lakhs for 10% equity. After intense negotiations and varying offers:

• Vineeta Singh offered INR 70 Lakhs for 14% equity.
• Aman Gupta and Varun Dua jointly offered INR 70 Lakhs for 20% equity.

Ultimately, a compelling deal was struck: Poojan accepted INR 70 Lakhs for 15% equity from three sharks: Vineeta Singh, Namita Thapar, and Varun Dua.

Post-deal, Poojan emphasized his commitment to judiciously investing the funds, focusing on sustainable growth, and aiming to avoid further funding rounds. His journey from an aspiring entrepreneur watching Shark Tank to securing a deal on the platform is a testament to his resilience and innovation.

The “Smooth or Rocky” Entrepreneurial Path

In a post-deal game, Poojan reflected on his journey:

• Turning a home recipe into a product: Rocky. It involved over 200 trials, with initial doubts, but ultimately success.
• Locking in pricing and margins: Smooth.
• Getting real customer feedback: Rocky. Customers are more likely to share negative reviews, requiring proactive engagement for positive feedback.
• Getting timely payments: Rocky.

To support his business, Poojan received a complimentary year’s subscription to PhonePe Payment Gateway, offering zero charges for smooth payment processing.

Poojan Kachhadia’s MyPB is more than just a product; it’s a narrative of innovation, resilience, and a deep-rooted commitment to family and community, poised to make a global impact from Amreli.