Millet Amma founder Ruchika Bhuwalka is gaining immense popularity after its Shark Tank episode premiere. The idea to start the company strikes her brain after her husband’s degrading health. The company aims to provide millet’s nutritional value through their products to make India healthy. Not only Millet Amma, but the world itself also started appreciating the value of millet or Mote Anaaj over some time. As the world celebrates International Millet Day on 19th December every year. Although Millet Amma was not able to secure a deal on Shark Tank Season 3, their products still touched their customer’s hearts for sure.
Who Is Millet Amma Founder? How Ruchika Bhuwalka Husband Steel Company Reached Bankruptcy?
Ruchika Bhuwalka is the founder of Millet Amma while her husband Ajay Bhuwalka is the CEO of the company. Millet Amma is the brand name for their company Urban Monk Private Limited. Ruchika Bhuwalka and her husband have been working at the company since Oct 2017. The couple started the company after facing a lot of hardships in the previous year.
2016 was a year when their successfully running business of Bhuwalka Steel Industries went to a loss and ended up in bankruptcy. It was their father’s business which started several years ago. The family saw a huge success with Bhuwalka Industries being an 1100 crore company. However, after having a downfall in the steel industry, they lost their business at a loss of Rs. 100 crore. Amid these ongoing tensions, they also lost their father due to cardiac arrest.
After all these incidents, Ajay had severe lower back pain and inflammation. He was not able to stand easily. People suggested that he should make some changes in his diet. It was the time when he started surviving merely on fruits and vegetables and started observing betterment in his health conditions. Ajay tried millets at that time which suited him showing positive improvements in his health. As they belong to Bengaluru, they started Millet Amma from their city making it eventually big.
Millet Amma Founder Age
Millet Amma Founder Ruchika is approx 42 years old. While Ruchika Bhuwalka’s husband is approx 47 years old. The couple got married in 2003 and have a kid as well. Ajay says that he was not even able to lift his child during his health issues and felt bad about it at that time.
Millet Amma Products
Millet Amma Products focus on minor millets. Having more than 50 products, Millet Amma provides up to 90% of millet content in their products. As per the Millet Amma Founder, other manufacturers are not able to provide even 50% millet content in their product, which is their minimum quantity. Ruchika and Ajay further explain the types of millets, which are divided into Minor and Major Millets. The major millets are Jowar, Bajra, and Ragi. While the minor millets are foxtail, kodo, browntop, and more. The company focuses majorly on the minor millets as these have more nutritional value compared to the major millets.
Millet Amma Shark Tank Journey
Millet Amma Shark Tank journey gave a lot of knowledge to the viewers about the benefits of millet. Ruchika and Ajay presented 50+ millet products on Shark Tank Season 3 and asked for Rs. 1 Crore for 3% equity in the company at the valuation of Rs. 33.33 Crore. The sharks find their journey impressive. However, they were not ready to invest as they found it not scalable. While, shark Peyush mentions that it can become scalable, but they need more money. Rs. 1 crore won’t work. Thus, taking any money from the Shark Tank will be a waste of equity. Shark Azhar mentions that they need to focus on their repeat ratio.
Millet Amma Turnover
Millet Amma has made around Rs. 1.9 crore by half of the current year. Apart from that, their September 2023 sales were Rs. 33.5 lakhs. Millet Amma had the following turnover for their last three years:
2020-21 Rs. 1.2 Crore
2021-22 Rs. 1.45 Crore
2022-23 Rs. 2.2 Crore
2023-24 Rs. 4-5 Crore (Projected)
Millet Amma is available on Instagram as @milletamma. Keep reading with Charcha Times for more information.
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