shark tank incredible eats update
|

IncrEdible Eats Edible Cutlery Update | Shark Tank Season 13

Plastics are killing the environment. So why not have an edible alternative to single-use plastic cutlery? This genius idea from Dinesh Tadepalli could hit it big with help from a shark. After a successful pitch on Shark Tank Season 13, read our IncrEdible Eats update to find out what happened!

If you’re short on time, here’s a quick overview of what happened to IncrEDIBLE Eats after Shark Tank!

Dinesh Tadepalli appeared on Shark Tank Season 13 and left with a deal from Lori Greiner for $500,000 for 15% equity. In terms of an IncrEDIBLE Eats update, the company is still in business and has sold 6 million spoons with sales spiking by 300% since Shark Tank. Further, the company has partnered with Dippin’ Dots to bring its spoons to select locations.

Shark:  Result: 
Lori Greiner Accepted deal of $500,000 for 15% equity 
Mark Cuban $500,000 for 20% equity
Kevin O’Leary $500,000 for 35% equity
Daniel Lubetzky $500,000 for 25% equity
Barbara Corcoran No Offer

Shark Tank IncrEdible Eats Update

shark tank incredible eats update

  • Entrepreneur: Dinesh Tadepalli
  • Business: Edible straws and utensils
  • Ask: $500,000 for 7% equity
  • Result: $500,000 for 15% equity
  • Shark: Lori Greiner

After arriving in the U.S. to pursue a Master’s in Electrical Engineering, Dinesh Tadepalli became aware of the harm that plastics could do to the environment. His company, IncrEDIBLE Eats, aims to change the way people think about disposable utensils with its innovative edible utensils.

Edible Sproks
incrEDIBLE Eats Edible Sporks

incrEDIBLE Eats spoons and sporks are the most eco-friendly option for on-the-go cutlery. Help preserve nature by switching from plastic to our sustainable spoons that have no harmful impact - even if you throw them out!

We earn a commission if you make a purchase, at no additional cost to you.

The utensils are made to be low-calorie and vegan, with a range of flavors to perfectly complement hot and cold foods and beverages. It’s a genius way to remove plastics from the equation entirely.

When the sharks taste them, they agree that the product is amazing. Mark Cuban wonders aloud why he didn’t think of something like this — it’s so simple and effective. Lori Greiner is so enthusiastic about the product, saying she’d buy and eat them on their own.

All of this sounds amazing, but then they get down to the numbers. Despite having been in business for 2.5 years, IncrEDIBLE Eats has only done $170,000 in lifetime sales.  

In 2019, the business was interested in B2B food service because that’s where most plastic is being used. However, COVID-19 had the company exploring B2C and direct-to-consumer sales instead.

The spoons are pricy. They are 10-20x more expensive than plastic spoons, even for wholesale and food service. This creates an obvious sticking point for some of the sharks.

Kevin O’Leary doesn’t like the work that would have to go into education — teaching people they can eat the cutlery is going to be a huge deal. He wants to talk about money, but Lori wants to know more about Dinesh.

He goes into his backstory, which refocuses the sharks on his enthusiasm. 

Barbara Corcoran likes his enthusiasm, but she’s worried that he might be blinded by it. It’s a lot to ask restaurants to upsell the edible spoons, and she foresees a lot of unique challenges, so she drops out.

Guest shark Daniel Lubetzky doesn’t agree with Barbara’s statement. Still, he’s struggling with something else — the business isn’t scalable, at least not yet. 

The valuation, on the other hand, suggests that it’s proven and scalable. He just doesn’t see that the company is worth $7 million. For this reason, he doesn’t want to invest.

Kevin agrees that the valuation makes no sense. Instead, he offers Dinesh $500,000 for 35% equity. Before he can say anything else, Mark interjects, saying the entrepreneur is thinking too small. 

He wants to expand to grocery sales, too. Mark offers $500,000 for 20% instead.

Continuing off the back of Mark’s offer, Lori says that perhaps Mark isn’t seeing it big enough — she can see IncrEDIBLE eats blowing up the market. 

Lori offers $500,000 for 15% of the business, which prompts Daniel to jump back in. Daniel offers $500,000 for 25% equity.

Dinesh has four offers on the table, which is something nearly unheard of on Shark Tank. He decides to counter, asking any of the sharks if they’ll do 12% equity, but no one wants to bite. 

Mark decides to drop out at this point — he doesn’t think that the entrepreneur is valuing the sharks since he obviously came in with a fixed price on his mind.

After losing a shark, Dinesh quickly accepts Lori’s deal of $500,000 for 15% equity. How does this work out for him? Find out in our IncrEDIBLE Eats update.

We were able to catch up with Dinesh to get an official IncrEDIBLE Eats update. He told us that since airing on Shark Tank, sales and revenue have spiked almost 300%. Even better, most of this is organic and Dinesh told us that they are hardly spending any money on paid ads.

Dinesh shared that the first few months after airing were a bit stressful because they had inventory issues and couldn’t monetize the initial few months after airing. “That was a really stressful time,” Dinesh told us.

IncrEDIBLE Eats has now shifted its focus and is trying to hone in on food service, theme parks, aquariums, airlines, and corporate offices. “A few of them reached out to us due to Shark Tank,” Dinesh told us!

Since airing, Dippin’ Dots has also announced a partnership with IncrEDIBLE Eats to bring edible spoons to select franchise locations. 

Our IncrEDIBLE Eats update found that the deal with Lori didn’t go through, but Dinesh has been working hard to secure funding and continue expanding the business. 

The company is currently valued at around $2 million, and they’ve opened up a 2023 SAFE note offering to expand their pool of investors. 

Edible spoons, sporks, and straws are available on Amazon and directly from the IcrEDIBLE Eats website. They’ve sold over 6 million spoons to date, and are on track to expand into even more shapes and flavors. 

Sustainability is still at the forefront of their mission. In addition to eco-friendly and recyclable wrappers, the company has been able to offset 200% of its carbon footprint. 

This IncrEDIBLE Eats update shows that the little spoon with big dreams for changing the way people consume plastics is well on its way to continued success. 

Before you go, be sure to check out some other company updates from Shark Tank Season 13 Episode 3:

For more on Shark Tank Season 13, be sure to check out our Season 13 products page.

Website | + posts

Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!