Startup Wheel 2021 runner-up successfully raised capital for 3 big “sharks”
Episode 8 Shark Tank aired with the appearance of Ma Hai Bread, with its quality and constant innovation, Ma Hai Bread has proven attractive to investors.
Episode 8 “Shark Tank Vietnam” opens with a fundraising session by Mr. Ho Duc Hai and Mr. Doan Van Minh Nhat for the startup Banh Mi Ma Hai (Bread with fish cake). 2 co-founders called for 5 billion VND for 10% of their startup shares.
The issues that Sharks are interested in for Ma Hai’s business model are food hygiene issues; The trend of “Bread with cha ca”; operation activities; … were all answered very clearly and transparently by the two founders.
For example, when Shark concerns about food hygiene and safety. Minh Nhat said that currently this startup is just renting a factory, but the machinery and equipment are guaranteed and have a license for food hygiene and safety.
Shark Tank Vietnam
Besides, Ma Hai Bread also performs product inspection as required every 6 months. Shark Linh asked a question about the operation of Banh Mi Ma Hai and received an answer that currently this startup only focuses on markets such as Ho Chi Minh City, the Western provinces and the Southeast.
The reason that Ma Hai Bread has not been present in the North is because logistics facilities have not been established or completed. Currently, the development channel of Banh Ma Hai’s franchise partners is mainly through word of mouth.
After discussion, Banh Mi Ma Hai made an investment proposal of 5 billion dong for 30% stake and then changed it to 7.5 billion dong for 35% share. However, the Sharks disagree. In the end, Banh Mi Ma Hai agreed to an investment proposal of 5 billion VND in exchange for 36% shares with the companion of all 3 Sharks, Shark Louis, Shark Lien and Shark Linh.
Banh Mi Ma Hai is the runner-up of Startup Wheel 2021, surpassing thousands of projects, now Banh Mi Ma Hai is one of the leading business units in the Banh Mi Cha Ca chain in Vietnam. Currently, Banh Mi Ma Hai owns more than 400 Kiosks, 300 franchised customers covering more than 40 cities and provinces, 03 stores, especially a fish cake processing factory.
