Plastic utensils are a large contributor to pollution and harm to wildlife. Engineer Dinesh Tadepalli created the edible IncrEdible Eats spoon, the perfect substitute for plastic spoons. Dinesh pitched his business on Shark Tank and struck a deal with Lori Greiner. Today, IncrEdible Eats is worth an estimated $3 million.
Dinesh Tadepalli’s Background
Dinesh Tadepalli hails from South India and grew up in a business-minded family. The aspiring businessman went to Anna University in Tamil Nadu, graduating with a degree in electronics engineering and communications. Next, he pursued a master’s degree in electrical engineering at USC.
After graduating, Dinesh interned as a technical staff member at VeriEZ Solutions, Inc. In 2009, he became a Design Engineer 2 at Sandisk. Nine years later, he became an angel investor at Kulfi, an Indian micro-content platform.
Founding IncrEdible Eats
While in the process of moving to the United States for his masters, Dinesh became aware of how harmful plastics are to the planet.
One day, he took his children to eat ice cream and noticed that the spoons being used by his kids were all made of plastic. This inspired him to create a spoon that could be ingested after use.
In 2018, IncrEdible Eats released edible spoons with a range of flavors to choose from. This includes rice, corn, chickpeas, and wheat. These utensils can adapt to the heat or coldness of the food.
Shark Tank Appearance
In late 2021, Dinesh appeared on season 13 of Shark Tank, seeking $500,000 in return for a 7% stake in his company. Right from the start, Lori Greiner was interested in the eco-friendly appeal of the product and could see its long-term potential.
Lori and the other Sharks were curious about the cost of production and the latest sales. The investors were surprised by its cost and disappointed in the $170,000 worth of sales over 2.5 years. This was a big turn-off for a majority of the Sharks.
However, Lori Greiner stood her ground. Dinesh proposed 7% for $500,000 and raised it to 12% but Lori wanted more equity! They eventually agreed a deal at 15% for $500,000.
After Shark Tank
Two days after their Shark Tank episode aired, IncrEdible Eats got $50,000 in pre-orders. Several food and lifestyle media outlets mentioned how ingenious the invention was, which gave their profile a massive boost. The deal with Lori never closed as she wanted to change the terms of the deal. Potentially she found something negative during due diligence.
The business created more flavors, and the prices were reduced. The adjustment has helped Dinesh Tadepalli’s company grow 18% overall, so they are doing more than fine.
According to a Business Journal article, they were on track to make $300,000 in sales for 2021. In January 2022, IncrEdible Eats secured a deal to provide Dippin’ Dots with their eco-friendly spoons. This was a big win for Dinesh who had recently missed out on a partnership with a large fast food chain.
In 2022, it’s estimated the company made over $500,000 in annual revenue. To expand their product line, they’re considering adding edible sporks, knives, chopsticks, straws, and even bowls. This should increase the company’s $3 million valuation.
In July 2023, Dinesh got a job as the Principal Member of Technical Staff for AMD. It appears he’s moved back to India for the job. Despite the success, the startup isn’t generating enough revenue for Tadepalli to work full-time on the venture. Also, it’s worth noting Kruvil Patel is a co-founder even though he didn’t attend the pitch.
