Ruchika Bhuwalka, founder of Millet Amma, gained popularity after Shark Tank episode premiere, promoting health through millet-based products, despite not securing a Shark Tank contract.
Source: Mashable India
Ruchika Bhuwalka Biography: Russell Bhuwalka, the proprietor of Millet Amma, is experiencing a meteoric rise in popularity after the premiere of his Shark Tank episode. Her inspiration to establish the enterprise emerges after the deteriorating health of her husband. The company endeavors to promote India’s health by incorporating the nutritional value of millet into its products. Over time, not only Millet Amma but also the international community began to recognize the value of Mote Anaaj, also known as millet. Each year on December 19, the international community observes International Millet Day. Even though Millet Amma was unable to secure a contract for Shark Tank Season 3, their products undoubtedly touched the hearts of their customers.
Ruchika Bhuwalka established Millet Amma, whereas Ajay Bhuwalka, her spouse, serves as the organization’s chief executive officer. Their organization is known by the brand name Millet Amma, which is Millet Private Limited. The organization has employed Ruchika Bhuwalka and her spouse since October 2017. The couple founded the business after experiencing significant adversity the year prior.
2016 was the year in which Bhuwalka Steel Industries, an enterprise that had previously operated profitably, incurred a loss and ultimately declared bankruptcy. Their father had established the company several years prior. The family achieved tremendous success with Bhuwalka Industries, which is now worth $1100 crore. Nevertheless, due to a decline in the steel sector, they were forced to liquidate their enterprise at an expense of Rs. 100 crore. Amid these persistent tensions, their father passed away from a cardiac arrest.
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Following these occurrences, Ajay developed excruciating lower back pain and inflammation. His ability to stand was hindered. Various individuals advised him to consider implementing dietary modifications. At that moment, he began subsisting exclusively on fruits and vegetables and noticed a marked improvement in his health. Ajay experimented with millets during that period, which proved beneficial as it resulted in notable enhancements in his overall health. As natives of Bengaluru, they established Millet Amma in their municipality, ultimately expanding its reach.
Ruchika, the founder of Millet Amma, is approximately 42 years old. The age of Ruchika Bhuwalka’s spouse is approximately 47 years. In addition to being married since 2003, the couple has one child. Ajay claims that he felt terrible about the fact that he was unable to even lift his infant due to his health problems at the time.
The primary emphasis of Millet Amma Products is on minor millets. With over 50 products in its portfolio, Millet Amma incorporates millet into as much as 90% of its products. According to the founder of Millet Amma, other manufacturers are unable to meet the minimum millet content requirement of 50% millet in their products. Ruchika and Ajay elaborate on the classification of millets, which comprises Major and Minor Millets. Major millets include Ragi, Bajra, and Jowar. Minor millets consist of foxtail, kodo, browntop, and others. The organization places significant emphasis on minor millets due to their superior nutritional value in comparison to major millets.
The Millet Amma Shark Tank Journey provided viewers with a wealth of information regarding the health benefits of millet. During Shark Tank Season 3, Ruchika and Ajay showcased more than fifty millet products and requested one crore rupees in exchange for three percent of the company’s value, or Rs 33.33 crores. The sharks are quite impressed by their voyage. They were, however, unwilling to invest because they believed it to be unscalable. Peyush, a shark, remarks that the product is scalable, but it requires additional funding. Rs. 1 crore is ineffective. Taking any funds from the Shark Tank would therefore be an unproductive use of equity. Shark Azhar advises them to place greater emphasis on their repeat ratio.
The turnover of Millet Amma stands at approximately Rs. 1.9 crore as of the midpoint of the present year. In addition to this, their sales for September 2023 amounted to Rs. 33.5 lakhs. The following describes the attrition for Millet Amma over the past three years:
| Financial Year | Turnover |
| 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) |
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