Chapul Flour Shark Tank Net Worth 2023
Chapul Flour appeared on Shark Tank in March 2014 with a company valuation of $1 million. Mark Cuban invested $50,000 in exchange for 15% of Chapul, which increased the company’s net worth to $333,333.
Since then, Chapul has experienced tremendous growth and success. They have secured additional funding and partnerships, leading to an estimated net worth of $2 million as of 2023.
Chapul Flour is a protein-rich energy bar made from sustainable cricket flour. The founder of Chapul is Pat Crowley from Salt Lake City, Utah.
Despite the Sharks’ reservations about cricket-flavored energy bars and Robert’s conviction that selling the flour rather than the bars is the key to success, Chapul has expanded into 3,000-4,000 additional retail shops since appearing on Shark Tank.
What is Chapul Flour? Who is the founder of Chapul Flour?
Chapul Energy Bars are made from sustainable cricket flour and are high in protein. They are the brainchild of Pat Crowley from Salt Lake City, Utah, who was inspired by the potential of insect protein to help preserve the world’s water supply.
The majority of freshwater resources in the Western United States are used for agriculture, with animal production being a significant contributor.
In contrast, insects are a highly efficient source of protein for humans, generating very little greenhouse gases and requiring minimal space.
Crowley began producing Chapul Energy Bars in 2012, using a particular cricket flour to extract protein from crickets.
The bars come in a variety of flavors, including peanut butter and chocolate, dark chocolate with coffee and cayenne, and coconut ginger lime.
Despite insects being a delicacy in many parts of the world, Americans have been slow to adopt them as a food source.
However, Crowley sees Chapul bars as a way to introduce people to the idea of eating insects in a simple and enjoyable way. He raised over $16,000 through a successful Kickstarter campaign to get his business off the ground.
Chapul Flour Shark Tank Pitch
In Shark Tank episode 523 on March 21, Pat Crowley believed that the Sharks would be interested in investing in his cricket-powered protein bar business, Chapul.
Pat was seeking $50,000 in exchange for a 5% stake in his million-dollar company. Despite some hesitation from the Sharks, Mark eventually offered $50,000 in exchange for 15% equity, which Pat accepted.
Chapul had $50,000 in sales per year, and its revenue was growing by 30% month over month. The bars were being sold in natural food stores, bike shops, rock climbing gyms, cross-fit gyms, and other places.
Each bar cost $1 to create and $2.99 to sell, with crickets being the main protein source. Pat chose crickets because the technology to cultivate them on a large scale was already in place, and they were highly nutritious.
After the deal with Mark, Chapul expanded into 3,000-4,000 additional retail shops, with some large stores showing interest in the brand.
Social media was thriving, and the blog was frequently updated, indicating a strong and expanding business.
Despite some people’s reservations about eating cricket-based products, Chapul emerged as a popular option for those interested in “green” eating.
Chapul was the featured “update section” in Season 7 episode 716, where Pat announced that the bars were flying off the shelves and were now available in all 217 Sprouts locations, making $750,000 in sales so far.
Daniel Lubetzky of Kind Bars fame invested in the company in 2016, and Pat is still involved in a nonprofit that assists new insect farming companies in Indonesia. The company has $5 million in lifetime sales as of January 2022.
Competitors of Chapul Flour
The primary competitors of Chapul Flour are; Exo, Cricket Flours, Entomo Farms, ReGrained, Pulsin and BumbleBar.
Net Worth of Chapul Flour
The company valuation was $1 million during the pitch, after the investment done by Mark Cuban the company worth $333,333.
Since then the company have been performing well with annual sales of $1.5 million as of January 2022 and hence the company net worth has increased.
Chapul Flour Shark Tank Updates
Chapul is a company that produces cricket-based flour, which is nutritious and contributes towards sustaining Earth’s water supply. The company was introduced on Season 5 episode 21 of ABC’s ‘Shark Tank’.
During the pitch, Pat Crowley explained that insects convert their food into protein more efficiently than cows, and that insect-based protein can help save water. Pat signed a deal with Mark Cuban and got $50,000 in exchange for 15% equity.
After the show, Chapul received a massive increase in its sales as the effect of the Shark Tank show as it was able to put its products in 3000 to 4000 retail stores in different parts of the country.
Chapul’s protein bars, which had “Shark Tank” investors equally disgusted and intrigued at the idea of eating insects, are actually no longer available for purchase.
Chapul pulled out of the protein bar business back in 2019, after the company’s main packaging provider. However, Chapul is still alive and well, and is focused on developing insect farms.
The company is in the business of building insect farms, and a new farm will be ready in 2023 and will provide 70 jobs. Once operational, it should generate $20 million in sales per year.
Chapul Flour Shark Tank Table Summary:
| ITEM | DESCRIPTION |
| Product | Chapul Energy Bars made from sustainable cricket flour, high in protein |
| Founder | Pat Crowley from Salt Lake City, Utah |
| Shark Tank | Appeared in March 2014 with a company valuation of $1 million. Mark Cuban invested $50,000 in exchange for 15% of Chapul, which increased the company’s net worth to $333,333. |
| Revenue | Annual sales of $1.5 million as of January 2022, with an estimated net worth of $2 million as of 2023 |
| Competitors | Exo, Cricket Flours, Entomo Farms, ReGrained, Pulsin, and BumbleBar |
| Updates | Chapul pulled out of the protein bar business back in 2019 but is still alive and well, focused on developing insect farms. The company has a new farm to be ready in 2023, expected to generate $20 million in sales per year. |
Chapul Flour FAQs
What Is Chapul Flour And How Does It Work?
Chapul Flour is a cricket-based flour that is high in protein and can be used as a substitute for traditional baking flour in recipes. The flour is made from crickets that are raised in modular insect farms designed, built, and operated by Chapul Farms.
The cricket powder used to make the flour is minimally processed and contains all the essential amino acids for healthy muscle growth and development.
In addition to being nutritious, cricket-based flour is also environmentally sustainable as insects use only a fraction of the water and land resources required to produce traditional livestock.
Chapul was introduced on Shark Tank in Season 5, Episode 21, by Pat Crowley, who was disappointed to see how the western world was missing out on such an essential and readily available superfood.
He set up Chapul and began selling energy bars made primarily from cricket-based flour, which come in different flavors to suit every palette. The company has since expanded its product line to include cricket protein powder and an all-purpose, high-protein baking flour.
Chapul has also established the Chapul Farms Insect Innovation & Research Center in Oregon to boost its business and effectively recycle food waste.
What Was The Outcome Of The Chapul Flour Shark Tank Pitch?
Chapul Flour appeared on Shark Tank in Season 5, Episode 21, where the owner, Pat Crowley, pitched his cricket-based flour product.
In his pitch, Pat explained that insects convert their food into protein more efficiently than traditional livestock, and that insect-based protein can help save water.
Mark Cuban invested $50,000 in exchange for 15% equity, which increased the company’s net worth to $333,333.
After the show, Chapul received a massive increase in sales and was able to put its products in 3000 to 4000 retail stores.
Despite the Sharks’ reservations about cricket-flavored energy bars and Robert’s conviction that selling the flour rather than the bars is the key to success, Chapul has expanded into 3,000-4,000 additional retail shops since appearing on Shark Tank.
Today, the company is generating annual sales of over $5 million and is valued at approximately $3.33 million.
What Happened To Chapul Flour After Its Appearance At The Shark Tank?
After appearing on Shark Tank, Chapul Flour experienced a significant increase in sales and was able to put its products in 3000 to 4000 retail stores in different parts of the country.
The company’s net worth increased to $3.33 million, and its annual sales increased to over $5 million. Despite the Sharks’ reservations about cricket-flavored energy bars, Mark Cuban invested $50,000 in exchange for 15% of Chapul, which helped the company expand.
The company shifted its focus from protein bars to cricket flour, and with Mark’s help, it scored about $3 million in seed money from angel investors.
Chapul also established the Chapul Farms Insect Innovation & Research Center in Oregon to boost the business and effectively recycle food waste. Today, cricket flour can be purchased through the Chapul website.
How much was seeking on Shark Tank?
Pat was seeking for $50,000 in exchange for 5% of his company.
How much did he get on Shark Tank?
Pat was able to negotiate a deal with Mark Cuban who offered Pat $50,000 in exchange for 15% equity shares of the company.
Is Chapul Flour still in business?
Yes, Chapul Flour is still in business and available for purchase online.
What are the ingredients of Chapul Flour?
The ingredients used in making Chapul Flour include whole roasted crickets, brown rice flour, almond meal, coconut sugar, shredded coconut and salt.
How is Chapul Flour made?
Chapul Flour is made by roasting crickets in an oven and grinding them into a fine powder and then mixing them with other products to obtain the desired taste.
Where was Chapul Flour invented?
It was invented in Boulder, Colorado, United States.
What does Chapul Flour do?
It is a protein bar made from cricket flour. It is marketed as a healthy and nutritious substitute for other energy bars where the protein source is whey or soy derived powder. It has 30g per 100g of protein in it for dieters on calorie restricted diets who want to get high-quality protein with their diet.
What are the nutritional benefits of Chapul Flour?
The Flour has been proven to be either Gluten free or Wheat free. However it is safe for everyone who eats it and also high in protein.
It is not only as a healthy food but also that it helps reduce all your cholesterol levels, reduces stress on heart and immune system. Being a gluten free food, it helps in weight loss as well as helps in muscle development.
Why is Chapul Flour?
Insects are an important source of protein and have existed long before humans made the switch to eating other animals and plants.
How do I buy Chapul Flour?
Customers can buy Chapul Flour online by visiting its official website http://www.chapul.com/ or Amazon.
Is Chapul Flour approved by FDA?
Yes Chapul Flour is FDA approved and hence safe for consumption.
What is the net worth of Pat Crowley?
The Net worth of Pat Crowley is estimated at $1.5 Million.
