Otimo Brazilian Style Cheese Puffs

Silvia Martinelli and Bruno Waqued, from Maple Ridge, BC, asked for $65,000 for 20% of Otimo Brazilian Style Cheese Puffs, gluten free, nut free, sugar free, vegetarian buns made from manioc root, sold frozen and modified with flavours like jalapeno and tomato and basil for the Canadian market. The company started at farmers markets in 2013, imported shaping equipment from Brazil in 2014, and had sold over 250,000 buns by the end of 2014 through farmers markets, events and small stores. Revenue was about $86,000 in 2015, with 2016 first quarter sales already double the prior year, the company recently breaking even, and a new vendor number secured with Loblaws; the founders are also developing a dry blend mix version of the product.

Joe Mimran went out citing his aversion to products with expiry dates. Michele Romanow went out saying she could not help with the distribution the founders needed. Jim Treliving went out citing the product being off trend due to limited nutritional value and being frozen. Manjit Minhas went out feeling the business was too early stage. Wes Hall went out saying he loved the story but not the business. No deal was made.

Otimo Brazilian Style Cheese Puffs is still operating and sells through its website.