What Is Chapul?
Chapul Cricket Bars contain cricket flour, a sustainable, protein-rich energy source. There’s a new flour being made this week from ground-up, iron-rich crickets.
The Chapul energy bar contains protein derived from crickets, and this is revolutionizing the way people think about food. Crickets are a key ingredient in each bar.
Chapul Flour energy bars are protein-rich and made with sustainably sourced cricket flour.
It is even possible to make flour from ground-up insects with high iron content. Chapul was created by Pat Crowley of Salt Lake City, Utah, also the founder of Chapul.
Agriculture dominates freshwater sources in the western United States, with animal production accounting for the greatest share of total use.
Plant materials are extremely efficiently converted by insects into highly nutritious protein sources for humans while emitting very few greenhouse gases and consuming extremely little space.
|Product / Business||An energy bar based on cricket flowers|
|Investment Asking For||$50,000 for 5% equity in Chapul|
|Final Deal||$50,000 for 15% equity in Chapul|
|Episode||Season 5 Episode 21|
|Business Status||In Business|
Who Is The Founder Of Chapul?
Chapul was founded by Pat Crowley of Salt Lake City, Utah, its president.
Crowley became interested in eating insects after discovering that insects contain a high protein content and that eating insect protein could contribute to preserving the world’s water supply.
Our agricultural sector consumes more than 90 percent of our total water supply. Feeding insects could reduce this consumption significantly.
The conversion of insects’ food into protein is ten times greater than that of cows and pigs, making them a superfood and source of protein for humans alike.
Insects are considered delicacies in many parts of the world, and they are even eaten raw! In 2012, Crowley began manufacturing Chapul Energy Bars for the first time.
Chapul bars contain cricket flour, a protein extracted from insects, primarily crickets.
You can choose from peanut butter and chocolate, dark chocolate with cayenne and coffee, coconut ginger lime, and many other flavors.
The United States doesn’t seem to be particularly fond of bugs, even though 80 percent of the world’s population consumes 1,700 different insects for nutrition.
Crowley describes Chapul bars as “a simple, delightful introduction to a particular delicacy,” according to Crowley.
Chapul Before Shark Tank
Chapul is one of the nation’s leading energy bar manufacturers and incorporates cockroaches into every bar.
Pat Crowley and his pals formed Chapul to assist the environment as their primary emphasis.
The majority of Pat’s funds for his company came from Kickstarter, just like many other entrepreneurs featured on recent Shark Tank episodes.
Pat was able to effectively garner numerous followers even though many Americans were skeptical of eating crickets due to the product’s originality and the benefits of each bar compared to competitors, such as the inclusion of additional protein.
Chapul was able to get into a diverse range of retailers before appearing on Shark Tank, and the company was growing rapidly due to its mission and creativity.
During season five, Pat applied to Shark Tank to bring a Shark onto his team to help him grow, and he was selected to participate.
How Was The Shark Tank Pitch Of Chapul?
Pat Crowley appeared on Shark Tank requesting an investment of $50K for 5 percent equity in Chapul.
Final Deal: Mark agreed to invest $50,000 in exchange for 15% of Chapul.
What Happened To Chapul After Shark Tank?
Following the conclusion of Shark Tank, the agreement between Chapul and Mark was finalized.
Pat and Mark met in person in a store to discuss how Mark could help Pat sell the bars and reach out to new customers.
Pat has also benefited from the Shark Tank impact, as his company is quite engaged in online media sources, such as YouTube and Facebook.
They were able to expand their consumer base by gaining access to Sprouts Farmers Markets.
The Chapul founders have done a fantastic job of successfully launching a completely new concept into the American market, educating the public on the product’s benefits, and promoting the company’s name and brand in as many places as possible.
People who have tried the bars have generally expressed delight in both the taste and the original concept.
The fact that there are crickets in the pubs is not even a point of contention for most people.
Chapul Shark Tank Update
Even though Pat successfully acquired roughly $16,000 in funding for his company through a Kickstarter campaign, Chapul did not initially garner much popularity.
People were cautious about moving from solutions that had already been tried and tested to ones that relied on protein derived from insects; yet, the unorthodox nature of eating bugs did not sit well with many customers.
On the other hand, Pat did not give up hope and continued to advocate for the cause in which he believed. He also used sushi as an illustration and highlighted how raw fish was unheard of in American cuisine before the introduction of sushi, which was a welcome shift.
Chapul successfully struck cooperation partnerships with establishments such as natural food stores, bike shops, gyms, and fitness centers, all of which contributed to the brand’s gradual rise in popularity.
In addition, after individuals experienced the product for themselves, they became more open to the concept, which resulted in Pat’s company gaining the exposure that he had worked so diligently to get.
Pat signed a contract with Mark Cuban during Chapul’s time on ‘Shark Tank,’ and in exchange for 15 percent of the company, he received $50,000. The agreement was highly beneficial for Chapul.
After then, Chapul began to appear on the shelves of various retail establishments, with Sprouts Farmers Market being the first big retail establishment to begin carrying the brand’s products.
Because their co-packer fell out of business in 2019, Chapul was forced to make the difficult decision to stop supplying energy bars. However, Pat was able to keep his business afloat by selling flour made from crickets.
He stated that he had made several million dollars in sales over his lifetime by 2022.
In addition, Pat successfully attracted enough financial backing to enable the establishment of the Chapul Farms Insect Innovation & Research Center in Oregon. This was done so that Pat could expand his business and efficiently recycle food scraps.
As of right now, the only product that the firm sells is flour; as a result, interested buyers can purchase a variety of varieties of Chapul cricket flour on Amazon and the company’s website.
It will cost you $45 for a bag that weighs one pound. Because Pat is devoting an extraordinary amount of time and energy to research and development, we are confident that Chapul will enjoy even greater levels of success in the years to come.
Is Chapul Still In Business?
Chapul Cricket Bars has secured its largest deal since appearing on Shark Tank: it has partnered with Sprouts Farmers Market to distribute its products through its 217 stores nationwide.
Chapul has grown from two employees (including Crowley!) to eight, and the company is currently selling Cricket Flour Protein in one-pound bags ($45 each) and single-serve 18g pouches (a four-pack costs $9).
Mark Cuban, according to Crowley, has been a “phenomenal asset to our staff.” Chapul is still in business with over $2 million per annum as of June 2022.
What Is the Net Worth Of Chapul?
The valuation of Chapul was $1 million when it appeared on Shark Tank.
The net worth of Chapul is $2 million as of 2022.