Korean barbecue favorite Chi'Lantro is the latest Shark Tank success story from Austin. Founder Jae Kim appeared on Friday's episode of the ABC show to pitch his award-winning food truck, restaurant, and catering concept to big-name investors.
He hooked a deal with real estate maven Barbara Corcoran and will receive $600,000 in exchange for 20 percent equity in the growing restaurant endeavor, which is on track to reach $6 million in sales this year.
"Barbara is the perfect person for Chi'Lantro's growth," said Kim in a release. "She values the culture of Chi'Lantro and sees and trusts my vision to grow our company into a billion-dollar company. Barbara grew her company from having nothing, so she was able to relate [to] how I continue to grow my company today."
In just six years Kim has grown Chi'Lantro from a lone food truck to a successful chain with four brick-and-mortar locations in Austin, as well as a catering department and kimchi facility. With the investment, Kim looks to expand across Texas and beyond. The first stop? A restaurant in Houston.
This isn't the only Austin company to hook big money on the hit show. PrideBites scored a deal with Lori Greiner and Robert Herjavec, and young Mikaila Ulmer wooed Daymond John with her sweet lemonade.