Shark Tank India 4: In the latest episode of Shark Tank India 4, Dhruv Kohli, founder of Boba Bhai, pitched his Gen Z-focused food brand, seeking ?50 lakh for 0.3% equity at a ?166 crore valuation. While his bubble tea impressed the Sharks, his Korean-style burgers received criticism, with Anupam Mittal calling Korean food a "fad." Despite mixed reactions, Dhruv secured a ?90 lakh deal for 1% equity from Namita Thapar and Viraj Bahl. Viraj defended the rising popularity of Korean cuisine, highlighting its appeal among Gen Z. The deal also included a 0.5% royalty until ?45 lakh was recouped.
In the latest episode of Shark Tank India 4, entrepreneur Dhruv Kohli introduced his food brand, Boba Bhai, aimed at Gen Z consumers. Launched in October 2023, the brand offers a unique blend of bubble tea with an Indian twist and Korean-style burgers infused with local flavours.
Kohli entered the pitch with an ambitious ask of ?50 lakh for 0.3% equity, valuing his company at ?166 crore. His pitch attracted mixed reactions from the Sharks, especially regarding his valuation and food offerings.
During the pitch, the Sharks showed interest in Boba Bhai's bubble tea, but its Korean-style burgers faced criticism. Anupam Mittal found the burgers too spicy and dismissed the hype around Korean food, calling it a "fad." He remarked, "If you want it so spicy, then keep biting on chillies."
In contrast, investor Viraj Bahl defended the popularity of Korean cuisine, stating that spicy food trends are growing among Gen Z. He highlighted how Korean noodles have become mainstream in India.
Despite the debate, Dhruv Kohli managed to secure an investment deal from Namita Thapar and Viraj Bahl. The final deal was ?90 lakh for 1% equity, along with a 0.5% royalty until ?45 lakh was recouped.
Initially, Kohli countered with a ?1.2 crore offer for 1% equity, but he ultimately agreed to the revised ?90 lakh offer.
After Dhruv Kohli exited the pitch, Shark Kunal Shah returned and praised him, calling him a "hard-working and driven founder." This endorsement further highlights Kohli's determination to grow Boba Bhai into a successful Gen Z-focused brand.
Following the deal, Dhruv Kohli expressed his excitement, stating, "We're not just a food brand; we're a Gen Z-focused community creating unique experiences." He emphasised how the feedback from the Sharks was valuable and looked forward to expanding Boba Bhai with the support of his new investors.
For more informative articles on historical and upcoming events from around the world, please visit Indiatimes?Events.