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The founder of Boba Bhai secured a deal with Namita Thapar and Viraj Bahl.
Shark Tank India 4 premiered on January 6. (Photo Credits: Instagram)
South Korean culture has continued to captivate the world for the past decade or so. Be it their fascinating dramas, infectious songs or scrumptious food, the nation has left its mark on the global map. This cultural surge, which is also sometimes known as the Hallyu Wave, has also influenced Indians, especially the Gen Zs. The rising popularity of Korean culture also became a topic of discussion on Sony TV’s Shark Tank India 4.
In the latest episode of the business reality TV show, Dhruv Kohli, founder of a Gen Z-focused brand called Boba Bhai, pitched his business to the judges. Launched in October 2023, the food chain specialises in classic bubble tea flavours with an Indian twist and offers Korean-style burgers infused with local flavours. Kohli sought Rs 50 lakh for 0.3% equity, with a valuation of Rs 166 crore. His pitch received mixed reactions from the Shark Tank judges.
Namita Thapar said, “Main shock ho gayi aapka valuation dekh ke.” Meanwhile, Kunal Bahl revealed that he had already invested in the brand and informed us that he was out of the pitch. The revelation left sharks Namita and Aman Gupta with many questions, which they continued to ask Bahl. However, he refused to answer them and suggested they question the Boba Bhai founder instead.
After this, they tasted the brand’s drinks and burgers. While the boba drinks were an instant hit among the judges, they quite liked the burgers, with Anupam Mittal highlighting that the spice level was too high for his palate. The Shaadi.com founder dismissed the hype around Korean food, calling it a “fad”.
Aman responded by highlighting that Korean foods are spicy in nature. He mentioned, “Korean food with high spice is becoming mainstream. Spice is becoming trendy among Gen Z.” Meanwhile, Anupam replied to it, saying, “If you want it so spicy, then keep biting on chillies.” However, he admitted that his “daughter loves” the boba drinks.
Viraj Bahl also defended the rising popularity of Korean cuisine, emphasising that spicy foods are becoming a trend among Gen Z. He mentioned that spicy Korean noodles are a massive hit in India.
In the show, the Boba Bhai founder also introduced a new range of ice creams, which impressed the judges and prompted them to negotiate an investment. After much discussion, Namita and Viraj teamed up and offered Kohli Rs 90 lakh for 1% equity and a 0.5% royalty until Rs 45 lakh is recouped.
The entrepreneur countered with an offer of Rs 1.2 crore for 1% equity, which led the two judges to revise their investment to Rs 90 lakh for 1% equity. Ultimately, Kohli accepted the offer, and following the deal, he expressed his excitement, saying, “We’re not just a food brand; we’re a Gen Z-focused community that creates unique experiences.”