Malaki

The founders of Malaki, Mohit Bhatia and Ashish Bhatia, two brothers with a passion for food and beverage. Hailing from Mumbai, they come from a family with a rich background in the industry, giving them a natural flair for creating unique and delicious drinks. 99Logos The brand stands out from the competition with their exclusive recipe for a Spice Ginger Ale, which has been a cherished family secret for six decades. Dailymotion Ashish Bhatia and Mohit Bhatia are Season 2's most family-recipe-legacy-leveraging beverage founders — two Mumbai brothers from a food and beverage family background who converted a 60-year-old family Ginger Ale recipe into the centrepiece of a premium Indian beverage brand that had already reached Singapore Airlines Business Class by the time they appeared on Shark Tank.

Malaki is a premium beverage brand based in India that offers a range of products such as alkaline water and tonic water with a focus on health. The brand is known for its specialty in offering a wide range of products, from 24-karat gold flavored water to alkaline nutrient-rich beverages, and spiced ginger ale. It provides sparkling water sourced from the Himalayas and coffee tonic-infused water from Coorg, Kerala with authentic packaging processes. One of the unique features of Malaki is that it doesn't use any artificial sweeteners or food colors, making it a low-calorie drink. 99Logos Malaki is India's most internationally validated premium non-alcoholic beverage brand producing sparkling waters, tonic waters, ginger ales, coffee tonics, and alkaline beverages using local Indian ingredients (Himalayan water, Coorg coffee, heritage Ginger Ale recipe) with no artificial sweeteners, flavours, or colourings, positioned at the premium HoReCa and functional beverage consumer market.

Amount Asked: ₹50 lakhs Equity Offered: 1% Implied Pre-Money Valuation: ₹50 crore

Ashish and Mohit walked into Season 2 Episode 37 as India's most internationally prestige-validated premium beverage founders opening their pitch with the most immediately credible quality signal available: Singapore Airlines Business Class had selected Malaki's sparkling water as their in-flight beverage. The beverage tasting was Season 2 Episode 37's most widely praised product sampling moment. Peyush specifically praised the sparkling water making it the most enthusiastically endorsed beverage product tasting in the episode. During the second season of Shark Tank India, Malaki Business pitched its premium beverages brand to the Sharks in the hopes of securing a deal to grow its company.

Namita Thapar exited on competitive intensity grounds — the premium beverage category in India had multiple well-funded competitors (Raw Pressery, Paper Boat, Appy Fizz) and international brands, and Malaki's geographic concentration in Mumbai made national scale commercially uncertain. Vineeta Singh exited beauty brand expertise provides no specific commercial leverage for premium beverage brand distribution and marketing. Amit Jain exited on domain expertise grounds — automotive marketplace experience is entirely disconnected from premium beverage distribution. Anupam Mittal made a competing offer of ₹50 lakhs for 5% equity (₹10 crore valuation), then escalated to ₹1 crore for 10% equity. Both were declined by the founders who preferred Peyush and Aman's lower-equity terms. Peyush Bansal was personally enthusiastic about the sparkling water quality, and saw in Malaki the opportunity to apply quick commerce and D2C brand-building strategies that could reduce the Mumbai geographic concentration. Aman Gupta co-invested boAt's consumer brand-building expertise and digital marketing capabilities were directly applicable to scaling Malaki's brand awareness beyond Mumbai's HoReCa channels to national D2C and quick commerce distribution.

Aman and Peyush made an initial offer of ₹50 lakhs for 10% equity (₹5 crore valuation). Anupam offered ₹50 lakhs for 5% equity (₹10 crore valuation). Aman and Peyush revised to ₹50 lakhs for 3% equity (₹16.67 crore valuation). Founders countered at 2.5% equity (₹20 crore valuation). Peyush rejected the 2.5% counter and held at 3%. Founders accepted 3% equity. Alippo Courses The negotiation saw Aman and Peyush improve their offer from 10% to 3% equity — a dramatic 7 percentage point equity reduction in response to Anupam's competing offer and the founders' counteroffer. Anupam's escalation to ₹1 crore for 10% was not accepted, and the founders chose Peyush and Aman's ₹50 lakh, 3% equity deal over Anupam's larger capital at worse equity terms.

Ashish Bhatia and Mohit Bhatia accepted Aman Gupta and Peyush Bansal's final offer of ₹50 lakhs for 3% equity at ₹16.67 crore valuation. The founders declined Anupam's competing offer (both ₹50L for 5% and ₹1 crore for 10%) preferring the combination of better equity terms AND Aman's consumer brand building plus Peyush's D2C expertise over Anupam's digital marketplace network at worse valuation terms. The deal was confirmed and formally closed.

Malaki offered a 5% discount on their website after their appearance on TV. Co-founder Mohit also shared how he has been a fan of Shark Tank US and now he gets to be on its Indian adaptation. Both are looking forward to working with the sharks soon! They will soon be available on quick commerce platforms like Swiggy. Springzo Malaki's appearance on Shark Tank India has helped to establish it as a leading player in India's premium beverage market. Malaki continues operating the quick commerce expansion (Swiggy Instamart, Blinkit, Zepto) reducing the Mumbai geographic concentration by making the product available for impulse purchase across India rather than only through HoReCa channels. Aman's consumer brand building expertise and Peyush's D2C scaling methodology were the specific strategic assets needed to convert a prestigious Mumbai HoReCa brand into a nationally distributed premium beverage.