What Happened To Aura Bora After Shark Tank?

In their daily routines, many people indulge in soft drinks, whether they prefer soda or sparkling water. Aura Bora, an American company, specializes in crafting plant-based sparkling waters infused with various floral essences.

While the market offers numerous sparkling water options, Aura Bora’s products stand out due to their notable absence of calories, sugar, or sodium, as well as their natural taste, free from artificial additives.

The company’s offerings showcase a commitment to natural ingredients, featuring a diverse array of floral-infused options, including Peppermint Watermelon, Basil Berry, Cactus Rose, Lemongrass Coconut, and Lavender Cucumber.

Did Aura Bora Get a Deal on Shark Tank?

In Shark Tank Season 12, Episode 11, the founders of Aura Bora, Maddie Voge and Paul Voge, pitched their sparkling herbal waters, seeking a $150,000 investment for a 5% stake in the company. Impressed by their product, Shark Robert Herjavec offered $200,000 for a 15% share, which they accepted.

During the pitch, Kevin, Mark, and Robert sampled the drinks and were captivated by their unique flavors and appealing packaging. Paul highlighted their partnerships with major natural foods distributors, reporting sales of $200,000 from January to January 2021 across 488 stores. They employed telemarketing and free sampling strategies to generate positive consumer feedback.

By January 2021, the founders had raised a total of $700,000, with Paul retaining a 74% ownership stake. Their manufacturing cost per drink was 57 cents, sold to distributors at $1.15, yielding a 50% margin. For the fiscal year 2021, their sales target was set between $500,000 and $600,000, with projected revenues of $2.5 million to $3.5 million by 2022.

While Lori Greiner admired the brand name and packaging, she lacked passion for the flavors and chose not to invest. Daniel Lubetzky appreciated the brand but expressed skepticism about competing in the sparkling water market. Mark Cuban acknowledged the current profitability but anticipated challenges in scaling nationally, opting out of the deal.

Despite his enthusiasm for the beverage industry, Kevin O’Leary proposed a royalty deal that Paul declined due to feasibility concerns. Ultimately, Robert Herjavec’s offer of $200,000 for 15% equity concluded a successful and exciting deal for the founders on Shark Tank.

What Happened To Aura Bora In Shark Tank?

Since its appearance on Shark Tank, Aura Bora has received valuable guidance from Robert Herjavec on expanding its vision internationally. As of July 2022, the deal with Robert remains open.

By the end of 2021, Aura Bora had significantly increased its presence, expanding to 1,500 stores, including notable retailers such as 7-Eleven, Sprouts Farmers Market, Whole Foods, and Fresh Thyme. The company also introduced direct-to-consumer sales through a subscription service to enhance accessibility.

On June 8, 2021, Aura Bora secured a $2 million seed round investment from Sku Ventures and Balanced Breakfast, as reported by Crunchbase. As of July 2022, the company was operating profitably from its headquarters in San Francisco, California.

By April 2023, Aura Bora’s products were available in over 5,000 retail stores nationwide, including Publix, Green Star Food, Downtown Pharmacy, Whole Foods, Thrive Market, and Sprouts.

The company’s growth trajectory remains strong. On September 21, 2022, Aura Bora raised $10 million in a Series A funding round led by Siddhi Capital. This continued investment highlights the company’s promising outlook and ongoing expansion efforts.

What Is the Net Worth of Aura Bora?

As of 2022, Aura Bora is estimated to be worth $20 million, reflecting its significant market value. The demand for Aura Bora’s products remains robust within the United States’ sparkling water market, showcasing the company’s successful growth and strong consumer interest.