What Happened To Aura Bora After Shark Tank?

In the daily routine, people often 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 for their notable absence of calories, sugar, or sodium, and their natural taste devoid of artificial additives.

Aura Bora’s products are derived from plant-based fruits and flavors, showcasing the company’s dedication to natural ingredients. Presently, the company offers 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 to the sharks. Initially, they sought a $150,000 investment for a 5% stake in the company. However, Shark Robert Herjavec was impressed and offered $200,000 for a 15% share, which they accepted.

During the pitch, Kevin, Mark, and Robert sampled the product and were enamored with its unique flavors and appealing packaging. Paul mentioned their existing partnerships with major natural foods distributors, boasting sales of $200,000 from January to January 2021 across 488 stores. They utilized telemarketing and free sampling to garner positive feedback from consumers.

The founders raised a total of $700,000, with Paul retaining a 74% ownership stake in January 2021. Their manufacturing cost per drink is 57 cents, sold to distributors at $1.15, yielding a 50% margin. Their FY21 sales target was $500,000 to $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 flavor and declined to invest. Similarly, Daniel Lubetzky appreciated the brand but expressed skepticism about success in the competitive sparkling water market. Mark Cuban recognized the current profitability but foresaw challenges in scaling nationally, opting out of the deal.

Kevin O’Leary, despite his enthusiasm for the beverage industry, proposed a royalty deal that Paul declined due to feasibility concerns. Robert Herjavec, on the other hand, offered $200,000 for 12% equity, which Paul countered unsuccessfully. Ultimately, Robert proposed the same amount for a 15% stake, which the founders accepted, concluding a successful and exciting deal on Shark Tank.

What Happened To Aura Bora In Shark Tank?

Since Aura Bora’s appearance on Shark Tank, Robert has been advising Maddi Voge and Paul Voge on expanding their vision internationally. Despite the passage of years, the deal with Robert remains open as of July 2022.

By the end of 2021, Aura Bora had expanded its presence to 1,500 stores, including notable retailers such as 7-Eleven, Sprouts Farmers Market, Whole Foods, and Fresh Thyme stores. Additionally, the company introduced new initiatives such as direct-to-consumer sales through a subscription service.

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 operates profitably from its headquarters in San Francisco, California.

As of April 2023, Aura Bora’s product is available in over 5,000 retail stores nationwide, including Publix, Green Star Food, Downtown Pharmacy, Whole Foods, Thrive Market, and Sprouts, among others.

The company’s growth trajectory remains robust, with Crunchbase reporting a significant milestone: Aura Bora raised $10 million in a Series A funding round on September 21, 2022, led by Siddhi Capital. This continued investment underscores 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.