Founded in 2018 by brothers Ravi Rajesh Mundada and Tushar Rajesh Mundada, Aqua Peya has quickly established itself as a fast-growing name in the Indian packaged beverage market. Originally focusing on mineral water, the company has since expanded into ready-to-drink beverages, offering products across six categories, including cumin soda and flavored drinks. Operating from a 40,000 sq. ft. manufacturing unit in Kavalapur, Maharashtra, Aqua Peya’s reach extends to 9,700 outlets across India, with a distribution network of 90 channels, serving 50,000 customers daily.
The Mundada brothers left behind a 15-year-old distribution business to pursue their dream of building a beverage brand. Ravi’s vision for entering the water industry took shape after visiting multiple plants and studying how leading brands operated. Understanding that a small setup wouldn’t survive in the competitive market, they made a bold move—investing ₹3 Crores in a state-of-the-art manufacturing unit. To fund their ambitious project, they mortgaged their house and secured a ₹1.5 Crore loan, showing unwavering commitment to their vision.
Aqua Peya’s product range includes mineral water, cumin soda, and flavored beverages, catering to diverse consumer preferences. Their flagship product, bottled water, contributes 75% of their revenue, while cumin soda accounts for 13%, and the remaining 12% comes from other beverages. The company’s focus on quality, innovation, and affordability has helped it carve a niche in the highly competitive beverage market.
The Mundada brothers recently appeared on Shark Tank India, seeking ₹70 Lakhs for 2% equity, valuing their company at ₹35 Crores. Their pitch highlighted not just their product lineup but also their entrepreneurial journey, marked by risks, strategic decisions, and an unwavering passion for building a trusted beverage brand. While their story impressed the sharks, some concerns were raised. Sharks Anupam Mittal, Aman Gupta, and Piyush Bansal opted out early, citing competition from established brands. However, Shark Namita Thapar saw potential and offered ₹70 Lakhs for 3% equity with a 2% royalty until the investment was recovered. Shark Ritesh Agarwal matched her offer, proposing ₹70 Lakhs for 3% equity.
After careful consideration, Namita and Ritesh decided to join forces, making a final offer of ₹70 Lakhs for 3% equity with a 1% royalty until the investment was repaid. The Mundada brothers accepted, sealing a deal that valued Aqua Peya at ₹35 Crores. This investment not only provides the company with financial backing but also strategic mentorship to scale operations, expand distribution, and strengthen its position in the Indian beverage market.
With its commitment to quality, unique product offerings, and growing market presence, Aqua Peya is poised to become a major player in India’s packaged beverage industry. The Mundada brothers’ journey is a testament to entrepreneurial resilience and innovation, proving that with the right vision and determination, even a highly competitive market can be disrupted
