Shark Tank India, the popular business reality show, is back with its fourth season, streaming exclusively on Sony Liv starting January 6. This season introduces a new judge, Viraj Bahl, the founder and managing director of Veeba Foods. He joins the panel alongside the familiar faces of Aman Gupta, Anupam Mittal, Namita Thapar, Vineeta Singh and Peyush Bansal.
Who is Viraj Bahl?
Viraj Bahl is a key figure in India’s fast-moving consumer goods sector, known for founding Veeba Foods, one of the leading sauce manufacturers in the country. Since its inception in 2013, Veeba has established itself as a prominent player in the food industry. But the road to success for Viraj was not without its challenges. His entrepreneurial journey has been defined by resilience, determination, and the drive to overcome setbacks, according to the media reports.
Viraj’s connection with the food industry began in his childhood, with frequent visits to his father’s factory and the Fun Foods stall at Aahar Delhi, where he had his first job. His passion for the business grew over the years, but his father, Rajiv Bahl, urged him to first prove his ability to support his family. To meet this challenge, Viraj initially pursued marine engineering, successfully clearing the entrance exam and securing a well-paying job after completing his course.
Viraj Bahl: Early days
Despite achieving his father’s goal, Viraj’s heart remained in the family business, and in 2002, he joined Fun Foods, which was rapidly growing under his father’s leadership. Viraj’s contributions were crucial to the company’s success, helping it become a household name in the Indian market.
However, in 2008, after six years of hard work, Fun Foods was sold to Germany’s Dr. Oetker for Rs 110 crore, a decision Viraj did not agree with. Although passionate about the company, he had no choice but to move on. This moment marked a pivotal turning point in Viraj’s entrepreneurial career.
Viraj Bahl: Overcoming challenges and building success
Viraj Bahl’s entrepreneurial journey has been shaped by perseverance and a commitment to his family’s legacy in the food industry. His path to success, however, was not without challenges, which he navigated with determination and the willingness to learn from setbacks.
Determined to continue his journey, Viraj launched Veeba Foods in 2013, with a vision to redefine the Indian food landscape. The brand quickly grew in prominence, setting new standards in quality and innovation in the sauce manufacturing industry.
Viraj met his father’s challenge
To meet his father Rajiv Bahl’s requirement of proving his ability to support his family before joining the family business, Viraj took a job with a merchant navy company in Singapore while continuing his studies. Through hard work, he achieved his goal by 2002, earning a salary of 3 lakh rupees per month. Finally, with his father’s approval, Viraj entered the family business, Fun Foods, and played a crucial role in its transformation into a successful brand over the next six years.
New beginning after fun foods
In 2008, a major turning point came when Viraj’s father decided to sell Fun Foods to the German company Dr. Oetker for 110 crore rupees ($14 million USD). Despite Viraj’s objections and his desire to keep the company, the deal went through. Although this sale was a significant emotional and professional setback, Viraj was determined not to let it define him. With the money from the sale, he invested in a new venture—a restaurant business named “Pocket Full,” which he launched in 2009.
Pocket full’s failure
Unfortunately, after four years of effort, Pocket Full faced financial challenges, and by 2013, all six outlets were closed. This failure left Viraj in a financially strained position, but he was not ready to give up. Supported by his wife, Viraj decided to start fresh. The couple even sold their house to fund his next venture. This time, Viraj returned to his roots in the food processing industry and founded Veeba Foods in Neemrana, Rajasthan, in 2013.
Viraj Bahl’s net worth
While Viraj Bahl’s exact net worth remains undisclosed, Veeba Foods has grown significantly, with projections for the fiscal year 2023-24 estimating its revenue to reach around Rs 1,000 crore ($130 million). Although Veeba is not yet listed publicly, Viraj’s major stake in the company, alongside the support of investors, continues to drive its expansion and success in the food industry.
Today, as the founder and managing director of Veeba Foods, Viraj Bahl continues to inspire aspiring entrepreneurs with his unwavering perseverance and his ability to navigate challenges in the business world. His expertise and experience make him a valuable addition to the Shark Tank India panel, where he will mentor and invest in promising new ventures.
