Pallavi Luharuka Leads Bhavishya Plast to Success with Biodegradable Innovation

Business Remedies | Jaipur | April 17,2025 |  When a young woman from Kolkata walked onto the set of Shark Tank India, little did anyone know that she would change the course of the show with her groundbreaking pitch. Pallavi Luharuka, a chemical engineer with over a decade of experience in the petroleum industry, arrived with a vision that blended innovation, sustainability, and science. Her startup, Bhavishya Plast, had discovered a way to convert agricultural waste, specifically broken rice, into biodegradable plastic. What followed was one of the most intense bidding wars in the show’s history, as each shark tried to secure a stake in her revolutionary venture.

Pallavi’s journey began years ago, during a collaborative research project with Jadavpur University. The aim was to convert leftover rice into ethanol, but during her experiments, she stumbled upon a unique method to transform the same waste material into a heat, and water-resistant plastic. This plastic wasn’t just eco-friendly, it decomposed entirely within 90 days, leaving no harmful residue. Unlike traditional bioplastics made from corn starch that cost between Rs. 100-150 per kilogram, her rice-based bioplastic could be produced at just Rs. 20 per kilogram, making it not only sustainable but also economically viable.

Driven by her desire to make an environmental impact, Pallavi formally launched Bhavishya Plast and began developing an array of sustainable products, including biodegradable plastics, eco-friendly paints, emulsions, and lubricants. These innovations quickly gained the attention of major industry players. Companies like Maruti Suzuki and Berger Paints became early collaborators, validating the quality and commercial potential of her offerings. Yet, Pallavi’s vision extended beyond these initial successes, she was determined to scale Bhavishya Plast into a Rs. 1,000 crore enterprise.

When she stepped into the Shark Tank, Pallavi asked for Rs. 50 lakh in exchange for a 1.5% equity stake, valuing her company at Rs. 30 crore. Her pitch was met with awe as she confidently explained her process, its applications across industries, and her long-term vision. She presented her product with clarity and conviction, making complex scientific ideas easily understandable. The sharks were captivated, not just by the innovation, but by Pallavi’s presence. Anupam Mittal, visibly impressed, declared that such breakthroughs happen once in fifty years and likened her invention to the telegraph and the computer chip. Namita Thapar acknowledged the promise of the innovation but emphasized the importance of scalability. Chirag Nakrani saw manufacturing potential, while Aman Gupta admired her confidence and clarity.

As the sharks began their offers, the pitch transformed into a fierce bidding war. Anupam offered Rs. 1 crore, double the initial ask, while Chirag highlighted his ownership of four factories as an edge in scaling up operations. Aman and Namita also joined in, each wanting a stake in what they saw as a future-defining innovation. The room buzzed with excitement, but Pallavi remained calm and composed. She revealed that investors were already pursuing her and that she had previously turned down a Rs. 10 crore buyout offer. Her ambition was clear, she wasn’t looking for a quick exit but was building a legacy.

Initially, Namita hesitated to collaborate with others, but Pallavi insisted on a joint partnership. She saw value in uniting the strengths of all four sharks, believing their combined expertise would best serve her mission. Eventually, all four, Anupam Mittal, Aman Gupta, Namita Thapar, and Chirag Nakrani, came together, sealing a deal of Rs. 2 crore for 10% equity, four times the original ask. It was a powerful moment, not just for the show but for everyone watching, as a young woman turned a simple scientific discovery into a movement towards sustainability.

Pallavi’s story is a testament to the strength of purpose-driven entrepreneurship. What began as a lab experiment has evolved into a company poised to redefine the future of eco-friendly materials in India and beyond. Her invention, born from a blend of scientific curiosity and environmental consciousness, now stands as a symbol of hope in the fight against plastic pollution. With strategic partnerships, a bold vision, and the resilience to turn down multimillion-rupee offers, Pallavi Luharuka has shown that with innovation, clarity, and courage, even the most complex global challenges can be met head-on, and transformed into opportunities for lasting change.

Written & Edited By:

Rajshree Upadhyaya