Shark Tank Upthrust
In this episode of Shark Tank India Upthrust Esports, a gaming production team presents the pitch. Will the founder get a deal from the sharks? To know about the deal read till end.
|Company name||Upthrust Esports|
|Founders||Kartik Sabherwal and Vaibhav Kumar|
|Ask||₹ 75 lakhs for 3% equity|
Kartik Sabherwal, 21 is from Jhansi. Vaibhab Kumar, 20 is from Uttar Pradesh.
About the company Upthrust
It is not easy for Indian parents to allow their children to become professional gamers. But one of the pitchers with his stubborn attitude wanted to become a professional gamer and from there Upthrust was started. In India, there are 42 crore active gamers. Upthrust Esports is an online gaming platform where that arranges several gaming events for competition. There is prize money and trophies for the winners and the best performers. They have more than 3.5 lakh of YouTube subscribers. They do white branding for several companies. They have organized 30+ gaming events till date and the pool prize of the events was around 1 crore rupees. They have worked with 20+ brands. Their community comprises 8 lakh gamers. The Indian gaming industry is around 18000 crore rupees. Their vision is to provide a platform for gamers to pursue their dream career. Hardcore gamers number is 1 million and Mid Core gamers number is 2 million.
Ask by the Owner Upthrust
Pitchers asked 75 lakhs for 3% equity at a valuation of 25 crore rupees.
Upthrust Sales And Revenue
They have five types of revenue models :
For the financial year 22-23 till date, they have generated a revenue of 3 cr. rupees. Last month the sales were 33 lakhs rupees.
Shark Tank Flhexible
Offers and counter offers
No sharks were interested as the company is more to the production industry rather than the distribution industry. So there can be scalability issues. According to Anupam, Amit this is not an investable business.
Upthrust Final deal
No deal was finalized with any sharks.