Shark Tank India Freebowler
| Company name | Freebowler |
| Founders | Pratheek Palanethra and Vishwanath HK |
| Ask | ₹75 lakhs for 7.5% equity |
Freebowler Founders
Pratheek Palanethra and Vishwanath HK are the founders of the company. Both of them are from Bangalore and have played cricket in under-13 and under-15 cricket teams. Vishwanath is a qualified cricket player and cricket coach. Pratheek is a relative of the Indian cricketer KL Rahul. Vishwanath looks after the finance, logistics, and customer service part of the company whereas Pratheek looks after the product development and other marketing work of the company.
About the company Freebowler
To provide a budget-friendly and real-life bowling experience to batters in cricket, Freebowler is here. Free bowler is a mechanical bowling machine that works on springs and batteries, the two models. The products can be purchased from their website and can be set up by themselves. They have sold more than 1000 machines in 15 countries to date. They have sold their products to cricket academies, individual cricketers, schools, and colleges. Their vision is to provide proper infrastructure and a better bowling experience to all levels of cricketers. They aim to sell 1 lakh units in the upcoming 5 years.
Ask by the Owners of Freebowler
The founders made an ask of ₹75 lakhs for 7.5% equity of the company at the valuation of 10 crores.
Freebowler Sales And Revenue
Pratheek holds 32.6% equity, Viswanath holds 21.74% equity, other investors have 32.6% equity and Indian cricketer Aswin holds 13.06% equity in the company. The cost of a manual machine is ₹20,000 and an electric machine is ₹40,000. From ₹1000 sold, they have sold 75% of the product to individual cricketers, 20% to clubs, and the rest to schools and colleges. They have sold the product mainly through Instagram campaigns. In FY 18-19 they had sales of 26 lakhs, in FY 19 to 20 sales were 17 lacs, in FY 20-21 sales were 50 lacs, in FY 21 to 22 sales were 53 lacs. Their last month’s sales are 1 lakh. Talking about unit economics, the cost of the product is ₹20000, manufacturing cost ₹8000, shipping cost ₹1500, return and repair is ₹500, and processing cost ₹200. Gross margin 45%.
Shark Tank India ABC Fitness Firm
Offers and counter offers
All the sharks stepped out except Namita. She gave an offer of 50 lakhs for 15% equity of the company at the valuation of 3.33 crores and 25 lakhs debt at 10% interest rate.
The founders gave a counter offer of 50 lakhs for 10% equity of the company at the valuation of ₹5 crores and ₹25 lakhs debt at 10% interest rate.
Founders revised their counter offer for 25 lakhs for 7.5% equity of the company at the valuation of 3.33 crores and 50 lakhs debt at 10% interest rate.
Freebowler Final deal
The final deal was closed with Namita for 25 lakhs for 7.5% equity of the company at the valuation of 3.33 crores and 50 lakhs debt at 10% interest rate.