Founders of Freebowler Have Raised 75 Lakhs Through Shark Tank India

Free Bowler is a machine that operates on batteries and springs, designed to assist with cricket and sports training in small towns and villages across India. The founders recognized the potential to monetize sports in these areas and set out to create a business that could cater to this need. Based in Bangalore, Free Bowler is committed to developing innovative sports equipment for enthusiasts in various fields. The company aims to make its equipment accessible to the masses and is actively involved in player management and collaborating with sports-based ventures to provide training equipment. Through effective social media management, Free Bowler strives to spread awareness about the benefits of its products among sports enthusiasts.

Click here to visite official website: Free Bowler

Related: STAGE OTT: ₹ 1.5 Crores for 0.6% Equity Win on Shark Tank India

After investing two years in research, the founders  successfully established Free Bowler as a business venture. Free Bowler was officially founded in 2016 and began its sales operations in 2018. The Free Bowler product weighs less than 20 kg, making it easily portable as it can be folded and carried anywhere. This innovative machine has been sold in approximately 15 countries, with over 1000 units purchased worldwide.

Freebowler was founded by Pratheek Palanethra and Vishwanath HK in Bangalore. During the show, they demonstrated two versions of their machine: one that is operated manually and the other that is electric. The prices for these are ₹20,000 and ₹40,000 respectively. The founders also mentioned that they have patents for their products. The founders explained that most of their products, around 75%, are sold directly to customers. Cricket clubs buy around 20-25% of their products, and the remaining 5% are sold to schools and colleges. They also shared their sales figures, such as earning INR 26 lakhs in financial year 2018-2019, INR 70 lakhs in 2019-2020, INR 53 lakhs in 2020-2021, and INR 55 lakhs in 2021-2022. Although they have a 45% gross margin, they haven’t made a profit yet.

Anupam, Aman, Vineeta, and Peyush decided not to invest in a business for various reasons. Anupam was worried about how well the founders could run the business. Aman didn’t believe in the product. Vineeta thought the product was still new and competing with bigger companies would be hard. Peyush thought the business was too early in its development for him to invest.

On the other hand, Namita was willing to take a risk and invest money. She initially offered ₹50 lakhs for 15% ownership of the business and ₹25 lakhs as a loan with 10% interest. The company made a counteroffer of ₹50 lakhs for 10% ownership and the same loan terms. Namita felt this was too risky at first but eventually accepted. The company then proposed ₹25 lakhs for 7.5% ownership and ₹50 lakhs as a loan with 10% interest, which Namita agreed to.

Our investigation into the company found that even though they talked about a deal with Namita on TV, it never actually happened. However, appearing on the show did help the business, as the owners said on the internet that they got a lot of new customers after the show aired. Their website is still working, but they haven’t posted on social media since they were on Shark Tank. This makes us think that the owners might have decided to try something else, especially as the Sharks warned them that it might be too late to succeed in this business now.

Shark Tank India showcases a dynamic platform where aspiring business owners pitch their concepts to influential investors, hoping to gain the support and resources needed to scale their enterprises.