Upthrust Esports Shark Tank India Pitch:
Upthrust Esports is an Indian startup that appeared on Shark Tank India, Season 2, Episode 27. The founders shared that India had 42 Crores active Gamers in 2022. The company organize gaming events and handle the production as well. They have so far reached over 10 Crore people. So far, They have organized over 30 gaming events with pool prizes reaching upto ₹1 Crore.
Upthrust Esports only hold virtual events and gamers earn prize money and trophies. The company broadcasts their events on YouTube where they have over 3.5 Lakh subscribers. In addition to that, they also broadcast on Loco which is an Indian gaming platform. The founders sought an investment of ₹75 Lakhs for 3% of the company valuing the business at ₹25 Crores.
Upthrust Esports earns its revenue through 5 models, advertisement, streaming rights, organizing events, marketplace and brand integration. In their last financial year, The company made revenue of ₹59 lakhs from August to March. For FY23, They have made a revenue of ₹3 Crores in first 6 months with last month bringing in ₹33 Lakhs.
Upthrust Esports Shark Tank India Negotiations & Funding:
Anupam was the first shark to go out of Upthrust Esports negotiations because even though he thought it was possible to build a business in this market, he added that it would not be investable. Namita went out due to not having expertise in this area. Vineeta went out for a reason similar to Namita. Aman felt like the business was too small and the market would be too competitive. Amit went out for to same reason.
Who are the founders of Upthrust Esports?
Kartik Sabherwal & Vaibhav Kumar founded Upthrust Esports.
How is Upthrust Esports doing after Shark Tank India?
Our research in Upthrust Esports revealed that despite not getting a deal on Shark Tank India, The company is thriving as of September 2024. They currently boast a following of over 100k on Instagram and have around half a million subscribers on YouTube. Not only that, Their current events are sponsored by giants like AMD and Samsung.
Here are other companies from Season 2 Episode 27.
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