- Founder/Owner: Sunil Raina, Grandmaster Tejas Bakre & Kitty Mahapatra
- Business: Chess Classes
- Ask: ₹70 Lakhs for 2% Equity
- Valuation/ Networth: ₹35 Crores
- Funding: ₹50 Lakhs for 2.5% equity + ₹20 lakhs debt @12% interest for 2 years
- Sharks: Aman Gupta & Namita Thapar
- Episode: Season 3 Episode 42
Kaabil Kids Shark Tank India Pitch:
Kaabil Kids is a global online chess training academy catering to children aged 5-15 years. They appeared on Shark Tank India Season 3 Episode 42. Their curriculum was created with the help of Grandmaster Tejas Bakre and contains 5 courses. The founders also added that their trainers are FIDE certified. So far, They have trained over 5,000 students. The company sought an investment of ₹70 Lakhs for 2% equity valuing the business at ₹35 Crores.
Kaabil Kids offers 5 levels of courses starting from building a foundation at the beginner’s level to high-intensity packages which can guide students to compete at the national level. Pricing starts at around ₹375 per class for group classes and ₹900 per class for individual sessions.
Kaabil Kids also hosts monthly tournaments on their platform to give exposure to kids in competitive environments and Monitor their progress. Their platform also analyzes and captures every game providing detail reporting. They currently have around 1,280 students enrolled on their platform.
Kaabil Kid’s Revenue & Financials during Shark Tank India:
Kaabil Kids make an average revenue of ₹2,500 per month for each student on their platform. However their average revenue per user’s lifetime is around ₹16,000. 21 students of Kaabil Kids are FIDE certified. The company shared that they have trainer retention rate of 90%. Also, Average salary of a trainer on the platfrom is around ₹50-60,000.
The company has already closed 2 funding rounds. Their last round was raised in September 2022 where they raised ₹1.7 Crores at ₹20 Crores valuation. Their last month’s sales were at ₹29 Lakhs. They have made a total revenue of ₹1.45 Crores in first five months of FY23-24 and burned around ₹4 Lakhs in this fiscal year.
Out of ₹29 Lakhs for revenue they made in August 2023, ₹16 Lakhs went to complete manpower costs including founder salaries, ₹5 Lakhs were spent in marketing, ₹1 Lakh was spent on technology and ₹5 Lakhs went to GST leaving them with ₹2 Lakhs in EBITDA.
Kaabil Kids Shark Tank India Negotiations & Funding:
Amit was the first shark to go out citing it seems to be a push product with a lack of demand. Vineeta felt like there would be challenges in scale therefore she went out. Anupam felt like there was a threat that AI would take over this area therefore he went out as well.
Namita and Aman came together for the offer of ₹50 Lakhs for 5% of the company and the rest as debt at 12% for a 2-year term. The founders countered that with ₹50 Lakhs for 2.5% equity and the rest as debt with the same terms. The sharks accepted that offer and they shook hands on ₹20 Crore valuation.
Who are the founders of Kaabil Kids?
Sunil Raina, Grandmaster Tejas Bakre & Kitty Mahapatra founded Kaabil Kids. Tejas shared that he was the 13th Grandmaster in India. Sunil has also won several titles in Chess in District and State level competitions.
How is Kaabil Kids doing after Shark Tank India?
Our research in the Kaabil Kids revealed that while they did get a deal on Shark Tank India, Weather their deal closed after the show is still not clear. Early signs however suggest that it has fallen through. We will update this article with more information once it becomes available in the meantime, you can check out their website and click the Amazon button below to shop other Shark Tank products!
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Here are other companies from Season 3 Episode 42: