- Founders: Puru Singh and Nitin Pahuja
- Business: Sports
- Ask: ₹80 lakhs for 1% equity
- Valuation/ Networth: ₹80 Crores
- Funding: 80 lakhs for 4% Equity + 2% Royalty until 1.6 crores is recouped.
- Sharks: Peyush Bansal and Vineeta Singh
- Episode: Season 3 Episode 20
PUSH SPORTS Shark Tank India Pitch:
Push Sports is a full-stack sports solutions company that offers tie-ups with schools, designs sports curriculum, runs sports programs, and develops sports infrastructure. They provides children with professional-level training, guidance, and opportunities. Currently, they have 80 coaches and focus on over 10 sports, operating in 17 locations. They build school sports infrastructure and operate both school and after-school programs, monetizing the infrastructure in schools through pay-to-play and corporate events.
PUSH SPORTS Financials & Revenue during Shark Tank India:
Push Sports operates with three business models. Firstly, they undertake and deliver EPC projects and are paid by schools. If schools cannot contribute capital, Push Sports offers Capex in sports investments in exchange for a 10-year lease of the constructed facility. The average cost for a 10,000 sq. ft EPC project is ₹30 lakhs.
Secondly, they offer in-school programs and operate after-school multi-sports academies. Thirdly, after 7 pm and on weekends, they open facilities for per-hour booking.
In FY22-23, they generated ₹3 crores in sales with an EBITDA of -8%. In FY23-24 (till Nov), they have achieved ₹5 crores in sales and are projecting ₹9 crores in sales with a 0% EBITDA. As per the sales split, 25% comes from sports infrastructure, 52% from sports education and pay-to-play, and tours & events contribute 23%.
Strategic investors hold a 13% equity stake for a ₹2 crores investment with an 8 crores pre-money valuation in Nov ’22. Angel investors hold an 11% equity stake for ₹30 lakhs invested in Mar ’21. Currently, they have ₹25 lakhs in the bank and burn ₹1-₹2 lakhs per month.
Who are founder of PUSH SPORTS?
PUSH SPORTS is founded in 2018 by Puru Singh and Nitin Pahuja. Puru Singh is studied from Sardar Patel Vidyalaya, Delhi. He played 7 years at state level. Nitin Pahuja is studied from Delhi school of economics, Delhi. Puru has 39% equity stake and Nitin has 36% Equity stake
PUSH SPORTS Shark Tank India Negotiations & Funding:
Azhar chose to opt out as he did not have the correct numbers and could not get a clear picture of the business. Aman also chose to opt out; he initially showed interest but has now lost all interest, so he has sidelined himself from negotiations. Anupam believes the company is unfocused and is starting too many things, so he wants to quit negotiations as well.
Vineeta wants to take a bet on the founder and offers ₹80 lakhs for 4% equity plus 2% royalty until ₹1.2 crores is recouped. Peyush also makes an offer of ₹80 lakhs for 4% equity plus 2% royalty until ₹1.6 crores is recouped.
The founder requests both sharks to come together, and a deal is finalized for ₹80 lakhs for 4% equity plus 2% royalty until ₹1.6 crores is recouped.
How is PUSH SPORTS doing after Shark Tank India?
Our research on PUSH revealed that while they secure the deal on Shark Tank India, whether that deal was closed still remains unclear. This could be because they are still completing the due diligence, but showing early signs are positive.
While the financials of this company are not yet public, we will update this article as soon as more information comes to light. Check out Shark Tank India products through Amazon by clicking the link below!
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Source: Instagram @pushsports
Here are other companies from Season 3 Episode 20