How is Tramboo Sports doing after Shark Tank India?

Founders: Hamaad Tramboo & Saad Tramboo
Business: Cricket Bats
Ask: ₹30 Lakh for 3% Equity
Valuation/ Networth: ₹10 Crores
Funding: ₹30 Lakh for 4% Equity
Sharks: Aman Gupta & Peyush Bansal
Episode: Season 3 Episode 7

Tramboo Sports Shark Tank India Pitch:

Tramboo Sports is an Indian startup that appeared on Shark Tank India Season 3 Episode 7, specializing in world-class quality Kashmir willow Cricket bats. The founders shared that Kashmir Willow wood is only found in Kashmir, and the Kashmir Willow Act prohibits the export of Kashmir willow raw material anywhere else. Tramboo Sports was founded in 2021 and was initially available through social media. They have recently launched their website and have sold over 20,000 bats since their inception. They have just started exporting their products as well. The founders’ vision is to make their product available worldwide, and to fulfill this, they sought an investment of ₹30 Lakh for 3% of their company, valuing the business at ₹10 Crores.

Tramboo Sports shared that they have a few steps to manufacture their bats. First, they select a willow wood log, which then gets graded after checking the grains. That log is then cut into clefts. Next, those clefts get seasoned, which traditionally took 12-18 months, but they have reduced that time to under 1 week through a steam-based seasoning plant. Additionally, this produces better results than traditional methods. What’s more is after seasoning, the bats are hardpressed to increase stroke and make them more durable. Further, a handle is attached to the bat. Finally, bats are processed and polished for sale.

Tramboo Sports Financials during Shark Tank India:

Tramboo Sports gets 60% of their revenue from everyday players who use their tennis ball bats. Tennis bats start at around ₹1800, and season bats sell for ₹3000, which is over 50% cheaper than English willow bats of worse quality. Moreover, Their monthly sales are around 1000 units. Further, 70% of their total sales come from Instagram. They have made ₹18 lakhs in revenue in the month of September 2023. They are making net profits of ₹5-6 Lakhs per month.

Tramboo Sports has seen month-to-month growth since their very first month. They are projecting to close FY23-25 with revenue between ₹6-7 crores. As they are expanding globally now, they have recently sold an order of 1000 bats in Qatar.

Tramboo Sports Shark Tank India Negotiations & Funding:

Vineeta gives the first offer of ₹30 Lakhs for 10% of the business, valuing the company at ₹3 Crores. Anupam asked if he can join Vineeta for the same offer, to which she agreed. Aman thought that the offer was too aggressive and he offered ₹30 lakh for 6%. Ritesh also puts his offer out, where he offered ₹30 Lakhs for 4% of the company, valuing the business at ₹7.5 Crores. Anupam goes out because he couldn’t make sense of the ₹7.5 Crore valuation.

Peyush also jumps in on these negotiations and offered exactly what the entrepreneurs asked for, which was ₹30 lakh for 3% of the company. They become one of the rare entrepreneurs who received an offer from all the sharks on the panel. Ritesh matched Peyush’s offer.

Entrepreneurs take a moment to think and come back to ask if Peyush and Aman can come together on this deal. Aman agreed to that, but he asked for ₹30 lakhs for 4% of the company, to which the founders agreed, and they shake hands on ₹7.5 Crore valuation.

Who are the founders of Tramboo Sports?

Hamaad Tramboo & Saad Tramboo founded Tramboo Sports. Hamaad is 18, and Saad is a 20-year-old, and they are from Sri Nagar. Saad is currently enrolled in BBA in a college in Bangalore. Their family also owns one of the prominent joinery mills in the area.