Freebowler is a company that provides mechanical bowling machines that runs only on a battery and spring.
The company aims to provide a batter with a real-life and budget-friendly bowling and training mechanism. Pratheek Palanethra and Vishwanath HK, hailing from Bangalore, are the company’s founders.
More About Freebowler
The business has been operating since 2019, making great sales and garnering good profits when appearing on shark tank.
The company aims to provide better training experience to cricketers at all levels. They had already sold 1000+ machines in 15 countries across the globe. The machines are pretty simple to use and hence quite user-friendly.
The unique features of Freebowler are –
- Available on their website.
- Easy to install
- Real-life experience for cricket training purposes
Freebowler Shark Tank Pitch and Updates
The founder of Freebowler appeared on Shark Tank India and informed the sharks that they already have sold more than 1000+ products to various cricket organizations. The founder demanded INR 75 lakhs for 7.5% equity at a valuation of INR 10 crores.
After the initial pitch, all the sharks were interested to see the demo, and hence the founders invited two players to showcase their two variants- the manual and the electric one.
However, after they learned how they wished to transform the products to scale them even further, Namita was interested in the customer split of the company.
Vishwanath explained that almost 75% of the products are sold to customers. The clubs buy about 20-25% of the products; the remaining 5% is sold to schools and colleges.
They went on to explain their sales further. According to the founders, they made sales of around INR 26 lakhs in FY 18-19, followed by which they garnered INR 70 lakhs in FY 19-20. Then, in FY 20-21, they made INR 53 lakhs, and INR 55 lakhs in FY 21-22. Anupam wanted to know about last month’s sale, and they said it was only INR 1 lakh.
All the sharks were curious to learn the reason for the drop, to which they explained that they were finding it challenging to manage the cash flow and the inventory. Then, Aman asked about their unit economics, to which they said they make around 45% gross margin, but the company is running at a loss.
Namita wanted to know about their competitor and why they stood a better chance in the market. Pratheek explained that they sell almost five times cheaper than their competitor, so they have the upper hand.
Anupam was the first Shark to leave the deal since he was not confident about their business acumen. Aman was also unconvinced after seeing their product and did not close the deal.
Vineeta believed that their product is at a “pilot product” stage and they’ll be competing with bigger companies shortly, but the journey will be challenging. And hence she was also out. Unfortunately, Peyush was also out since he believed the business was at a very preliminary level and a lot of work was yet to be done.
Namita was the only one to offer them INR 50 lakhs for 15% of the company and INR 25 lakhs debt for 10%. The valuation she gave was INR 3.3 crores for the company.
However, immediately after the offer, Vishwanat gave a counteroffer for INR 50 lakhs for 10% equity and INR 25 lakhs debt valuing it at INR 5 crores. However, Namita was not ready to budge and stuck to her old offer. So they again gave a counteroffer of INR 25 lakhs for 7.5% equity and INR 50 lakhs debt matching the same valuation as Namita’s.
|Pratheek Palanethra and Vishwanath HK
|Shark Tank Episode
|Season 2 – Episode 10
|INR 75 lakhs for 7.5% equity
|INR 25 lakhs for 7.5% equity and INR 50 lakhs debt
|INR 3.3 crores
Freebowler got a deal of INR 25 lakhs for 7.5% equity at a valuation of INR 3.3 crore and INR 50 lakhs as debt at an interest rate of 10% from Namita Thapar.
Freebowler Bowling Machine
The brand freebowler sells two types of bowling machines on their official website. Here are more details about both of them:
It is a non-electric and portable ball thrower that speeds up to 140kmph and works with real cricket balls. The price of this portable bowling machine is Rupees 19,996 and can be divided into multiple small EMIs.
Freebowler Superthrower Automated
This is another model from the brand freebowler that is battery operated that can reach a speed of up to 140 mph. As it has a number of additional features, the price of this automated bowling machine is Rupees 39,996 Rupees.
Frequently Asked Questions About the Freebowler
After their appearance on Shark Tank India Season 2, people tried to find more information about Freebowler. So here are some of the frequently asked questions about them.
1. Who Is The Founder of Freebowler?
Pratheek Palanethra and Vishwanath HK, hailing from Ludhiana, are the company’s founders.
2. Is Freebowler profitable?
No, unfortunately, Freebowler is not yet a profitable company.
3. Why did not the Shark invest in Freebowler?
All four sharks except for Namita believed it was at a very early stage and a lot of work needed to be done. As a result, they did not find it a scalable product and hence unsuitable for investment.
4. What happened to Freebowler after the Shark tank?
Freebowler was not able to secure the deal. However, we are following up with them and shall share any updates as soon as we receive them.