Upthrust Esports is an online gaming platform that produces and organizes online gaming events catering to 42 crore+ active gamers nationwide.
21-year-old Kartik Sabherwal and 20-year-old Vaibhav Kumar are the founders of this company who came up with this amazing idea of creating an online gaming platform and taking the gaming experience to the next level.
The goal of Upthrust Esports is to empower E-sports in India.
More About Upthrust Esports
The company broadcasts gaming events on Youtube, with over 3.5 lakh subscribers. According to him, in the past two years, they have reached more than 10 crore users and organized more than 30 gaming events, of which their pool prize was almost INR 1 crore. His vision was to make the company India’s largest online recycling platform.
The unique features of Upthrust Esports include the following-
- They cater to more than 42 crore+ active gamers in the country
- They organize gaming events and have lucrative prizes and trophies for the winners
- They have had a prize pool of as large as INR 1 crore to date.
Upthrust Esports Shark Tank Pitch and Updates
Kartik and Vaibhav appeared on Shark Tank India Season 2 Episode 25 and demanded INR 75 lakhs for a 3% equity at a valuation of 25 crores.
After the initial pitch, Namita was interested and asked about their revenue models. Which they explained that they have 5 revenue models and went on to explain each of them in detail. The five revenue models included advertisements, streaming rights, organizing events, marketplace, and brand integration.
After hearing the entire methodology, Anupam gave his decision. He concluded that Upthrust Esports is still an e-gaming organizer, and it would be difficult to do business out of it after a particular stage.
At this point, they revealed their numbers and said that they made INR 3 crores in FY 22-23 a year to date in sales. And INR 33 lacs in the past month alone. However, Anupam was still unconvinced about their growth plan and decided to move out of the deal.
Unfortunately, Namita was also out of the deal since she believed she had no expertise in the industry they belonged to. Followed by her Vineeta also signed out, stating that she still couldn’t figure out the competitive moat from their end, and hence she was out.
Amit also left the table since he believed Upthrust esports was more of a production company than a platform. And hence due to that reason, he did not see the business grow exponentially. After Amit’s decision, Aman was the last shark left.
Unfortunately, he was also out, and sadly Kartik Sabherwal and Vaibhav Kumar could not secure a deal on Shark Tank Season 2.
|Company Name||Upthrust Esports|
|Founders||Kartik Sabherwal and Vaibhav Kumar|
|Business||Esports Production and Organising Platform|
|Shark Tank Episode||Season 2 – Episode 25|
|Asked For||INR 75 lakhs for 3% equity|
Upthrust Esports could not secure any deal from any of the sharks this season.
Frequently Asked Questions About Upthrust Esports
After their appearance on Shark Tank India Season 2, people were trying to find more information about Upthrust Esports. Here are some of the frequently asked questions about them.
1. Who Is The Founder of Upthrust Esports?
Kartik Sabherwal and Vaibhav Kumar are the founders of Upthrust Esports.
2. Is Upthrust Esports profitable?
Upthrust Esports is a newly launched company, but they are already making approximately 33% of profits.
3. Why did other Sharks not invest in Upthrust Esports?
Anupam was not convinced that they would be able to grow significantly after a certain stage. However, Vineeta felt the lack of moat, while Namita stated she did not have enough expertise in the industry. Amit and Aman gave similar reasons for opting out of the deal.
4. What happened to Upthrust Esports after Shark Tank?
Unfortunately, the owners of Upthrust Esports could not convince the sharks to get them a deal. And hence sadly, they had to leave the platform bare-handed. However, we’re following them for more updates and shall notify you as soon as we hear anything.