Three entrepreneurs from Bangalore introduced their innovative cricket gaming company, Metashot, on the latest episode of Shark Tank India, leaving Kunal Bahl in a rare state of indecision. Kunal admitted he was more uncertain than ever about making a move despite being firm in offers.
Meanwhile, Peyush Bansal seemed visibly upset when the founders dismissed him after he proposed a different direction for their business. The founders Ajith, Prince, and Ranjith requested an investment of Rs 80 lakh for a 1.5 per cent stake, valuing the company at Rs 53 crore.
The founders shared that they had already raised $500,000 (approximately Rs 4.2 crore) in funding, which impressed the panel. Anupam Mittal confessed that he initially had low expectations, but after hearing about the founders’ progress and sales figures, he was pleasantly surprised.
In their first year, the company generated nearly Rs 10 crore in revenue, with projections to grow fivefold in the next year, driven by the expansive gaming market.
They explained that their product allows users to play cricket matches with anyone around the world, using a Bluetooth-operated bat. The business also has strong potential for generating revenue through subscriptions and community-building opportunities.
While Aman Gupta expressed interest, he ultimately didn’t make an offer, unable to agree with their valuation. Kunal also withdrew after much deliberation, and Peyush stepped away after the founders rejected his advice. This left only Vineeta Singh and Anupam Mittal still willing to negotiate.
The two sharks teamed up and made a counteroffer, doubling the founders’ original ask to Rs 1.6 crore for 5 per cent equity, thus valuing the company at Rs 32 crore.
Vineeta suggested they market their product not only as a gaming console but also as a fitness device. After some discussion, the founders agreed to the terms, and both Anupam and Vineeta celebrated their successful deal.