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Basketball Coaching Firm 'ABC' Lands Rs 40 lakh Shark Tank Funding
Basketball Coaching Services Provider - ABC Fitness Firm, Pune - has secured Rs 40 lakh funding in the ongoing Season 2 of Shark Tank India.
Lenskart CEO Peyush Bansal agreed to invest Rs 40 lakh at 10% equity in the firm that offers structured basketball coaching services to children, conveniently within their own residential complexes.
About Basketball Coaching Firm 'ABC'
The six-year-old ABC Fitness Firm was founded by national-level basketball player Anirudh Pole with his cousin Roshan Pole, and boasts of a network of 207 centres in Pune alone, servicing 3000+ students through an 85+ strong coaches' network.
Their goal is to now expand their business model to other cities, hence the desire to raise funding through Shark Tank India.
What the Judges ('Sharks') Said
While Peyush Bansal was the only Shark to make an offer, fellow judge Namita Thapar highlighted that her own kids undergo basketball coaching at ABC. Thapar and her husband even own a team in the professional basketball league for minors run by ABC.
Interestingly, Bansal noted that he used to be a basketball player himself, which is perhaps what prompted him to financially back the firm.
Among the remaining sharks, Aman Gupta (boAt Co-Founder) declined to invest citing ABC's lack of presence in any city outside Pune. Anupam Mittal (Shaadi.com Founder) backed out after observing that such a coaching initiative can only succeed with the support of the National Basketball Federation, which he felt was missing at the moment.
Watch the full episode on Sony LIV here.
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