IoT Sports Tech Solution Looking to Raise Funds or Exit
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About Business
IoT-based Smart Shuttle Feeder Machine is a patented technology developed as India's first shuttle feeder machine, operable via mobile control. Eight units have been launched, with customers actively utilizing them.
Clientele type
Badminton Academies, Sports Institutions etc
Premises
LEASED
Lease per month (in INR): 72.50 K
Security Deposit (in INR): 7.50 L
Carpet Area: 2,200 sq ft
Asking Price Includes
The terms of transaction will be discussed with potential investors and/or buyers.
Reason
Lack of working capital. The Product has been in RnD stage for last 3 years and in production since Sep 2023.
More Details
The company boasts a robust R&D team responsible for pioneering India's inaugural Smart IoT-based shuttle feeder machine tailored for training purposes. This product stands as a patented innovation with the potential for scalability into feeder machines for various sports such as Tennis, Table Tennis, Football, Basketball, and Squash.
Positioned as a Make in India product, coupled with localized support for servicing and maintenance, the company maintains a competitive advantage over its counterparts. Despite being in the early stages of startup development, the company has secured active customers and maintains a pipeline with orders valued at approximately 85 lakh INR.
The envisioned business model entails both sales and subscription avenues, offering flexibility and expanding the product's market reach.
However, while the company exhibits high potential, it requires a considerable gestation period for full realization. Challenges persist in securing the right investment opportunities, which have led to cash burn during the interim.
In the fundraising endeavors, the company's valuation stands at 20 crore INR, reflecting its three years of dedicated R&D efforts.
The company seeks a buyer interested in acquiring/investing in a sports tech product and has already initiated sales and subscription models for trial purposes. In August 2023, the company successfully raised $100,000 USD to further its objectives.
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₹10 to ₹200 Cr
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