What Happened to Tweek Labs After Shark Tank India?
What is Tweek Labs?
In any cricket academy, the bowlers & batsmen have to rely on their coach to get feedback on their performance. But all the time coach can’t provide accurate feedback. They don’t have accurate data on their hand.
So, all the feedback coaches provide, they give that from their experience and seeing the player in action. But what if there’s a way to measure individual players’ actions with data?
That’s where Tweek Labs comes in place. Tweek Labs has created smart clothing that captures the player’s movements in 3D. Later the data can be retrieved in a phone application.
Who is the Founder of Tweek Labs?
Anant Sharma, Ayush Kushwaha, Shwetank Shrey & Aman Parnami are the founders of Tweek Labs.
How much money did they ask for Tweek Labs?
They came to Shark Tank India seeking ₹40 Lakhs for 2% equity in the business. Which gives the company a valuation of ₹20 Crores.
Equity Stake of Tweek Labs
| Anant Sharma | 33.2% |
| Shwetank Shrey | 33.2% |
| Ayush Kushwaha | 19.4% |
| Aman Parnami | 13.4% |
How to use Tweek Labs?
There are 12 sensors. Any player who wants to improve his performance needs to wear the suit and attach these 12 sensors to his body. Then he needs to pose in the T position so that the sensor calibration can be completed.
After calibration, when the player does his game movement, the sensors will capture all his movements in 3D and provide a detailed report. The report can be seen in the mobile application.
Important metrics such as stride length, stride speed, forward bend, ground contact time, jump time, front foot knee angle, back thigh – front thigh angle, front thigh angle, and center of mass position will be shown in the application.
Using these data a player can improve his KPI. KPI stands for Key Performance Factor.
This data is utilized in all big academies. But the cost of that is very high. Academy based in local/rural territory can’t afford to have that. For them, Tweek Labs can be an alternate solution.
They are offering this as a subscription model. The current price is one suit with sensors for ₹5000 per month. This is a recurring model. This means you have to pay ₹5000 every single month.
The making cost is ₹35,000 per unit.
Currently, they are focusing on the B2B business model. They want to sell in different cricket academies. But in the future when the making cost is much lower, then they can sell in the B2C model.
How Big Is the Market?
There are approximately 10 Lakh active cricket players. Among them maybe 10% go to cricket academy. Which is 1 Lakhs cricketers. Among them, Tweek Labs wants to target 20%.
This means they are projecting that 20,000 players will pay them monthly ₹1000. Which means the yearly revenue will be ₹24 Crores.
Which shark gave Tweek Labs an offer?
Namita Thapar was out because it was too early to invest.
Aman Gupta was out because he thought the revenue of this product would be low.
Ashneer Grover gave an offer. He offered ₹40 Lakhs for 8%.
Peyush Bansal gave an offer. He offered ₹40 Lakhs for 8%.
Ashneer Grover & Peyush Bansal got together and combined their offer.
Anupam Mittal gave an offer. He offered ₹40 Lakhs for 7%.
| Offer 1 | Offer 2 | Offer 3 | Offer 4 |
| Ashneer Grover – ₹40 Lakhs for 8% | Peyush Bansal – ₹40 Lakhs for 8% | Anupam Mittal – ₹40 Lakhs for 7% | Ashneer Grover, Peyush Bansal, Anupam Mittal – ₹60 Lakhs for 12% |
Then they all got together. Three sharks ₹60 Lakhs for 12%.
They gave a counteroffer of ₹60 Lakhs for 6%.
| Company Name | Tweek Labs |
| Founder | Anant Sharma, Ayush Kushwaha, Shwetank Shrey & Aman Parnami |
| Asked Amount | ₹40 Lakhs for 2% |
| Final Deal | ₹60 Lakhs for 10% |
| Sharks | Ashneer Grover, Peyush Bansal, Anupam Mittal |
| Company Net Worth | ₹6 Crores |
| Company Website | www.tweek-labs.com |
| Company Status | In Business |
What deal did Tweek Labs get in Shark Tank India?
There were some arguments back and forth and the deal was closed at ₹60 Lakhs for 10%. Which gives the company a valuation of ₹6 Crores.
