What Does Upthrust Esports Do? Who Are They?
Learn about the Shark Tank India featured esports and gaming company.
Cover-Credits:
There has been a lot of hype in the Indian gaming and esports community about Upthrust Esports after news broke that it would be featuring in Shark Tank India, pitching its business to a panel of potential investors.
The company is represented by Kartik Sabherwal (Founder and Managing Director) and Vaibhav Rathore (Head of Business Development) on the show, where they deliver a pitch of INR 75,00,000 ($90,664 USD) for 3% equity.
To make sure that you enjoy the complete episode which airs on 7th February at 22:00 (IST) on Sony LIV, here is some information about the company and what it does, ensuring that you are not lost during their pitch.
Upthrust Esports: Who are they? What do they do?
Upthrust Esports is an Indian gaming and esports company based in Mumbai, Maharashtra. It was founded on 16th April 2020 with an aim to promote and develop esports within the country, by providing better practicing platforms for all the gamers.
The motto of the company reads "Empowering esports in India" as it proudly call itself the "Leading esports and gaming company in India".
The company organizes online gaming competitions and has successfully established multiple tournament IPs (Intellectual Property) like Pro Showdown, Ranbhoomi, Gamers On Ground, Survivor's Throne, Gaming Fest, and many others.
Apart from this, Upthrust Esports also indulges in production management, talent management, brand engagement, and product marketing.
Upthrust Esports: Journey till television round of Shark Tank India
It is a huge moment because this is the first time ever that a company from a gaming and esports background has appeared across both national television and streaming platforms.
Kartik believes that this exposure and any resources gained from it will not only help Upthrust Esports but will also make esports more recognizable in India.
In a statement obtained via press release, Kartik said "I am thrilled to have the opportunity to share my vision for Upthrust Esports with the world on 'Shark Tank India'. I believe that esports has the potential to make a real difference in gamer's lives and I am confident that the sharks will see the potential for success that we do."
Talking about their journey to the final stage where they will appear in front of the sharks, Kartik explained that the overall experience was amazing. Upthrust Esports had to clear three to four rounds during which they were "surrounded by many brilliant minds of India".
What we learn from Upthrust Esports pitch in Shark Tank India
Kartik started by giving a short personal anecdote of how he got into the business side of gaming and esports, followed by an explanation about Upthrust Esports and in what ways do they cater to this industry.
Here are a few key things we learned about Upthrust Esports after its pitch in Shark Tank India.
Q. What is the revenue model adopted by Upthrust Esports?
Upthrust Esports while talking about the revenue model adopted by them shared the following five ways in which they generate revenue,
Advertisements
Streaming Rights
Organizing Third-Party Tournaments
Marketplace for Brands and Influencers
Brand Integration
Q. How much revenue has Upthrust Esports generated?
According to the response given by Kartik and Vaibhav, Upthrust Esports has generated INR 59,00,000 from August 2021 to March 2022.
Talking about the last six months, Upthrust Esports has generated INR 3,00,00,000 ($362,468 USD) in revenue.
Specifically talking about last month (January 2023), Upthrust Esports revealed that they had made INR 33,00,000 ($39,872 USD) in revenue.
Q. What is the profit margin of Upthrust Esports?
Upthrusts Esports has earned a profit of 30% to 35% in the last six months. This means that out of the three crore revenue, the company is roughly earning a profit of about INR 90,00,000 to INR 1,05,00,000.
Q. Did any of the sharks invest in Upthrust Esports?
Unfortunately, none of the sharks invested in the company and Upthrust Esports had to go back empty-handed.
Following its appearance on Shark Tank India, the company is planning to onboard partners, investors, and sponsors to take esports to the next level.
