“Learning with Fun” is possible, Abbas, the founder of Blix proves in Shark Tank India
Toys are a crucial part of most children's upbringing. Children feel connected and enjoy playing with toys. But what if it also becomes a learning tool, which would teach them heavy science concepts? Yes, this is possible now. Abbas Gabajiwala, the Founder and CEO of Blix Education Pvt. Ltd. has made it true with its amazing learning toy products.
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Recently, Abbas appeared in Shark Tank India with his products and surprised sharks with its concept.
Education and Early Days
Abbas was always a child who loved to play with mechanics toys. This habit of his, made him pursue B.Tech in Mechanical Engineering from Vishwakarma Institute Of Technology. He did an MBA from Singapore in 2011. He used to skip classes, to attend robotics competitions. His childhood experiences inspired his journey with MECHANIX, which is a famous toy brand introduced by his father. He belongs to a family that has a history of making toys for three generations. They live in Mumbai.
Abbas has taken a step forward by introducing toys that can educate children about major concepts. The Blix toys are designed to help children develop various skills.
Abbas Gabajiwala in Shark Tank India
Recently, Abbas appeared in Shark Tank India with his products and surprised sharks with its concept. He asked for 80 lakhs in exchange for 2% equity. Abbas received multiple offers from different sharks. Aman offered 40 lakhs for 4% equity and 40 lakhs as a loan with 11% interest, but Abbas declined the debt offer due to lack of profitability. Vineeta Singh and Anupam Mittal offered him 80 lakhs for 5% equity, while Aman and Ritesh proposed 1 Crore for 6.25% equity. Piyush offered 80 lakhs for 4% equity. After conversion with his COO who is his wife, he asked for a counter offer of 90 lakhs for 3% equity. Thereafter Vineeta and Anupam excluded themselves. But Aman and Ritesh gave him an offer of 80 lakhs for 4% equity at a valuation of 20 crores. He accepted the offer and fixed the deal with Aman and Ritesh.
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About the company and product
The company offers four major types of toys on their website: Robotics Sets, Stem Toys, Spare Parts, and Queaky. Each toy aims to engage and educate children in a fun and educative manner. Their products are available across 2000+ stores, also available on Flipkart, Amazon, FirstCry, and their own website. According to them, more than 5,000 Indian schools use their educational kits.
Blix was earlier a brand under Zephyr, one of the biggest toy manufacturers in India. Zephyris is owned by his elder brother Maoiz Gabajiwala. Maoiz has a 70 % share, Abbas has 20%, and their parents have 10%. In 2019, Abbas's brother Maoiz suggested him to make Blix an individual entity. According to Abbas, Blix has an average monthly sale of 30-50 lakhs and for FY23-24 the projected yearly revenue is around 8 Crores. He said after the investment, the numbers would increase significantly.
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