Smaaash Entertainment, a gaming and entertainment company backed by famous Indian cricketer Sachin Tendulkar, has raised a fresh capital worth INR 40 Cr from several high net-worth individuals (HNIs) such as Manyavar founder Ravi Modi, former vice chairman of Cognizant, Lakshmi Narayana and Vijaylaxmi Poddar of Balkrishna Industries.
The firm Smaaash Entertainment Private Ltd prepared 10,605,350 preference shares worth INR 10 per share and premium shares worth INR 27.92 per share on March 23, 2018.
Smaaash is an immersive and entertainment platform that provides entertainment centers in Mumbai, Gurgaon, Hyderabad, Bengaluru, Noida, and Ludhiana. The Sachin Tendulkar-backed firm offer sports simulation technology based on popular sports such as cricket, football, racing and recreational activities. While their services is usually enjoyed by children, they also provide dining for parents while they are supervising their children playing. Their services extend to 360-degree cricket simulators, twilight bowling zones, motor racing simulators and go-karting tracks. They also organize games such as walk the plank, finger coaster and cockpit 360. They boast on their website to have twelve the amount of gaming arcades in the country.
The company was founded by serial entrepreneur Shripal Morakhia in 2009 and established its headquarters in Mumbai, India. Since the inception of its operations, the company has raised over INR 762 crore in equity and debt financing. It is the workplace of about 500-1000 individuals.
The company is currently enjoying a very good phase especially since they have been able to raise several investments from multiple ventures over the year 2017.
Most recently, on December 21, 2017, they raised over INR 900 Mn in an investment round led by Avendus Capital. In August 2017, the company also made the acquisition of PVR Ltd’s bowling joint-venture BluO entertainment in a deal reported at INR 86 Cr in cash and also made the acquisition of 100% stakes in SVM Bowling two weeks later.