Educational
Toys
Season 3 Episode 3
| Brand | Blix |
| Company Name | Blix Education Pvt. Ltd. |
| Founders | Abbas Gabajiwala |
| Original Ask | 80 lakhs for 2% equity at the valuation of Rs. 40 crores |
| Deal | 80 lakhs for 4% equity at the valuation of Rs. 20 crores |
About the Product
Blix offers a range of innovative products, including robotic sets, spare parts, squeaky, and STEM toys. These toys not only enrich learning experiences but also enhance thinking and cognitive abilities. Additionally, Blix provides a specialized solution, “Blix for School,” catering to institutions seeking to integrate STEM education into their curriculum.
Modern schools face a greater responsibility beyond traditional curriculum delivery. Parents now expect schools to prepare their children for an ever-changing world, necessitating proactive efforts from school management. Many institutions recognize the importance of STEM and have incorporated it into their core curriculum, aligning with the growing awareness among parents.
With 25 years of expertise in designing and manufacturing STEM toys in India, Blix stands as a community dedicated to fostering a generation of builders, creators, and future change-makers. Their product line, including robotic sets and STEM toys, contributes significantly to developing essential skills and shaping the minds of students for a dynamic future.
Founders & their story
- Abbas Gabajiwala
Abbas, a 34-year-old individual hailing from Mumbai, delivered an impressive demo that showcased an innovative concept. Utilizing a product and Vineeta’s volunteering efforts, they successfully created a circuit using the human body, generating sound upon contact—a brilliant demonstration of electrical conductivity.
Blix, where Abbas and Vineeta work, is dedicated to revolutionizing the educational toy industry. They firmly believe in the power of play as a formidable teaching tool. At Blix, they focus on sparking curiosity and fostering critical thinking among children. With a rich heritage spanning three generations in toy-making, Blix aims to transform toys into valuable learning experiences and educational tools.
Their products, available in over 2000 retail stores, have made a significant impact in more than 5000 schools across India. Blix’s educational tools are particularly notable for teaching coding and robotics. The company is committed to providing equal opportunities for children, irrespective of their economic background, by developing fundamental skills and knowledge.
Launched in 2021 with an initial investment of 1.5 crores, Blix is at the forefront of reshaping how education and play intersect, offering a unique and impactful approach to learning for children across the country.
About the company:
The concept of STEAM education addresses the necessity to equip children for a rapidly evolving world, where the education system remains stagnant. It’s crucial not to assume that the conventional learning methods will suffice for them. STEAM encompasses Science, Technology, Engineering, Arts, and Mathematics, integrating these disciplines for a holistic hands-on learning experience. This approach enhances their understanding and knowledge depth, fostering curiosity, creativity, and problem-solving skills.
Anticipating that 80 percent of future jobs will demand STEAM skills, it becomes imperative to prepare children accordingly. The conventional notion of acquiring degrees for secure jobs is shifting, as influential companies like Google, Apple, Facebook, and others no longer mandate college degrees for recruits. This sets a precedent likely to become the norm by the time today’s children enter the workforce.
In this rapidly changing educational landscape, Blix is at the forefront, striving to bridge the gap by blending toys and education. Their innovative approach aims to provide children with a seamless integration of STEAM principles through a combination of interactive toys and educational tools, preparing them for a future where adaptability and diverse skill sets are key to success.
Revenue:
In the fiscal year 2022-2023, Blix reported a commendable revenue of 4 crores, with notable monthly figures such as May 2023 at 60 lakhs, April 2023 at 53 lakhs, and August 2023 at 36 lakhs. Despite the challenges, the company managed to achieve a profit of 7 lakhs in the same fiscal year. Looking ahead to the fiscal year 2023-2024, Blix projects substantial growth with a targeted sales figure of 8 crores. This optimistic outlook is attributed to a balanced approach, with 50% of sales expected to come from Blix Toys and the remaining 50% from Blix for Education.
Blix Toys is forecasted to maintain a gross margin of 40%, while Blix for Education is projected to achieve a higher gross margin of 60%. This diversification in product lines reflects a strategic business model aimed at optimizing profitability.
Founders’ Ask
80 lakhs for 2% equity at the valuation of Rs. 40 crores.
Offers:
Aman: Condition: In case of family conflict Aman should have the option to buy Abbas’s shares in Zephyr.
Aman: 40 lakhs for 4% equity at the valuation of Rs. 10 crores and 40 lakhs debt at 11% interest for 3 years.
Aman’s revised offer: 80 lakhs for 5% equity at the valuation of Rs. 16 crores.
Anupam and Vineeta: 80 lakhs for 5% equity at the valuation of Rs. 16 crores.
Aman and Ritesh Conditional offer: 1 crore for 6.25% equity at the valuation of Rs. 16 crores.
Piyush: 80 lakhs for 4% equity at the valuation of Rs. 20 crores.
Aman and Ritesh revised conditional offer: 80 lakhs for 4% equity at the valuation of Rs. 20 crores.
Founder’s Counteroffer:
90 lakhs for 3% equity at the valuation of Rs. 30 crores.
Final Deal
Aman and Ritesh: 80 lakhs for 4% equity at the valuation of Rs. 20 crores.
