Blix

Abbas Gabajiwala was the Founder and CEO of Blix Toys. He is a third-generation toy maker based in Mumbai, Maharashtra. He started working in his family business Zephyr and created the Blix brand. But soon realized that his vision was much larger. He wanted to make educational toys to provide STEM learning for kids. So, his brother Moiz advised him to do this as a separate entity. Blix started in 2020 with the idea of educating India with toys.

Blix is a learning-based toys startup. Their main objective is to provide education and learning in a fun and creative manner to children. Through their toys, children can learn about various science concepts such as force, power, voltage and even robotics, coding and artificial intelligence. Blix is an interactive educational toy brand for young minds. They sell robotics kits and STEM Toys. The idea is to teach kids about interesting science concepts using toys. One of the most interesting toys in his shop was Queaky, which teaches us about electricity, conductors, and current.

Amount Asked: ₹80 lakhs Equity Offered: 2% Implied Pre-Money Valuation: ₹40 crore

Abbas walked into Season 3 Episode 3 as a founder whose three-generation family heritage in the Indian toy industry gave every product claim an authenticity that first-generation toy brand founders cannot replicate. He opened by demonstrating Queaky the electricity-teaching toy with Vineeta Singh, converting the investment evaluation session into a genuine product experience moment before a single financial number was discussed. He even demonstrated his new toy named Queaky with Vineeta Singh and she was impressed with the little toy for kids. The "unpleasant incident in Europe" that inspired the mission to make India the global centre of toys added the founding motivation backstory personal experience of how Indian toys were perceived internationally, contrasted against the enormous talent and potential within India's toy manufacturing heritage, gave Abbas's mission the specific personal urgency that product strategy alone could not communicate.

Aman Gupta made the first solo offer at 5% equity, then escalated with Ritesh to ₹1 crore for 6.25% equity. His boAt consumer brand expertise, combined with the toy market's D2C growth opportunity, made Blix a natural investment. Anupam Mittal and Vineeta Singh co-offered ₹80 lakhs for 5% a coalition competing directly with Aman's offers. Peyush Bansal and Namita Thapar also expressed interest, creating a five-way competitive investment environment. Ritesh Agarwal joined Aman's coalition his OYO scaling expertise and international market experience (relevant to Abbas's vision of making India a global toy centre) made the Aman-Ritesh combination particularly compelling for the founder.

Abbas Gabajiwala from Blix demanded ₹80 lakhs for 2% equity at a valuation of ₹40 crores. After various negotiations, the deal closes at ₹80 lakh for 4% with Aman and Ritesh. At the end, the founder gave a counter offer of ₹90 Lakh for 3% which means a valuation of ₹30 Cr. After various negotiations, the deal closes at ₹80 Lakh for 4% with Aman and Ritesh. The negotiation progressed through multiple rounds: Abbas's 2% ask, multiple competing coalition offers at 5%, Abbas's counter at 3%, and the final settlement at 4% with Aman and Ritesh at ₹80 lakhs a conditional offer. The conditional nature of the final deal reflected the Sharks' concerns about the family distribution arrangement with Zephyr and the potential for family conflicts.

Blix secured an investment of ₹80 Lakhs for 4% Equity, Conditional Offer from Aman Gupta, Ritesh Agarwal bringing the company's valuation to ₹20 Crore. Abbas Gabajiwala accepted Aman Gupta and Ritesh Agarwal's conditional offer of ₹80 lakhs for 4% equity valuing Blix at ₹20 crore. The conditional structure reflected the family governance concern around the Blix-Zephyr distribution arrangement. Abbas had rejected pure debt offers during the negotiation and ultimately chose Aman's consumer brand expertise paired with Ritesh's international scaling vision over the competing Anupam-Vineeta coalition.

Blix is a toy manufacturing startup that focuses on providing educational toys and robotics kits for kids. It aims to offer children the right tools, content, and challenging environment so that they can learn things effectively. Their Products are available across 2,000+ Retail Stores, Also Amazon, Flipkart, and their website. 5,000+ Indian Schools Use Blix Educational Kits to Teach Robotics and Coding. Blix continues growing school adoption expanding beyond the 5,000 schools at pitch, retail presence deepening across 2,000 plus stores, and the Aman-Ritesh investment providing both the D2C consumer brand building expertise (Aman) and the international market expansion vision (Ritesh) that Abbas had cited as the specific value he needed beyond capital.