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Tag: Shripal Morakhia

  • “Smaaash has played a pivotal role in popularising VR entertainment in India” : Avanish Agarwal

    “Smaaash has played a pivotal role in popularising VR entertainment in India” : Avanish Agarwal

    Mumbai: SMAAASH, where sports, virtual reality, music, and dining converge to create an immersive social experience unlike any other. Established in 2012 by the visionary Shripal Morakhia, SMAAASH has become synonymous with cutting-edge gaming and entertainment in India.

    From state-of-the-art sports simulation technology to thrilling virtual reality experiences like Walk the Plank and Finger Coaster, SMAAASH captivates guests of all ages with its innovative attractions.

    With 32 centers spanning 16 cities, including its acclaimed launch at the Mall of America, SMAAASH is a powerhouse of entertainment both at home and abroad. Whether you’re a family, a group of friends, or a child at heart, SMAAASH invites you to indulge in a plethora of activities that promise excitement and fun for everyone.

    Indiantelevision caught up with  SMAAASH CMO Avanish Agarwal  to talk about the core concepts behind SMAAASH, its unique offerings, its contribution to the growth of virtual reality entertainment in India

    On SMAASH launching, is it a pure Indian thought process or an International concept

    Smaaash was launched in 2012, blending Indian creativity with international standards, making it a unique fusion of both. Our core concept revolves around combining sports, entertainment, and innovative technology to create memorable experiences. We are the pioneers in twilight bowling, there are other places at the time that offered just simple bowling and we took it to the next level.

    On the core concept behind SMAAASH, and On the differentiating itself from other entertainment centres

    Smaaash stands out by offering a mix of virtual reality, augmented reality, and interactive technology, enhancing traditional gaming experiences. This differentiation provides customers with immersive and engaging entertainment options not found elsewhere. Also, all the VR games that we have are developed in-house from concept to execution.

    On SMAAASH utilising virtual reality technology to create immersive gaming experiences, specific examples of popular VR games offered

    We leverage virtual reality extensively to offer cutting-edge gaming experiences. Popular VR games like ‘Finger Coaster’ and ‘Vertigo’ exemplify how we immerse players in thrilling virtual environments, enhancing their gaming encounters.

    On SMAAASH contributed to the growth and popularity of virtual reality entertainment in India

    Smaaash has played a pivotal role in popularising virtual reality entertainment in India by introducing innovative VR attractions and consistently upgrading our offerings to match global standards

    On SMAAASH balance offering high-quality, cutting-edge entertainment with keeping prices reasonable for its customers

    We strive to strike a balance between offering high-quality entertainment and maintaining affordable prices for our customers, ensuring accessibility without compromising on the experience.

    On the significance of SMAAASH’s in-house research and production capabilities in the development of their games and experiences

    Our in-house research and production capabilities allow us to constantly innovate and develop unique games and experiences tailored to the preferences of our diverse customer base.

    On SMAAASH caters to different age groups and interests within its diverse range of offerings

    Smaaash caters to various age groups and interests through a wide range of offerings, including arcade games, sports simulations, VR experiences, and family-friendly attractions.

    On the standout features and attractions at SMAAASH, particularly those related to sports simulation technology

    Our sports simulation technology, including cricket, football, and racing simulators, provides an authentic and thrilling experience for sports enthusiasts, enhancing their visit to Smaaash.

    On the efforts that SMAAASH has made to ensure safety and comfort for visitors while using advanced gaming technologies like virtual reality

    We prioritize the safety and comfort of our visitors by implementing stringent safety protocols and guidelines, particularly concerning the usage of advanced gaming technologies like virtual reality

    On SMAAASH incorporating elements of music and dining into the overall experience and sets its approach apart from traditional entertainment venues

    Smaaash integrates elements of music and dining into the overall experience by offering themed restaurants, live music events, and interactive dining options, creating a vibrant and dynamic atmosphere

    On the future planning or expansions in the works for SMAAASH that visitors can look forward to

    We are continuously exploring opportunities for expansion and innovation, with plans to introduce new attractions, enhance existing offerings, and expand our presence to new locations both domestically and internationally.

    On feedback or testimonials that you have received from visitors that underscore the uniqueness and special qualities of SMAAASH

    We receive positive feedback and testimonials from visitors highlighting the unique and special qualities of Smaaash, particularly praising our immersive experiences, innovative attractions, and vibrant ambience. We are also a part of people’s celebrations and have celebrated more than 10,000 social events since the inception

  • Smaaash Entertainment appoints Shirish Kotmire as CEO

    Smaaash Entertainment appoints Shirish Kotmire as CEO

    Mumbai: Gaming and entertainment centre operator Smaaash Entertainment has announced the appointment of Shirish Kotmire as its new CEO.

    Kotmire brings about three decades of experience in aggressive growth-oriented mature global companies as well as successful new ventures and start-ups. “He is a quintessential growth hack that demonstrates entrepreneurial spirit in all his endeavours with innovation, team building, professional work ethic and techno commercial savviness,” said the statement.

    Based out of Mumbai, Kotmire’s immediate task will be to build a team of experienced CXO who shall anchor the transformation journey of Smaaash to create new benchmarks in this industry, the company said.

    “We are elated to have Shirish Kotmire in our team at Smaaash, he has experience in marquee retail, technology brands, and promoter-driven ventures,” said Smaaash Entertainment founder and chief imagination officer Shripal Morakhia. “At 63, I worked hard to resurrect Smaaash in the last six months. It was high time that a professional leadership team took over to guide Smaaash to new heights. The appointment of Shirish as the CEO is the first step in that direction. With his vast experience in creating value across businesses we look forward to his leadership to deliver same store growths as well as execute the blitzkrieg of new stores expansion nationally”.

    “I am honored and pleased to accept the privilege of heading Smaaash and strengthening the position of Smaaash as the fun, party, play, bonding and entertainment destination for informal friends’ groups, corporate and retail customers along with building digital engagement with them,” said Shirish Kotmire.

    He added, “Our consumers have grown up on Smaaash over the last 11 years and have a strong affinity to the brand. In our second inning, we are giving a classy environment along with a potent combination of gaming-bowling, go-karting, arcade and VR games along with a pocket-friendly resto bar to relax after a tiring but fun gaming time. To build stickiness and exploit opportunities in the growing gaming space, we are on the cusp of introducing exciting innovative formats in the physical edutainment space also”.

    Shirish holds a postgraduate diploma in Marketing from IIM Bangalore and did his graduation bachelor of technology computer engineering from the National Institute of Technology Karnataka. “With his vast skill set in monetizing assets by innovation in sales, marketing and technology it makes him the ideal choice as the CEO at Smaaash,” said the statement.

    His previous companies in leadership positions include Reliance Retail GVK-Mumbai International Airport, Bharti Airtel, Rediff.com and Asian Paints, among others. The top skills which his seniors and colleagues acknowledge are business development, financial planning, business strategy, and execution as well as team management.

    He is passionate about mentoring start-up co-founders as well as sharing his entrepreneurship leanings through skill-based courses as a visiting faculty in SPJIMR, Mumbai.

  • Tendulkar’s Smaaash acquires SVM Bowling and Gaming

    Tendulkar’s Smaaash acquires SVM Bowling and Gaming

    MUMBAI: Smaaash, a sports-based virtual entertainment company co-owned by Sachin Tendulkar, has acquired a 100 per cent stake in SVM Bowling and Gaming, a popular bowling and entertainment format operated by SVM Private Limited.

    Fractal Capital acted as the sole advisor to Smaaash for the PVR bluO and SVM deals.

    The new acquisition will add 13 centers to Smaaash’s blueprint in India, across Hyderabad, Mysore, Madurai, Vijaywada, Mangalore and Pune, and Smaaash will introduce its signature games at all locations.

    The deal is a part of the national growth strategy, and Smaaash will now be present in 26 centers across 13 cities in India, besides the one in the Mall Of America – the largest mall in the US.

    SVM’s strategy in Tier B and C towns and cities is what attracted Smaaash to the proposition, and theirstrong market relationships and customer-focused approach present a fantastic geographic, strategic and cultural fit for Smaaash.

    Smaaash Entertainment founder and chief imagination officer Shripal Morakhia said, “Our endeavour is to provide aspirational active experience and sports throughout India, whether it is a big metropolis or a small town. We are totally committed to “un-pause” the play button of all Indians. As consumer behaviours and expectations continue to be reshaped by experiences, we are sure that SVM’s infrastructure, coupled with Smaaash’s leadership in innovation will make this association unlock transformational synergies in the gaming space.

    SVM chairman Vijayender Tulla said, “The gaming and entertainment business will benefit greatly from consolidation, as the scale significantly enhances operational efficiencies and brand value.

    The transaction would enable us to focus more on our malls, multiplexes and medical sector businesses. I have been invited to be part of Smaaash Board.”

  • Sports & experiential ent.: PVR & Major sell bluO to Smaaash for Rs 860 mn

    MUMBAI: PVR Ltd today announced that it has entered into definitive agreement with Smaaash Entertainment (‘SMAAASH’) to sell its stake in bluO entertainment, a premium bowling and entertainment format operated by the company.

    As part of its national expansion plans, world class gaming and entertainment company Smaaash Entertainment has acquired 100 per cent stake in bluO entertainment (a premium bowling and entertainment format), for a consideration of approximately Rs. 860 million.

    bluO is a joint venture between PVR Limited and Major Cineplex Group of Thailand in which PVR owns 51 per cent stake with balance 49 per cent stake held by Major Group. The acquisition marks the doubling of the area under Smaaash management from 276,000 square feet to approximately around 600,000 square feet in India.

    The significant acquisition also adds six centres (approximately 210,000 sq. ft. of premium space) across five cities to Smaaash’s existing blueprint of seven centres in India and one in Minneapolis in the United States. The newly acquired centres will operate under Smaaash branding and two more centres are expected to open shortly. Smaaash will introduce its signature games at all bluO centres, which only had bowling before.

    PVR chairman & MD Ajay Bijli said, “The sale of bluO is in line with our strategy to divest all non-core assets and focus on our core cinema exhibition business. It is also reflective of the value embedded in our core assets and demonstrates our commitment to increase shareholder value and provide management a more focused approach for enhancing value in exhibition business. We are pleased to sell the business to Smaaash, which is a leader in retail and entertainment space in India and the US; and believe that they will take the business to even greater heights.”

    Smaaash Entertainment chairman & CIO Shripal Morakhia said, “The strategic acquisition of bluO is a significant step in doubling Smaaash’s scale and outreach in India’s fast growing retail entertainment space. The synergies between both brands are deeply symbiotic in creating a network of centers in key cities that are designed as destinations with a relentless focus on wholesome sports, active life, and adventure for urban citizens. We are sure that bluO’s premium locations, infrastructure and F&B offerings, coupled with Smaaash leadership in innovation with new technology and virtual reality, will fill a much-needed gap for experiential entertainment in our country. We are committed to enhancing profitability and revenue per centre while being the custodian of customer smiles in these centres.”

    The acquisition comes on the heels of Smaaash’s recent international success story in the Mall of America, Minneapolis, United States.

    EY acted as the exclusive financial advisor to the shareholders of PVR bluO for the transaction.

  • Sachin Tendulkar announces ‘Cricket Carnival’ at Smaaash, India

    Sachin Tendulkar announces ‘Cricket Carnival’ at Smaaash, India

    BENGALURU: Smaaash Entertainment Pvt. Ltd., launched the Smaaash Sachin Virat Cricket Carnival in association with its brand ambassador Sachin Tendulkar at its new outlet at the DLF Mall of India, Noida. Smaaash is a world-class sports-centric immersive and interactiv entertainment center that offers unmatched range of games – covering sports like cricket, football, ten-pinbowling besides a superlative virtual-reality experience. The launch of Smaaash Noida also commemorates the launch of Mighty Small Café & Bar in NCR. Mighty Small at Smaaash is the new concept café being launched at all Smaaash properties across the country.

    The ‘Smaaash Sachin Virat Cricket Carnival’is presented by legendary cricket icons Sachin Tendulkar and Virat Kohli, who are associated with Smaaash – India’s leading sports and entertainment zone. The carnival with nationwide presence is designed to be a fun-filled cricket tournament that will bring together 2000 teams across the nation to compete against each other. The tournament will be played across five Smaaash centers and the finals will be held in Mumbai. The highlight of this tournament will be the grand finale where the prizes will be awarded by both the cricket luminaries, Sachin Tendulkar and Virat Kohli, at a glittering event in Mumbai.

    Brain child of the multi-faceted entrepreneur Shripal Morakhia, Smaaash combines the best of sports, music and dining into a highly immersive, interactive, innovative and involved entertainment experience. At the launch of the ‘Smaaash Sachin Virat Cricket Carnival’, the founder said, “Smaaash is the only brand that has the support of two cricketing legends – Sachin and Virat. The glorious presence of these stalwarts will surely make the this carnival an event to remember for cricket enthusiasts all over the country.”

    Sachin Tendulkar, the brand ambassador of Smaaash addressed his fans at the launch event and said: “The exciting and unique concept of Smaaash provides the avenue to enjoy the pleasures of life. With the kind of stressful lives we lead, it’s imperative to play sports and relax our minds. This Cricket Carnival is designed to bring the excitement of real sports into your lives with incredible precision, modern equipment and real life experience. I look forward to this tournament connecting cricket lovers from across the country.”

    On the other hand, Virat Kohli, Smaaash Youth Icon, added: “All that cricket lovers want is entertainment. Not a war or a fight. This Cricket Carnival is a larger-than-life sports festival that will be a perfect platform for all cricket enthusiasts to showcase their skills. The aim of this fun fiesta is to engage youth in thrilling activities and social interaction with their peers. Of course, the pulsating energy of a real-like cricket pitch will make this tournament a memorable experience for all. I am so excited to be a part of this one-of-its-kind cricket fest.”

    The legendary sportstar Sachin Tendulkar has been an integral part of the Smaaash family since its inception in 2012. In his own words, “The advanced simulators at Smaaash are fascinating and are very close to the real match experience.” On the other hand, one of the world’s leading batsmen, Virat Kohli was signed as the Smaaash Youth Icon in early 2015. Thus Smaaash is the only brand that has the support of two cricketing legends, and the glorious presence of these stalwarts will surely make the Smaaash Cricket Carnival an event to remember for cricket enthusiasts all over the country.

    Cricket lovers can start registering their entries for the tournament that will be conducted across Smaaash centers, in Mumbai, Gurgaon, Noida, Bangalore and Hyderabad. Each six member team will play in the Smaaash cricket lanes and face a selected bowling line up. The Smaaash Sachin Virat Cricket Carnival will have five Categories- Under 16 (School), Under-25 (College), Open, Corporate and Women’s Category. The Open Category winners from each city will be eligible to come to Mumbai and will face off as Team Sachin and Team Virat.

    This tournament will be played at Smaaash’s one-of-its-kind 360-degree cricket simulator at each center where cricketing legends like Shane Warne, Wasim Akram, Kieron Pollard, Sachin Tendulkar and many others bowl to you.

    The precise technology of Smaaash Cricket not only replicates the bowler’s action perfectly, but also the cricket simulator is the only one of its kind which can bowl spin and swing balls with variations of line and length. The laser tracking and the high-tech cameras track every move and even offer replays and wagon wheels of the score.

    Thus cricketing teams, who’re used to playing in apartment compounds and neighbourhood parks, will now get the experience of playing at the packed Lord’s stadium.

    There is a nominal registration fee and the interested teams can register on the official website of Smaaash i.ewww.smaaash.in. The registration process will begin on May 20th, 2016 at all five Smaaash centres. The winners across categories can take home the Smaaash Sachin Virat Cricket Carnival Cup along with memories of being mentored by a legend. That’s not all, the national winner and runner-up in the Open category will get Rs. 5 lakhs and Rs.3 lakhs respectively.

    This is a press release.

     

  • Sachin Tendulkar announces ‘Cricket Carnival’ at Smaaash, India

    Sachin Tendulkar announces ‘Cricket Carnival’ at Smaaash, India

    BENGALURU: Smaaash Entertainment Pvt. Ltd., launched the Smaaash Sachin Virat Cricket Carnival in association with its brand ambassador Sachin Tendulkar at its new outlet at the DLF Mall of India, Noida. Smaaash is a world-class sports-centric immersive and interactiv entertainment center that offers unmatched range of games – covering sports like cricket, football, ten-pinbowling besides a superlative virtual-reality experience. The launch of Smaaash Noida also commemorates the launch of Mighty Small Café & Bar in NCR. Mighty Small at Smaaash is the new concept café being launched at all Smaaash properties across the country.

    The ‘Smaaash Sachin Virat Cricket Carnival’is presented by legendary cricket icons Sachin Tendulkar and Virat Kohli, who are associated with Smaaash – India’s leading sports and entertainment zone. The carnival with nationwide presence is designed to be a fun-filled cricket tournament that will bring together 2000 teams across the nation to compete against each other. The tournament will be played across five Smaaash centers and the finals will be held in Mumbai. The highlight of this tournament will be the grand finale where the prizes will be awarded by both the cricket luminaries, Sachin Tendulkar and Virat Kohli, at a glittering event in Mumbai.

    Brain child of the multi-faceted entrepreneur Shripal Morakhia, Smaaash combines the best of sports, music and dining into a highly immersive, interactive, innovative and involved entertainment experience. At the launch of the ‘Smaaash Sachin Virat Cricket Carnival’, the founder said, “Smaaash is the only brand that has the support of two cricketing legends – Sachin and Virat. The glorious presence of these stalwarts will surely make the this carnival an event to remember for cricket enthusiasts all over the country.”

    Sachin Tendulkar, the brand ambassador of Smaaash addressed his fans at the launch event and said: “The exciting and unique concept of Smaaash provides the avenue to enjoy the pleasures of life. With the kind of stressful lives we lead, it’s imperative to play sports and relax our minds. This Cricket Carnival is designed to bring the excitement of real sports into your lives with incredible precision, modern equipment and real life experience. I look forward to this tournament connecting cricket lovers from across the country.”

    On the other hand, Virat Kohli, Smaaash Youth Icon, added: “All that cricket lovers want is entertainment. Not a war or a fight. This Cricket Carnival is a larger-than-life sports festival that will be a perfect platform for all cricket enthusiasts to showcase their skills. The aim of this fun fiesta is to engage youth in thrilling activities and social interaction with their peers. Of course, the pulsating energy of a real-like cricket pitch will make this tournament a memorable experience for all. I am so excited to be a part of this one-of-its-kind cricket fest.”

    The legendary sportstar Sachin Tendulkar has been an integral part of the Smaaash family since its inception in 2012. In his own words, “The advanced simulators at Smaaash are fascinating and are very close to the real match experience.” On the other hand, one of the world’s leading batsmen, Virat Kohli was signed as the Smaaash Youth Icon in early 2015. Thus Smaaash is the only brand that has the support of two cricketing legends, and the glorious presence of these stalwarts will surely make the Smaaash Cricket Carnival an event to remember for cricket enthusiasts all over the country.

    Cricket lovers can start registering their entries for the tournament that will be conducted across Smaaash centers, in Mumbai, Gurgaon, Noida, Bangalore and Hyderabad. Each six member team will play in the Smaaash cricket lanes and face a selected bowling line up. The Smaaash Sachin Virat Cricket Carnival will have five Categories- Under 16 (School), Under-25 (College), Open, Corporate and Women’s Category. The Open Category winners from each city will be eligible to come to Mumbai and will face off as Team Sachin and Team Virat.

    This tournament will be played at Smaaash’s one-of-its-kind 360-degree cricket simulator at each center where cricketing legends like Shane Warne, Wasim Akram, Kieron Pollard, Sachin Tendulkar and many others bowl to you.

    The precise technology of Smaaash Cricket not only replicates the bowler’s action perfectly, but also the cricket simulator is the only one of its kind which can bowl spin and swing balls with variations of line and length. The laser tracking and the high-tech cameras track every move and even offer replays and wagon wheels of the score.

    Thus cricketing teams, who’re used to playing in apartment compounds and neighbourhood parks, will now get the experience of playing at the packed Lord’s stadium.

    There is a nominal registration fee and the interested teams can register on the official website of Smaaash i.ewww.smaaash.in. The registration process will begin on May 20th, 2016 at all five Smaaash centres. The winners across categories can take home the Smaaash Sachin Virat Cricket Carnival Cup along with memories of being mentored by a legend. That’s not all, the national winner and runner-up in the Open category will get Rs. 5 lakhs and Rs.3 lakhs respectively.

    This is a press release.

     

  • SMAAASH announces ‘Total Sports Asia’ as its exclusive brand solutions agency

    SMAAASH announces ‘Total Sports Asia’ as its exclusive brand solutions agency

    MUMBAI: Smaaash Entertainment (SMAAASH) has announced its exclusive partnership with Total Sports Asia (TSA). A global leader in sports, entertainment & branding solutions, TSA will come on board as its exclusive Sponsorship Sales and Brand Solutions agency for all the SMAAASH centers in the country and abroad.

     

    Through this association, SMAAASH aims at reaching out to brands and marketers across the country, by leveraging the specialised services offered by TSA and by further exploring key business development activities. TSA will provide expertise in providing customised solutions to brands, who want to engage with their consumers in unique and engaging routes, via the wide gamut of sponsorship opportunities across existing and upcoming SMAAASH centers.

     

    TSA director – sales and business development Ramakrishnan R said, “In this new era of sportainment, TSA is excited to be partnering with SMAAASH – the next big thing in gaming and entertainment, for all its upcoming centres. This is the closest to reality and an exciting platform for brands to interact with their consumers. Over the years we have successfully delivered to our rights holders globally and with our expertise across all offices globally, we hope to add value to SMAAASH through clearly defined brand assets.”

     

    Very recently SMAAASH Entertainment roped in FW Sports Investment Fund LP (FSIF), a Mauritius-based private equity fund as strategic investor; this is the first round of private equity funding into the company. This capital base will be a catalyst for the company to achieve its aggressive expansion plans and meet its objective of providing active entertainment via a fun filled, value-for-money experience.

     

    SMAAASH founder Shripal Morakhia added, “We are pleased to partner with Asia’s global leader in sports content and branding solutions- Total Sports Asia, as the team’s official Brand Solutions Agency. SMAAASH engages with every customer in a unique way, and this partnership with TSA will help add long term value to all constituents – from our customers and brands to TSA & SMAAASH.”

     

    With an aim to entertain the masses with incredible indoor game facilities, SMAAASH is on the verge of expansion and meeting all the core points of the country. Spreading across the fun and entertainment zone with the most unique concepts, this sports-centric immersive and interactive entertainment venue by the end of 2014’s financial year will touch base in Surat, Delhi – Noida & Gurgaon, Hyderabad, Bangalore and Pune.

  • SMAAASH ropes in FW Sports Investment Fund as strategic investor

    SMAAASH ropes in FW Sports Investment Fund as strategic investor

    MUMBAI: FW Sports Investment Fund LP (FSIF), a Mauritius-based private equity fund, has acquired a significant minority stake in Mumbai based Smaaash Entertainment (SMAAASH).

     

    This is the first round of private equity funding into the company.

     

    Pioneering the field of sports simulation technology in India, SMAAASH has developed a unique concept that blends sports, music and dining into an immersive and involved social entertainment experience. It’s first such sports-based entertainment centre that was started in 2012 in Mumbai. The centre is home to highly interactive sports simulators across different sports such as cricket, football and racing, as well as many other thrilling and recreational attractions. The Company is promoted by serial entrepreneur Shripal Morakhia, who had earlier founded SSKI &ShareKhan.

     

    “SMAAASH is an emotionally and physically engaging proposition that uses technology to meet consumer aspirations. We are very excited at having FSIF as our partner. Our plan is to open multiple centres across India and globally over the next couple of years, and FSIF’s involvement will help us immensely with our global plans”, said SMAAASH founder director Shripal Morakhia.

     

    Cricket icon Sachin Tendulkar and STAR India are also associated with this unique venture from its inception.

     

    Sachin Tendulkar who is a strategic investor in SMAAASH said, “The advanced simulators at SMAAASH are fascinating and are very close to real life experience. Sporting enthusiasts can leverage the technology at SMAAASH to harness their skills and gain experience of challenges faced on the field. The facilities at SMAAASH cater to the demands of the young, sporting minds of the nation”.

     

    “SMAAASH demonstrates creativity and innovation at its best — principles that form the very core that drives Star. That innovation has meant that SMAAASH is quickly emerging as the sports entertainment destination among today’s youth,” said Star India COO Sanjay Gupta.  “We are very proud to partner this unique venture and its team led by Shripal from its very conception to pilot and now its growth phase. There’s no doubt SMAAASH will soon grow to be one of the biggest global enterprises in active sports entertainment.”

     

    This is the second major investment by FSIF, Asia’s first sports dedicated fund. Earlier this year, FSIF had acquired a significant minority stake in Technology Frontiers, a leading global provider of in-stadia activation solutions. The fund is led by Anand S. Krishnan, who has earlier been a managing director at JPMorgan in America and Asia.

     

    Commenting on the investment, Anand S. Krishnan said, “SMAAASH leverages sports as a medium to connect with customers – families, corporates, and retail. The company is uniquely positioned to expand its footprint throughout India and worldwide; its innovative, differentiated, and aspirational offering addresses the bourgeoning demand for active entertainment. We are excited to be a part of this story and look forward to working with the SMAAASH team.”

     

    Anand S. Krishnan and Sripat Pandey will be joining the board of directors of SMAAASH.

     

    EY India acted as the exclusive investment bankers on the transaction and J. Sagar Associates acted as the legal advisor to FSIF. EYIndia partner Ajay Shah, who led the transaction said, “The Indian sports-based entertainment industry has grown rapidly over the last few years, driven by an increase in discretionary spending ability of the consumer. SMAAASH now has a total equity capital base of approximately Rs 150 crore. This capital base will be a catalyst for the company to achieve its aggressive expansion plans and meet its objective of providing social entertainment via a fun filled, value-for-money experience”.