Dear Klop,
Kabuni, a British sports technology coaching business, is building deeply at the intersection of AI, sports technology, gaming and hardware. That investment is not abstract. The technology is live, with 30 engineers in India and launching Cricket as its first market with 100m passionate people playing cricket in India.
PlayOS, is their AI coaching engine which can be used across multiple sports and uses computer vision, biomechanics and proprietary LLMs to analyse technique in real time. It cross-references against elite archive footage and delivers through personalised voice, video and text coaching. Their F1 scores for both ball tracking and pose estimation are industry leading with averages of 90% accuracy.
Kabuni has created significant IP. The obvious defensible layer is the algorithm itself, but we must not forget the proprietary dataset behind it. You cannot patent data, but you also cannot replicate it without years of deployment across thousands of real sporting sessions. That dataset compounds with every session, every school and every market they enter. It is not something a well-funded competitor can simply buy or build overnight.
On valuation: They are raising at £25M pre-money, representing a 73% discount to their own probability-weighted internal model. The foundations underpinning that model are already in place with a signed POC with Cricket Australia, an active archive partnership with Cricket South Africa, and a verbally agreed partnership with the Reliance Foundation with a direct mandate from the Ambani family tied to India's 2036 Olympic ambitions. Their CEO was unambiguous: "Get the pilot right, then we put this into 1,000 schools per state and 1.5m schools across India. They also have distribution partnerships with Times of India and White Canvas giving them access to over 5000 schools when they are ready to scale. Their financial model projects £78M ARR in FY2027, driven by a bottom-up subscriber model built around schools with 80%+ SaaS revenue throughout and an LTV/CAC of 11x. Happy to share the model if that would be useful.
Which brings us to the inflection point. Their June 7th launch at the Jio Centre Mumbai (800 guests including 400 school owners, investors and journalists, with live K10 demos and pre-registrations for the KPL and schools opening) is where the risk profile of the business changes materially. Category-defining technology companies have historically experienced significant shifts in both perceived risk and valuation once product adoption becomes visible. We believe June 7th is that moment for Kabuni.
I have taken a significant personal stake in the company as I truly believe I will not have another opportunity like this in my lifetime where there is the perfect storm of new technologies converging, buy in from sports leadership, top-down distribution & market potential.
If this investment is of interest and you would like to invest before the rounds closes and want to take advantage of its EIS tax relief, please email by return. This will be the last time you can buy in at this share price before the valuation goes up significantly.
Kind regards,
Richard
Richard Diaz
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Chief Executive Officer |
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16 Berkeley St. | Mayfair | London | W1J 8DZ |
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E: r.diaz@blackcastlecapital.co.uk | www.blackcastlecapital.co.uk |
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Black Castle Capital Partners Limited. Registered in England and Wales with Company Number 10635644. Registered Office: 48 Charles Street, Mayfair, London W1J 5EN.
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