In the last episode, the audience witness CloudWorx on Shark Tank India which impressed some of the sharks on the show and secure a deal at 40 lakhs with 3.2% equity at a valuation of ₹12.18 crore. Learn what services this AI cloud base business provides and which problems it solves for the customers.
Shark Tank India has been a revelation for entrepreneurs from all over India as it has boosted the confidence of many new business ideas. The sharks have invested in a variety of businesses in season 1 which did well and have become even bigger.
Seeing the success of season 1, a wave of young entrepreneurs showed interest in coming to show and present their businesses to earn investments. Sharks are also more eager to invest this season as all of the sharks have already invested in multiple businesses.
CloudWorx On Shark Tank India
In the Shark Tank India Episode 28, season an AI company Cloudworx lets clients build 3D models without the need of coding knowledge appeared on the show. It asked the sharks to invest ₹40 lakhs for 2% equity and successfully completed a deal at ₹ 40 lakhs for 3.2% equity.
Shark Namita Thapar the executive director of Emcure Pharmaceuticals India and Anupam Mittal co-founder of Shaadi.com together seal the deal at 1.6% equity each. Before coming to the shark tank, the startup had already raised ₹71 lakhs in a seed round that happened in May 2020 at a valuation of ₹8 crores.
About this AI business Namita said “With the use of this technology, you won’t need to be dependent on charts, dashboards, or graphs to make decisions. Monitoring your factories is possible from anywhere. It is possible to turn on or off any function in the factory with a single click from the software.”
Apart from Amit Jain, the co-founder of CarDekho who claimed that the platform offered no innovation and the products were already on the market, all others liked the idea and admired the founder, Yuvraj Tomar
CloudWorx On Shark Tank India – Major Highlights
|Startup Name||CloudWorx Technologies|
|Startup Mission||Build 3D models requiring no former knowledge of coding|
|CloudWorx Studio Founder Name||Yuvraj Tomar|
|Incorporation of CloudWorx Technologies Pvt Ltd||2019|
|CloudWorx Initial Ask||₹40 lakhs for 2% equity|
|Company’s Valuation||₹12.58 crore|
|Total Revenue Till Date||₹1.45 crores|
|CloudWorx Deal On Shark Tank||₹40 lakhs for 3.2% equity|
|Investors||Anupam Mittal & Namita Thapar|
What is CloudWorx
CloudWorx is a combination of modern software development elements in a Web-based interface called No Code Metaverse App Builder. By visiting its website and logging in with an account, a user can start creating a 3D or Metaverse Model for his or her company.
Yuvraj Tomar founded the company, a graduate of Punjab Engineering College and former Cisco software developer. Through the services it offers, the startup has received more than Rs. 1.45 crore since its inception in 2020.
Its founder explained to the sharks how it solves problems by monitoring which machines in your factory are consuming the most energy without going to your own factory. It is done by using a technology called heat mapping, which monitors the object’s temperature.
Even employees can be monitored with body temperature stamps, and managers can find out which areas have the most employees huddled together. The digital 3D model of the company store can be accessed without the need for a web browser by scanning a code.
This platform allows users to import their 3D models, create animation, interactions, workflow, and alerts. In Shark Tank India, it managed to attract investments and get a deal that was close to what it asked for.
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CloudWorx On Shark Tank India has managed to impress the majority of the judges on the show and sealed a deal with two great sharks Anupam Mittal & Namita Thapar. According to investing sharks, it is a startup that has the potential to scale big time in the near future.