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Season 1

LOKA Shark Tank India Season 1

by IndiaSuccessStories
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LOKA Shark Tank India Season 1 Got 75 Lakhs Funding in Exchange of 15% Equity by Namita Thapar.

LOKA Shark Tank India Season 1

Pitch no 36 with company details

LOKA

We are LOKA, the first metaverse startup in India, building an immersive and interactive virtual environment for exploration, gaming, socializing, and shopping.

Our goal when we founded LOKA in 2020 was to localize and introduce Indian culture to the metaverse. We are a group of enthusiastic designers, illustrators, and game developers that enjoy making interesting and enjoyable experiences for our customers. We want to be at the vanguard of this transformation because we think the metaverse is the internet’s future.

Founder of LOKA

Currently, Krishnan Sunderarajan holds two positions: co-founder of Foodebaba and founder of LOKA.

LOKA Funding Round

Company Name

LOKA

Shark Tank India Season

1

Episode No

12

Season No

1

Brand

LOKA

Idea

Metaverse App

Original Ask

40 lakhs for 5% equity

Deal

40 lakhs for 24% equity

Invested By:

Anupam Mittal, Aman Gupta and Peyush Bansal

At the heart of LOKA's pitch lay a dedication to pushing the boundaries of virtual reality and digital interaction. Their Metaverse app promised to offer users a seamless and immersive experience, blurring the lines between the physical and digital worlds. From virtual events and entertainment to social gatherings and educational experiences, LOKA aimed to create a dynamic and vibrant virtual ecosystem that catered to a diverse range of interests and preferences.

The Pitch:

LOKA entered the tank with a bold vision to transform the digital landscape through their Metaverse app. Their pitch highlighted the growing popularity of virtual worlds and emphasized how LOKA aimed to create an immersive platform where users could socialize, explore, and engage in virtual experiences. With a focus on cutting-edge technology and user-centric design, LOKA sought to capture the imagination of the Sharks and secure the investment needed to propel their app to new heights. Their initial ask of ₹40 lakhs for a 5% equity stake reflected their confidence in the potential of their platform to disrupt the digital space.

The Deal:

Impressed by LOKA's ambitious vision and the potential of their Metaverse app to redefine digital engagement, Anupam Mittal, Aman Gupta, and Peyush Bansal saw an opportunity to invest in a platform at the forefront of technological innovation. They collectively offered the full amount of ₹40 lakhs in exchange for a 24% equity stake, effectively valuing the company at ₹1.67 crores. This strategic investment not only provided LOKA with the capital needed to accelerate their development efforts but also brought on board investors with a wealth of experience and expertise in the tech industry.

Investors Behind LOKA

Anupam Mittal, Aman Gupta and Peyush Bansal: LOKA enthusiastically accepted the offer from Anupam Mittal, Aman Gupta, and Peyush Bansal, marking a significant milestone in their journey to pioneer the Metaverse in India. With the backing of strategic investors who shared their passion for innovation and technology, LOKA was well-positioned to further develop their app, expand their user base, and solidify their position as leaders in the emerging Metaverse market.

Conclusion:

The success of LOKA on Shark Tank India Season 1 underscores the growing interest and investment in virtual reality and the Metaverse. By offering a platform that promises to revolutionize digital experiences, LOKA is poised to make a significant impact on how people interact and engage with technology. With the support and guidance of Anupam Mittal, Aman Gupta, and Peyush Bansal, LOKA is well-equipped to navigate the challenges and opportunities of the evolving digital landscape, shaping the future of digital engagement in India and beyond.

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