Cloudworx Shark Tank Pitch:
Cloudworx is a No-code Software-as-a-Service (SaaS) Enterprise Metaverse Platform which can help you make a 3D model of your business. it would also help you control all aspects of this remotely. you can also make a 3D model for your consumer where people can explore your products and purchase them from the same model as well. Their software is being used by Finnish government & Spanish government in addition to some European and Indian clients. The company sought investment of ₹40 lakh for 2% of the company.
In a Demo for Sharks, Cloudworx converts all the machines and objects into 3D models of one of Namita’s factories and gives a heat map of the entire factory. It also allows the person to turn on/off the machines remotely. Their software costs between $5000-$10,000 a month which is between ₹4-8 Lakhs in Indian currency. Step 1 to use Cloudworx is to add data Element, This is followed by Creating 2D & 3D look and face. Step 3 is to build App workflows which can be followed by fine tuning and linking all the pages. Cloudworx also supports publishing the application in 1 click on 18 platforms.
They launched in January 2021 and their lifetime sales are at ₹1.45 Crores. Cloudworx has done ₹14 lakh in the last month in sales. Their month-on-month growth is at 25%. it takes 2 months to complete the sales cycle. They raised money in May 2020 where they raised ₹71 lakhs at ₹8 Crore valuation. Founder shared that they are raising the current round at ₹12.18 Crores.
Cloudworx Shark Tank Negotiations & Funding:
Vineeta goes out of the deal because she couldn’t add value to the team. Amit didn’t understand the innovation therefore he went out of the deal as well. Aman suggested that the company should be focusing on the consumer metaverse but he didn’t invest. Namita and Anupam come together to offer ₹40 lakh at 5%. Yuvraj added that he couldn’t go below ₹12.18 Crore valuation because that would trigger Anti-Dilution Clause. Therefore he counters at ₹40 Lakhs for 3.2% which sharks accepted and they shake hands on that.
Who is the founder of Cloudworx?
Yuvraj Tomar founded Cloudworx. He studied at Punjab University, Chandigarh where he graduated in 2011. He worked in Google and Cisco before incorporating this venture in 2019.
How is Cloudworx doing After Shark Tank India?
Our research in the company revealed that their Shark Tank India Deal with Namita & Anupam Closed after the show. Shark Namita Thapar Shared that they met after about the year of their pitch to discuss strategy and Cloudworx had a growth of 5X just in the first year after their collaboration. The company closed the FY22-23 at ₹1.5 Crores and their projected revenue for FY23-24 are at ₹12.5 Crores.
Source: Instagram @cloudworx.ai
Here are other companies from Season 2 Episode 28.
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