- Founders: Krishnan Sunderarajan
- Business: Metaverse App
- Ask: ₹40 lakhs for 5% equity
- Valuation: ₹8 Crore
- Result: ₹40 lakhs for 24% equity
- Sharks: Anupam Mittal, Aman Gupta and Peyush Bansal
- Episode: Season 1 Episode 12
LOKA Shark Tank India Pitch:
Loka is a metaverse multiplayer gaming app that was featured on Shark Tank India Season 1 Episode 12. Founded by Krishnan Sunderarajan, the app offers a unique blend of real-world locations and experiences to users, encompassing social engagement, gaming, e-commerce, content, and entertainment. Within the game, players can interact with real people, explore detailed virtual renditions of iconic locations like Delhi’s streets and B-Lens, Central Park, and many more. Loka provides users with a rich, immersive experience, bringing various cities’ landmarks to life, from Marine Drive in Mumbai to NG Road in Bangalore and T-Nagar in Chennai.
Shark Tank India Negotiations:
Ashneer doesn’t understand the purpose of this and goes out of the deal. Namita follows Ashneer and says she doesn’t understand this technology, so she steps out of the deal. Aman, Peyush, and Anupam give their offer together for ₹40 lakh for 25%. Krishnan comes back with a counter of ₹40 lakh for 20%. Anupam counters at 24%, and the entrepreneur accepts that offer.
Do you think the sharks made the right call by investing in this? Let’s find out!
Here is how LOKA is doing after Shark Tank India:
Our research on Loka revealed that their deal with the Sharks closed, and they are still in business. However, their journey hasn’t been entirely smooth, as IGN reported that Loka is at risk of copyright infringement from Marvel, DC, and a few other popular brands. As of October 2023, their app is available on Google and Microsoft Play stores, but it hasn’t gained the traction everyone expected. Loka founder Krishnan has also started a YouTube channel where he uploads behind-the-scenes information on how the app is being developed.
Image source: Loka Instagram
What do you think the future of this app looks like? Share your thoughts in the comments.
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Here are other companies from Season 1 Episode 12!