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Shark Tank India 3: Entrepreneurs struggle as AI startups fail to secure deals; Anupam Mittal asks ‘Do you want to become Disney’
In the latest episode of Shark Tank India Season 3, founders of AI startups, failed to secure funding despite a promising pitch. Read to know more!
Shark Tank India Season 3 has been garnering a lot of attention with its exciting episodes, offering entrepreneurs an opportunity to pitch their ideas and secure funding. None of the three AI-driven companies featured in the entire recent episode received a deal from the sharks, including Vineeta Singh, Anupam Mittal, Namita Thapar, Aman Gupta, and Deepinder Goyal.
No deals for AI-driven companies
In the latest episode, the third and final pitch was from the founders of Futr Studio, who faced disappointment as they failed to secure investment from the sharks. It's revealed that Aman Gupta has previously worked with them.
Himanshu Goel and George Tharian are the co-founders of India's first virtual human company. They asked for Rs 1 crore for a 2.5 percent equity stake. The Sharks then learned more about their business and saw a demo of the virtual influencer.
Feedback and insights from Sharks
Vineeta said, "This doesn't seem as realistic as the international virtual influencers." The founders further explained that Kyra is a digital asset that can be used in VR gaming and similar applications. Aman asked if its novelty would diminish over time. 
The pitchers stated, “We will keep creating IPs for Kyra, e.g., a virtual Sima Aunty for shaadi.com.” Anupam Mittal asked if they wanted to become Disney in the future, saying, “Do you want to become the Disney of the future? Disney wrote their business plan on a paper napkin. What is written on your paper napkin?”
The pitchers mentioned, “The possibilities are endless. If we tell you, you will say ‘kya fek raha hai’.” Anupam responded, "No, I want to hear. If you don't clarify your vision for us, then who will?" To which the pitcher replied, “We want to build autonomous virtual humans – computer-generated characters with AI that can act and think independently in virtual worlds.”
Namita said while opting out, “You have so many visions, but the basic, which is to build the personality of Kyra, you haven’t developed that.” Aman Gupta suggested, “You need a solid tech co-founder to make it a solid business.”
Leaving without a deal
Deepinder, Vineeta, and Anupam also shared their insights on how to make the business profitable and move it forward. Despite receiving valuable feedback and insights from the sharks on how to refine their business model and strategy, Futr Studio eventually left the show without a deal.
Other two brands includes, Melooha, an astrology app that mentioned Indians are most interested in Cricket, Bollywood, and Astrology. They also surprised the judges by claiming that astrology is a huge market in India, worth over Rs 3 lakh crore. Kiko Live is a digital platform for local shops, helping sellers in establishing their digital shops and increasing their visibility on the ONDC platform.
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