Indian Startup AI Cloudworx Invest Funds on Shark Tank India

AI Cloudworx Invest funds on Shark Tank India assist in creating 3D models without the need for prior coding experience. In 2019, their invention was already granted a patent.

Writing computer programmes in a predefined language is essentially what coding is. A user may now create a working 3D model without having to learn how to code, according to the startup Cloudworx.

According to a Gartner poll, 75% of businesses want to adopt digital twins (3D models) but only 13% have done so thus far. The remaining 62% have it on their roadmap but find it difficult to implement or lack the direct skill set in the team to do so, according to Cloudworx.

You can check which machine in your factory is using more energy without physically getting there. Heat mapping technology, which involves tracking the object’s temperature is used to do this. The supervisor can determine which location has the most employees crowded together and even employees can be tracked by body temperature stamps, according to Cloudworx creator Yuvraj Tomar who was also included in the first Forbes Asia 30 under 30 list in 2016.

Since any employee can scan a code and access the digital 3D model of the company store there is no requirement for a web browser, Tomar continued.

The app, according to the founder includes several key phases. First, it links devices, networks, software, people, and processes. Second, allows customers to customise the feel and appearance of their virtual store by importing 3D models. Build 3D workflows without writing any code and finally.

The company which was established in 2020, intends to make metaverse usable and simple to comprehend. Since 2020, the company asserted it had generated 1.5 crores in annual revenues. They reported no revenue from the show as well.

The founder of Cloudworx explained that the company’s sales were poor by saying, “Sales were low because we made the error of originally focusing primarily on the India market where usage is still rising up. We began acquiring customers after we began operating in other nations. Customers from Europe are very adaptable”, according to Tomar.

Shark Namita Discovers a Purpose for the Product

Shark Namita Thapar who oversees Emcure Pharmaceuticals’ 14 facilities was intrigued by the firm after the inventor gave a presentation on how she could utilise it to her advantage.

You oversee 14 factories, and you frequently need to be on-site to check on their output. You won’t need to rely on graphs, dashboards, or charts to make judgements if you use this technology. Your factories may be watched over from anywhere. According to him, every factory function may be physically switched on or off with only one click of the software.

The final agreement was reached with the Emcure executive director and Anupam Mittal for 40 lakhs with 3.2% equity at a valuation of 12.18 crore, following Thapar’s call to “shake the world of MSMEs.” At a valuation of $8 crore, the business has already collected 71 lakhs in a seed round in May 2020.

The Remaining Sharks Decide Not To

Anupam Mittal who is a co-founder of Shaadi.com, asked how the company planned to compete with the world’s largest internet companies and establish a global footprint.

I’m not going after Fortune 500 firms that will only contact major global IT companies for their work. The SMEs and MSMEs that can’t pay the costs of tech behemoths like Microsoft and gaming behemoth Nvidia will be my clients. Microsoft and Nvidia licences will range in price from $1 to $2 million. Why would any client not want to step in if someone in the field is offering the same functionality at a hundredth of the cost? asked Tomar.

Co-founder of CarDekho Amit Jain withdrew from the agreement, alleging that the platform lacks creativity and the products it offers are already on the market. Vineeta Singh, the CEO and co-founder of Sugar Cosmetics, withdrew from the agreement as well.

“For your platform to prosper, it needs two things. Building a worldwide B2B market is necessary, and you should also keep up with any new developments in this industry. There, I won’t be much help”, Singh added.

Co-founder of boAt Aman Gupta declined funding to the firm, advising him to focus more on the abundant potential of the consumer metaverse.