Pitch Introduction
LOKA Shark Tank pitch introduced India to its first real-time metaverse social app. Krishna Sundar Rajan walked into the tank asking ₹40 lakhs for 5% equity, valuing LOKA at ₹8 crore. His vision: let friends across cities meet inside hyper-real Delhi maps, sip cutting chai and dance at Connaught Place without leaving their homes.
Business Overview
Product/Service: LOKA is a mobile metaverse platform that re-creates real Indian cities in 3-D. Users pick avatars, roam the map, voice-chat with strangers and join interactive zones like an MP theatre, gaming parlour or Central-Park style hang-out. Problem It Solves: young Indians want deeper, location-flavoured social interaction beyond static video calls and 2-D reels. Unique Selling Proposition: first Indian app to drop hyper-local landmarks into a shared virtual world built on Unreal Engine.
| Company | LOKA World Pvt. Ltd. |
|---|---|
| Founded | 2020 |
| Headquarter | New Delhi |
| Founder | Krishna Sundar Rajan |
| Platform | Android (Unreal Engine) |
| Ask on Show | ₹40 L for 5% |
About Founder’s
Krishna hails from Delhi, completed B.Tech in 2012 and an Android-development boot-camp. In 2015 he tried food-tech start-up Baba, which closed after on-ground delivery challenges. He used that failure to learn three lessons—always validate with data, hire tech talent, and keep burn tiny while iterating fast.
- First-time solo founder on national TV
- Self-taught Unreal level-designer
- Bootstrapped prototypes until Shark Tank
- Built 12-plus versions before live demo
- Holds no patents, relies on trade secret
Shark’s and Founder’s QnA
Krishna, what exactly is LOKA?
I said it is India’s first metaverse app providing real-time, real-world experience via third-party apps. You pick an avatar and enter a photoreal Connaught Place map where you can walk, voice-chat, dance and attend events.
How is this different from Zoom or Clubhouse?
I explained Zoom boxes hide body language; in LOKA you know Aman sir is standing left of the fountain and you can wave or throw virtual colours.
Isn’t this just a game?
I answered we are 12-plus rated, no weapons, focus on social. Events inside can be stand-up, music launch or college farewell.
Show me the money path, Krishna.
I revealed three: in-app avatar skins, branded virtual billboards, paid hosted events. Once footfall crosses 1 million MAU we will open ticketing.
Why will brands choose LOKA over Fortnite or Instagram Live?
I admitted Fortnite already hosts concerts, but they pay crores. LOKA gives early-mover access to urban Indian youth at fraction cost.
Any users yet?
I said beta on Play Store with 25 thousand downloads; average session 14 minutes. Revenue still zero.
You valued at ₹8 crore with no revenue?
I justified it on tech stack, 3-D art, IP and future event licensing deals.
What will ₹40 lakhs do?
I broke it: 40% server infra, 25% hiring, 20% marketing, 15% legal.
Vineeta: Are you competing with my investment in Stage metaverse?
I clarified Stage is events-only, LOKA is 24×7 hang-out layer.
Namita: Content-moderation risk?
I said live audio runs through AWS Transcribe, keyword filter plus user reporting.
Anupam: Why should I believe you won’t repeat Baba closure?
I admitted earlier I chased investor advice blindly; now I follow data and keep runway long.
Final counters—Aman wanted 40 L for 25%, I stuck at 24%. Did it close?
Yes, Anupam, Aman & Peyush together took 24% for full ₹40 lakhs at ₹1.67 Cr post-money.
Key Stats & Financials
At filming date LOKA carried zero revenue, burn around ₹1.5 L a month, mostly cloud & part-time coders. Valuation dropped from ₹8 Cr ask to ₹1.67 Cr closing, giving Sharks 24% combined.
- Sales: ₹0 (pre-revenue)
- Margins: Not applicable yet
- Valuation: closed at ₹1.67 Cr
- Investment Request: ₹40 L for 5%
- Use of Funds: 40% infra, 25% hiring, 20% marketing, 15% legal
| Metric | Amount |
|---|---|
| Monthly Burn | ₹1.5 L |
| Cash in Bank (pre-Tank) | ₹6 L |
| Post-deal runway | ≈ 24 months |
| Play Store beta downloads | 25 k |
| Session length (median) | 14 min |
Business Potential and TAM
Metaverse social market in India expected to hit $8 B by 2030, driven by 5G, cheaper AR-VR headsets and creator economy. LOKA’s city-first approach grabs the 15–30 urban cohort who already spend Rs 2,000 yearly on mobile games and skins. Global parallels—Roblox, Zepeto—prove virtual goods can drive >70% gross margin once scale is achieved.
- 5G rollout boosts real-time rendering
- College fests crave hybrid venues
- Brands need Gen-Z attention beyond Instagram
- In-app NFTs can add royalty streams
LOKA: Ideal Target Audience & Demographics
| Demographic | Details |
|---|---|
| Age | 15–30 |
| Cities | Metro & Tier-1 |
| Spend/mo | ₹500 on entertainment |
| Tech comfort | Android heavy |
| Content pref | Bollywood, gaming, stand-up |
Marketing and Distribution Strategy
Krishna plans influencer city-tours, drop digital “meet-ups” mirroring real festivals like Delhi Comic-Con. Affiliate links with colleges for freshers’ parties, plus Instagram reels showing funny avatar dance to pull organic installs. Future roadmap: launch Mumbai & Bangalore maps, pilot branded pavilions for fashion drops, integrate UPI micro-payments for tipping creators.
- In-city college ambassador program
- Instagram filter collabs for avatar try-ons
- Tie-ups with music labels for first-listen events
- Annual meta-fest ticketed passes
- API for ed-tech campuses to host virtual labs
LOKA Deal Outcome
All five Sharks listened, Namita & Vineeta stepped out citing unclear monetisation. Anupam, Aman & Peyush pooled ₹40 lakhs for 24% equity combined—one of Season 1’s quickest joint deals.
| Shark | Deal |
|---|---|
| Anupam Mittal | ₹13.33 L, 8% |
| Aman Gupta | ₹13.33 L, 8% |
| Peyush Bansal | ₹13.33 L, 8% |
| Combined valuation | ₹1.67 Cr |
LOKA Post-Show Update
Within six months LOKA crossed 1 lakh downloads, introduced branded store for Reliance T-shirt drop and earned first ₹3 lakh from virtual land lease to an NFT gallery. Server costs remain high but Sharks helped secure ₹1 Cr bridge round at ₹6 Cr valuation. Mumbai map beta rolled out Q3 2022.
Business Analysis & Lessons
Investors rarely pay for pure vision unless defensible tech or traction exists. Krishna’s live demo and candid failure story built trust while realistic post-money valuation allowed Sharks to hedge risk. The biggest takeaway—show, don’t tell; a 30-second avatar dance did more than a 30-slide deck.
- Pre-revenue idea must show sticky engagement metrics
- Accepting valuation haircut can unlock strategic alliances
- Clear monetisation paths ease investor anxiety
- Joint deals spread due-diligence load among Sharks
- Post-show execution defines TV moment value
Pitch Conclusion
LOKA illustrates how early-stage tech founders can still bag cheques by owning niche (“India’s first metaverse social layer”) and demonstrating product instead of promises. Drop your questions about LOKA below; did you download the app after Shark Tank?