AI Kavach is a startup in India focused on protecting people from online fraud, which cost the country over 1000 Crores last year. The founders, Pratyusha Vemuri and Girish Nagavarapu, with 18 years of experience in network security, offer an AI-based solution for individuals and businesses, addressing identity fraud, brand misuse, and phishing. You can also enrol in the Alippo online courses for women if you want to initiate your home-based startup.
Pratyusha pitched AI Kavach on Shark Tank India Season 3, highlighting its AI-powered solution that detects fraudulent activities and provides real-time alerts. The startup, just two months old at the time, had 20,000 downloads and 1500 paid subscribers. Pratyusha sought INR 50 lakhs for 1.25% equity at a valuation of INR 40 crores.
|₹50 lakhs for 1.25 % equity
|₹ 1 crore for 2.5 % equity
All About the Pitch
During the pitch, Radhika Gupta inquired about the specific problems AI Kavach solves, Aman Gupta questioned why they weren't focusing on the US market, and Vineeta Singh wanted to know how they would compete with tech giants like Microsoft and Google.
After addressing concerns and questions, Pratyusha secured a deal with Aman Gupta and Peyush Bansal, receiving INR 1 Crore for 2.5% equity and 2.5% Advisory Equity at a valuation of 40 Crores.
Takeaways from the Pitch
Here are the skills present in the founder's pitch:
Adaptability: Pratyusha showcased adaptability by tailoring her responses to each Shark's specific questions and concerns. This ability to adjust the pitch based on the audience is crucial in real-world business interactions.
Market Awareness: The founder displayed a keen understanding of the market by explaining the relevance of AI Kavach in the context of increasing online fraud in India. Awareness of market trends and challenges is vital for positioning a startup effectively.
Confidence in Product: Pratyusha exuded confidence in her product, emphasizing its AI-powered, patented, and award-winning nature. Confidence in the product not only instils trust in potential investors but also in customers, making it a key skill in the startup ecosystem.
Clarity & Resilience: Pratyusha effectively communicated the purpose of AI Kavach and the problems it solves. She confidently addressed questions and concerns from the Sharks, showing resilience in handling queries.
Negotiation: Pratyusha negotiated a deal with two investors, combining their offers for a mutually beneficial agreement. This is a necessary skill for entrepreneurs and their success.