AI Kavach’s Shark Tank India Success, Securing Funding to Combat Online Fraud in India

AI Kavach is a company in India that is focused on protecting people from online fraud. Kavach provides digital security and fraud protection solutions using artificial intelligence (AI) and blockchain technology. Their services help protect students, working professionals, seniors, and parents from online shopping scams and fraud. Last year, online fraud cost India over 1000 Crores. The founders of AI Kavach, Pratyusha Vemuri and Girish Nagavarapu, have 18 years of experience in network security. Kavach also reports any fraud that it detects on websites. Kavach operates in several different markets and sectors. They provide services directly to consumers (B2C), to other businesses (B2B), and through SaaS model.

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Pratyusha Vemuri, the founder and primary architect of AI Kavach, is well-qualified to lead the company’s development due to her strong educational background in electronic and telecommunication engineering, including a BTech from JNTU Hyderabad and an MS from the University of Toledo, as well as her extensive professional experience in technical roles at companies like Harbinger Systems and Persistent Systems, and as a Senior Program Manager at Microsoft India, where she oversaw the development of enterprise products.

Intervue has streamlined the technical interview process and integrated with various other platforms like Calendly, Notion, Recruitee, and Greenhouse. By using Intervue, businesses have seen a reduction in the average time to fill a position, from 45 days to 7 days. Typically, 7 out of 10 recommended candidates are hired by the businesses. Intervue has over 100 businesses using their platform, and they conduct more than 500 interviews every day. The platform is claimed to be the fastest online programming environment in the world, and it also helps prevent cheating during the interview process. Interviewers working with Intervue can earn between ₹60,000 and ₹70,000 per month, and they get paid immediately for conducting interviews.

Pratyusha, the founder of a startup AI Kavach, appeared on the TV show Shark Tank India Season 3. She pitched her company’s AI-powered solution that can detect fraudulent activities and provide real-time alerts. At the time, AI Kavach was just 2 months old, but it had already gained 20,000 downloads and 1,500 paid subscribers. Pratyusha asked the sharks for INR 50 lakhs  in exchange for 1.25% equity in her company, valuing it at INR 40 crores. During the pitch, the sharks asked Pratyusha some questions. Radhika Gupta wanted to know the specific problems that AI Kavach solves. Aman Gupta questioned why the company wasn’t focusing on the US market. Vineeta Singh asked how AI Kavach would compete with large tech companies like Microsoft and Google. After addressing the sharks’ concerns and questions, Pratyusha was able to secure a deal. She received INR 1 crore from Aman Gupta and Peyush Bansal in exchange for 2.5% equity and 2.5% advisory equity, at a valuation of INR 40 crores.

Kavach has not secured any funding rounds as of yet.

Kavach has a total of 203 competitors, and it ranks 128th among them. 33 of its competitors have received funding, while 27 have been acquired or gone public. The entire competition set, including Kavach and its competitors, has raised over 1.57 billion in funding across 147 funding rounds, involving 269 investors. There are 2 private companies valued at 1 billion (unicorns), 3 public companies, and 24 companies that have been acquired in this industry.

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Aspiring entrepreneurs from across India come to Shark Tank India to present their innovative ideas and business models, hoping to secure the investment needed to take their startups to the next level.