How Metaverse Platform Cloudworx Captured Investor Attention on Shark Tank India

Cloudworx is a no-code Software-as-a-Service (SaaS) platform designed for creating 3D models of businesses within the metaverse. This tool allows users to manage various aspects of their operations remotely. Additionally, it enables the creation of interactive 3D models for customers, where they can explore and purchase products directly within the model itself. The platform is currently being utilized by government agencies in Finland and Spain, along with several clients across Europe and India.

Click here to visit their official website: Cloudworx

The company is seeking an investment of ₹40 lakh in exchange for 2% equity in the business. During a demonstration for potential investors, Cloudworx converted all machines and objects into 3D models of one of Namita’s factories, showcasing a heat map of the facility. It also provides the capability to remotely control machines by turning them on or off.

The pricing for their software ranges from 5,000to10,000 per month, which translates to approximately ₹4-8 lakhs in India. To get started with Cloudworx, users begin by adding data elements, followed by designing 2D and 3D visuals. The next step involves building app workflows, which can then be refined and linked together. Cloudworx also simplifies the application publishing process, allowing users to deploy their apps on 18 platforms with just one click.

Launched in January 2021, Cloudworx has achieved lifetime sales of ₹1.45 crores and reported sales of ₹14 lakh in the last month alone. They are experiencing a month-on-month growth rate of 25%, with a typical sales cycle lasting about two months. Previously, in May 2020, they raised ₹71 lakh at a valuation of ₹8 crores. The founder has indicated that they are currently raising funds at a valuation of ₹12.18 crores.

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Yuvraj Tomar is the founder of Cloudworx. He completed his studies at Punjab University in Chandigarh, graduating in 2011. Before starting his own business in 2019, he gained experience working for major companies like Google and Cisco.

Vineeta decided to step away from the deal because she felt she wouldn’t be able to contribute anything valuable to the team. Similarly, Amit also left the deal since he didn’t fully grasp the innovative ideas behind the business. Aman made a suggestion for the company to focus on the consumer metaverse, which involves virtual spaces for customers, but he chose not to invest himself.

Meanwhile, Namita and Anupam teamed up to propose an investment of ₹40 lakh (4 million rupees) for a 5% ownership stake in the company. Yuvraj pointed out that he couldn’t accept a valuation lower than ₹12.18 Crore (121.8 million rupees) because that would activate an Anti-Dilution Clause, which protects his investment from losing value. Instead, he offered to invest ₹40 lakh for a 3.2% share of the company. The other investors agreed to his counteroffer, and they all shook hands to finalize the deal.

Our investigation into the company showed that their deal on Shark Tank India with Namita and Anupam was finalized after the show aired. Shark Namita Thapar mentioned that they reconvened about a year after the pitch to go over strategies, and Cloudworx experienced impressive growth of five times in just the first year of their partnership. The company ended the fiscal year 2022-2023 with revenues of ₹1.5 Crores, and they project a revenue of ₹12.5 Crores for the fiscal year 2023-2024.

Shark Tank India presents a vibrant platform for aspiring entrepreneurs to pitch their ideas to influential investors, seeking the support and resources necessary to grow their businesses.