Did you google to search what exactly happened to LOKA app Shark Tank India? If you have not watched the entire episode of Shark Tank India for this pitch then this article is for you.
What is LOKA?
LOKA is a mobile gaming app that appeared in Shark Tank India Season 1 Episode 12. Users can interact with the app in real-time. Users can interact with real people through this mobile app.
The third wave of COVID-19 in India has trapped people again in their own homes with flashbacks to the maddening lockdown of 2020, but this time we have something new to deal with our boredom. It is the Metaverse. “India’s first gamified Metaverse app” has been developed by Krishna Sunderarajan called LOKA for Android and iOS. The app gives players a real-world experience in real-time with the help of third-party apps. This app got a lot of popularity after it aired on Shark Tank India recently.
How Does it Work?
With his determination and novel concept, Krishnan Sunderarajan came up with a smart idea for Shark Tank India, Episode 12. Technology, which can be both a boon and a bane, was the problem statement he presented. While connecting people, it has also disconnected us from each other.
Loka gives its users a real-time, real-world experience through third-party applications. Loka began with a detailed map of CP, Delhi, where users, after selecting their avatar, could roam around and connect with different users, converse with people, and even shop, all while sitting at their desk.
First Metaverse in India?
Metaverse is a massive tech trend that allows people to keep in touch with their loved ones while maintaining social distance. Though the idea is still a bit far-fetched, technology giants like Meta continue to work on it. For beginners who are curious about what a metaverse looks like, the LOKA game is quite fun, but it is still very nascent.
What Offers Did He Get?
Then Aman gave Krishnan another 2 minutes to position his product, and we believe he deserved it. Ashneer was quick to move on since he wasn’t really interested in the whole concept of why people should use the app for a longer period. Namita Thappar decided not to invest because she could not understand the business and technology.
Krishnan took some time and then countered with a counter-offer of Rs. 40 lakh for 20% equity. Anupam, Aman and Piyush seemed interested and made an offer which was, Rs. 40 lakh for a 25% Equity. Krishnan agreed to the best offer of 24% Equity from the trio!