Categories: Shark Tank

LOKA has raised INR 40 lakhs from Shark Tank India

MYSU company’s LOKA app has raised INR 40 lakhs for 24% of the equity from Shark Tank India. Lenskart founder Peyush Bansal, Shaadi.com & People Group founder Anupam Mittal and Aman Gupta of boAt invested in this startup.

The metaverse is a massive digital trend that allows people to stay in touch with friends and family while preserving social distance. However, the concept is still a long way off, and tech organization like Meta are working on it. The LOKA game is fun for beginners who want to see what the metaverse looks like, although the concept is still in its process.

Initially, the shark tank India startup founder asked for INR 40 lakhs for 5% of the equity. Still, Lenskart founder Peyush Bansal, Shaadi.com & People Group founder Anupam Mittal and Aman Gupta of boAt countered it and offered INR 40 lakhs for 25% of the equity. After some negotiations, the deal was finally done at INR 40 lakhs for 24% of the equity.

About LOKA

LOKA, developed by Krishnan Sundararajan, is “India’s first Metaverse gamified app” for Android and iOS users. With the support of third-party apps, the app provides gamers with real-time real-world experience. The Google Play Store version is 104MB in size. According to the teaser on the official website, the game takes place in Cannaught Place, Delhi. According to the sample, users can log in to the app using their Facebook or Google account and select an avatar. Players will then wander about the location and meet new people while sitting at home. Because CP is a marketplace, players can open their apps and shop by tapping on the shops. Amazon, Nykaa, and others are examples.

Problem Solved By LOKA

“I am the founder of India’s first  Metaverse- LOKA,” Sundararajan said in a statement. The app creates gamified 3D versions of real cities and locations such as Connaught Place in Delhi, Manhattan in New York, and Oxford Street in London, where real people can participate in simultaneous and real-time experiences powered by 3rd Party Apps such as Amazon, Netflix, Deliveroo, Miniclip, and others. We’re also interested in re-creating a place’s or city’s mood, vibe, and tradition by using contextually relevant and culturally applicable aspects.”

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