Modelverse Presentation Notes

Speaker Introduction

• Name: Srijan Mehrotra
• Age: 25
• Education: MBA from IM Cozy Coday
• Pitch: Seeking 25 lakhs for 10% equity in his startup, Modelverse.

Problem Statement

• Market Gap: 80% of Indian businesses struggle to launch high-quality product images.
• Current Process:
  • Involves hiring a modeling agency:
    • Hire models and photographers.
    • Location shoots take 30-45 days.
    • Costs between 3.5 to 4 lakhs.
• Result: High costs lead to loss of opportunity for businesses.

Solution: Modelverse

• Description:
  • An AI platform generating hyper-realistic images of garments on virtual models.
  • Customizes models with various hairstyles, skin tones, and ethnicities.
  • Cost-effective: Only Rs. 4.35 per image (90% less than traditional methods).
• Advantage:
  • Empower Indian businesses to produce quality images affordably.

Market Context

• Increased reliance on AI in various industries (e.g., content creation, voiceovers).
• Modelverse aims to revolutionize the cataloging industry.

Background

• Personal Experience:
  • Grew up in Muradabad, faced challenges in connecting education with career aspirations.
  • Developed interest in AI through learning algorithms (initially from YouTube).
• Education Intent:
  • Pursuing MBA for networking opportunities.

Technical Aspects

• Own Coding Skills:
  • Developed the platform using PyTorch.
• Model Samples:
  • Showcases virtual models wearing saris (multi-ethnic representation).
• Competitors:
  • One major global competitor in the Netherlands with a valuation of 700 crores.
  • Modelverse offers more affordable rates and unique capabilities.

Business Model & Financials

• Revenue Projection:
  • Targeting Rs. 13 crores in one year after user acquisition.
• Current Financials:
  • Launched in March, generated 2.5 lakhs in 6 months.
• Funding Need:
  • Seeking 25 lakhs to launch the platform, covering GPU costs and other expenses.

Vision & Future Plans

• Long-term Goal:
  • Establish an AI image generation platform allowing users to create hyper-realistic models.
• Challenges:
  • Need high-end GPUs for processing and model generation.

Pitch Response

• Initial Offers:
  • Sharks express interest in collaboration.
• Final Offer:
  • 25 lakhs for 10% equity from multiple sharks (combined expertise and support).
• Conclusion:
  • Srijan aims to honor his grandfather’s legacy through his entrepreneurial journey.