Hello Sharks! Hello! My name is Srijan Mehrotra and I am 25 years old.
I am currently completing my MBA from IM Cozy Coday. And today I have come to you to ask for 25 lakhs for 10% equity. Wow! Today, despite having high quality products, more than 80% of Indian businesses are not able to launch their products in the market.
Why? Because the high quality images of those products are not produced exactly in the market. Existing way is very expensive and time-taking. So if you want to sell your product in the market or sell a garment, then first of all you have to go to a modeling agency.
They will hire a model, then hire a photographer, then take it to a location and you get the final image in 30-45 days. Plus, its cost is 3.5-4 lakhs. So if by mistake your product unfortunately goes to the market, So this is only your loss, not the agencies. So this problem is solved by Modelverse.
Modelverse is an advanced artificial intelligence platform which basically places your garments on hyper-realistic AI human models. Plus, the most important thing, any hairstyle, any skin tone, any ethnicity, plus you can produce any color in it. And the biggest thing, at a 90% less price.
Only Rs. 4.35 per image. Today, we are surrounded by AI. Whether you want to generate tax in the content industry via chat GPT, or you want to dub your voice in the voiceover industry with AI voices.
But, there is still a revolution in the cataloging industry. Modelverse has started a movement, which basically empowers Indian businesses. To produce high quality images in less money. So Sharks, from next time, for your modeling needs, No Miss India, No Miss Universe, Only Modelverse. Where did you get the idea for Modelverse?
I grew up in Muradabad. So I prepared for the J-Mans of 9th, 10th, 11th, 12th. But I wasn't clear on how it would upgrade me for my future plans.
I basically didn't understand this. that I wanted to start a career in artificial intelligence. So I couldn't understand how I could connect my vision.
You were excited about artificial intelligence since then? Yes. How did you get interested in artificial intelligence? Basically, when I first heard about recommendations on YouTube, That's when I started learning algorithms.
Tell me, what are you doing with IIM? Master of Business Administration. Why?
I needed networking. This institute provides you with a very good networking. If I need it, I don't need to pay a high price to reach out to these executives. So you're studying there?
Yes. You do coding yourself? Yes.
You still do it? Yes. I build all of these things.
That too in PyTorch. Got it. Thank you.
I want to show you some samples. Yes, show us the samples. Show us.
This is the model verse of Seher Karai. These basically don't exist. And these are multi-ethnic models. Wearing a sari. But you must have to take photos of these saris, right?
Basically, yes. You integrate that into existing models. We basically take garments images. Hey, this is an existing Twitter model. No.
That's not it? No. Okay.
That's not Anupam's approach. You can see the backgrounds. These backgrounds are all generated. From shadows to color correction.
It's quite good. It's very cute. The biggest thing is this product.
Right now, no one is making it in India. Globally? Globally, there is only one competitor in the Netherlands who has a valuation of around 700 crores.
And they charge around 1 lakh rupees monthly to the users. But we charge 35 plus. They are in 3D and they have limited models. We basically generate new identity every time.
So, gradually, the vertical chat GPT generative AI solutions that were being made, They are integrated and becoming horizontal. So they are not far away. when you do the exact same thing on ChatGPT.
It's not that far, I took a demo. It's the same. I took the exact same demo. I'll tell you the difference.
The models that you're talking about, we make them in Midjourney too, but we don't have the exact headphones. Then, Midjourney makes their own headphones. They say what they're doing is unconditional generation.
No, that's okay. That's my question. Where is the innovation? If I say that we can't do ChatGPT or OpenAI Obviously, it's a joke. They are 10 times more gorilla than we are today.
But what we have basically made is we have generated a dataset of 10 lakhs in a year and 6 months. By applying loss functions on that dataset, we have created unconditional models of existing models in the market. Big ones like Delhi, Mid Journey.
In comparison, we have created conditional models which can basically come under your conditions. For example, One condition is that I need boat headphones in which my pixels don't decrease. Neither does the boat's B sound come back.
Or the boat's O doesn't cut the boat's stomach. Or A doesn't become my capital. These problems exist. The question is this. On top of this, making a model and rappers...
It's not that big of a deal. Like you did after one year. Similarly, many AI engineers are making models and wrappers. They are making models every week.
Like photo cropping models, photo face recognition models. So I don't think this is such a stretch from that. So what is it that we were talking about IP?
that no one else can do. What is your defensibility? The API work is the easiest work in the world.
To take an API of a company and the result. But you can tweak the parameters in it. You can never tweak the architecture.
So you have made a fundamental model of yourself. Yes, in this we have basically around... 5-8 lakh images were scraped and conditionally generated on the entire model. And the system has been trained? Yes.
And is this a TensorFlow? Yes. It is? Okay. Basically, till now we have...
First of all, let me tell you our limitation. Basically, to generate these models, we need high-end GPUs. Which is basically our limitation.
Because of which, today we are not able to go to our customers, mostly. Then why do you charge Rs. 35? You can charge Rs. 350. Basically, we have to revolutionize this thing and do it for less money. At this point, If you are at a junction and there are no alternatives, you should not skim the market.
Make it a 100x price. Because the alternative, the option, is a cost of lakhs of rupees. If not lakhs, at least tens of thousands. You can charge a lot of money. Skim the market until the prices are low.
Until you don't have 100 clients. Then your GPU cost will be low. Your valuable resource is not money.
These are the things that I need. For example, money can be made again, but time can't be made again. These are the things that we need at this time.
And I know, I don't have this time. And it will take time to build it. But as a shark, when you enter our business, the time can be reduced by 10x.
How much money have you raised? We haven't raised a single penny from the market. How many AI engineers do you have?
We have a team of five people. How did you hire them without raising money? We keep them on contractual roles for a minimum price.
Because the amount of money I have... Not full-time, but on a contractual basis. So you're saying that what no one in the world has done, which is a requirement for everyone, to use images for catalogues, and for advertising, you did that with 5 contractual engineers in the last year.
Is that what you're claiming? That's right. Basically, we did it with 5 contractual engineers. And I was mostly involved in it because I had a vision.
Basically, like, it's all about maintenance. Yeah, basically. Basically, you know, 48 times I've said it.
Now, this time, no basically. You said it once. Advanced.
It's 2.4 lakhs. I know it's not much. When did you start? We launched it in March.
From March till now... 2.5 lakhs in 6 months. Yes. Tell me one thing.
Are you in a position to do it? No. Then what do you do? There's a big reason behind it.
What happened? Are you okay? It's okay bro.
Take some water, it's back there. Please. I used to be very close to my grandfather.
Oh, okay. So basically, in 2014, he was my best friend. I used to share everything about the world. What's the matter?
You can't connect so much with your friends when you have so many friends in your family. What's the matter? That's right.
Then in 2014, he got a paralytic attack. Suddenly, that bond broke. So if I basically...
If I said anything to him, he wouldn't respond. Sorry. Ugh.
It's hard. Before that, my grandfather told me one thing. That your job will change your food, your clothes, but it can never change your life. You have to become a job giver for that. That was his end point.
He lost his focus in 2020. Sorry. Kedab. So, that was the reason I am here today. So, you won't do a job.
You are saying that you will run this or do anything. Yes. Can't you finance the family? I have been spending money on them since childhood.
Basically, I have never... But you can't do this later. You have to do it now.
The timing is right. Can you tell us what your vision is for the next 3-5 years? Basically, I am a...
I want to create an AI image generation platform where basically any user can generate a hyper-realistic model for any image or clothing. So, we want to go live with the infrastructure we have created so far. We will acquire users and in one year, we will complete a revenue of Rs. 13 crores by acquiring users and we will charge them on a per month basis. How much will a GPU cost for Rs. 30 crores in one year?
Around Rs. 13 crores. For one year, the GPU will cost you around If you take spot instances, which is a shared GP, you get Rs. 15,000 per month. What you're saying is not a game worth 25 lakhs, it's a game worth 5-10 crores.
Why did you ask for 25 lakhs? Basically, like, my runway is over today. How much money do you have left in your pocket? I don't have any money left in my pocket to put in the company.
Personally, how much money do you have? I don't have any money left. I have kept around last 50,000 for emergency. Let me tell you why I'm basically raising 25 lakhs.
When we had just launched the product, we had a sudden increase of 1000 users. And the cost of the GPU went up in one night. The reason is that I couldn't optimize the cost at that time.
And that's why I'm basically racing here to launch the platform. And I'm guaranteeing it here. And it will be done in 25 lakhs? Absolutely done. So you're saying that...
What guarantee are you doing? That in 25 lakhs, the moment we launch the platform, we'll complete the revenue of 13 crores from these 25 lakhs in a year. And how much profit will you make from the 13 crores revenue? It's difficult.
Profit is difficult. No. This is the main thing.
If we have to spend a year for compute power, at least we get the runway. So we can produce unlimited images in that. And in 25 lakhs, we will get that?
Yes. Let's say I run a D2C brand. And I sell clothes, like coats, pants, etc.
So I send you my photos. Yes. And I'll tell you to send it to their models. Yes. Is this their use case?
Yes or no? Yes. And is there any human intervention in this?
No, zero. There's nothing? No, you don't need a freelance editor, nor do you need any Photoshop expert, you don't need anything. If this is there, then it's a very good product, it can scale a lot. And hands-on, you can plug in my coder, I do coding myself today too, so it will be fun to work with, we can make something big in it.
So I'll give you an offer. 25 lakhs. 10% that you asked for.
Would love to collaborate and build something large. Thank you. Look, I think there are two things. I think I understand this space.
We have done a lot of work. And we are a client as well. We need it. So our consumption can be 30, 40, 50, 60 thousand images a day. Yes.
As a client. Right? We can give that type of scale.
I think a business needs a founder. But we can cross that. line later. Along with that, I think Ritesh also has a lot of demand. I would like to add something.
We have a big shareholder, Microsoft. Yes. And Microsoft, you know, is very interested in AI.
And their interest in giving compute is more for new innovative companies. We will introduce you to them at a senior level, so that you get more support. So, Anupam and I will...
We will combine and give you an offer. Whatever you asked for, 25 lakhs for 10%. Pritesh and me will come and we will be clients as well. I have one more additional request, Anupam.
If you are okay with it, I would like to support you, Anupam and Amitbhai, together. If... Both of us are friends.
Okay. Like, you or Namita? I'm out of this. Unfortunately, I'll tell you. I'm glad you got the offer.
And I hope you crack it. I hope your dream comes true. I hope you make your grandfather proud. My grandfather was my favourite too. And you got the offer and they'll help you.
So, I'm out. But if the software is good, I'll give you the business. We have a client.
Namita? I think same thing. I will definitely become your customer. But honestly, the sharks you've met, they have expertise in this. They'll be much better partners for you than I can.
And for that reason, I'm out. No problem. So, you have an offer of 25 lakh rupees for 10%. It will be a combined deal with Anupam, me and Amit.
And GPU included. Bro, you don't have money to spend. You got the deal you asked for.
You don't have to spend next month. You can put conditions along with it. No problem. Actually, he said it.
He will do it. He will introduce you there. Don't put conditions on him. So, basically, the deal is final.
Okay. Very nice, sir. Thank you so much.
Tato sir will be proud wherever he is. Do something, man. Let's name India as AR Landscape. Thank you so much, sir. Don, I will be proud.
If you ask for money, you'll get a good house. But it's cheap. Bellis in anna I thought that there are so many people who are going around who are going to put rappers, open APIs and make models.
I forgot to say that there is a shareholder in paper content too. In this, a business model is not made at the end of the day. But when I talked to Jesse, I realized that he is hands on.
He knows. He has the idea. He has the knowledge of his business. Fantastic.
If there is no other deal, I would say that you should be an acquihire. Piyush's role. That is Piyush's role.