Kibo 360 Trestle Labs Shark Tank India Episode Review
- Website Information
- The brand operates through the website trestlelabs.com, developed on the Webflow platform.
- Actively targeting 37 keywords to achieve around 500 visitors.
- Kibo 360 Trestle Labs Vision
- Kibo 360 Trestle Labs envisions providing an inclusive solution for visually impaired individuals.
- Aims to transform printed, handwritten, and digital text into voice audio across all languages.
- Founders of Kibo 360 Trestle Labs
- Founded by Akshita Sachdeva, Bonny Dave, and Abhishek Baghel.
- Bonny Dave holds a Bachelor’s in Technology from Nirma University, Ahmedabad, with leadership roles and certifications in technological innovations.
- Akshita Sachdeva is a Bachelor of Technology from Manav Rachna College of Engineering, contributing to various organizations and gaining experience in Digital Impact Square.
- Product Portfolio
- Kibo 360 Trestle Labs offers products under four categories: For Institution, Kibo XS, Kibo 360, For Individual.
- Notable products include Kibo Mobile App and Kibo Web Software.
- Business Statistics
- Targets a demographic of over 2 crore visually impaired and affected individuals under 50 years in India.
- Kibo 360 has assisted over 1 lakh individuals, converted 2 million pages into audio format, and collaborated with approximately 600 organizations in about 22 countries.
- Sales projections indicate a significant growth trajectory from ₹22 lakhs (FY 19-20) to a projected ₹5 crores (FY 23-24).
- The company achieved a break-even point in July 2019.
- Shark Tank India Episode
- Appeared on Season 3, Episode 16, aired on February 12, 2024.
- Initially sought ₹60 lakhs for 1% equity.
- Concluded a deal with Sharks Peyush Bansal and Ronnie Screwvala for ₹60 lakhs, securing 6% equity at a valuation of ₹10 crores.
- Investment Guidance from Sharks
- Shark Anupam Mittal praised the founders’ mission and integrity.
- Shark Aman Gupta offered ₹60 lakhs for 4% equity.
- Shark Peyush Bansal proposed ₹60 lakhs for 10% equity but emphasized the need for value addition beyond just financials.
- Final deal: ₹60 lakhs for 6% equity with Sharks Peyush Bansal and Ronnie Screwvala.
- Conclusion
- Kibo 360 Trestle Labs presents a groundbreaking solution for the visually impaired, with commendable traction and a strong vision.
- The founders’ commitment to both the mission and business aspects impressed the Sharks, resulting in a successful deal.
This summary provides a comprehensive overview of Kibo 360 Trestle Labs, its vision, founders, products, business statistics, and the Shark Tank India episode.
| Aspect | Details |
|---|---|
| Website Information | – Website: trestlelabs.com <br> – Platform: Webflow </br> – Targeting 37 keywords for 500 visitors |
| Kibo 360 Trestle Labs Vision | – Inclusive solution for the visually impaired <br/> – Converts printed, handwritten, and digital text into voice audio across all languages |
| Founders | – Akshita Sachdeva, Bonny Dave, Abhishek Baghel <br/> – Bonny Dave: B.Tech from Nirma University, Ahmedabad, with leadership roles and certifications <br/> – Akshita Sachdeva: B.Tech from Manav Rachna College of Engineering, Digital Impact Square experience |
| Product Portfolio | – Four categories: For Institution, Kibo XS, Kibo 360, For Individual <br/> – Notable: Kibo Mobile App, Kibo Web Software |
| Business Statistics | – Targets 2 crore visually impaired individuals under 50 in India <br/> – Assisted 1 lakh individuals, converted 2 million pages, collaborated with 600 organizations <br/> – Sales projections: ₹22 lakhs (FY 19-20) to projected ₹5 crores (FY 23-24) |
| Shark Tank India Episode | – Season 3, Episode 16 (Aired on February 12, 2024) <br/> – Initially sought ₹60 lakhs for 1% equity <br/> – Final deal: ₹60 lakhs for 6% equity with Sharks Peyush Bansal and Ronnie Screwvala at a valuation of ₹10 crores |
| Investment Guidance from Sharks | – Shark Anupam Mittal praised mission and integrity <br/> – Shark Aman Gupta offered ₹60 lakhs for 4% equity <br/> – Shark Peyush Bansal proposed ₹60 lakhs for 10% equity, emphasized value addition <br/> – Final deal: ₹60 lakhs for 6% equity with Sharks Peyush Bansal and Ronnie Screwvala |
| Conclusion | – Presents groundbreaking solution for the visually impaired <br/> – Strong traction and vision impressed the Sharks, resulting in a successful deal |
Kibo 360 Trestle Labs Vision
1. Business Overview:
Objective: Kibo 360 Trestle Labs aims to empower visually impaired individuals by transforming printed, handwritten, and digital text into voice audio, fostering inclusivity across all languages.
2. Business Statistics:
Demographic Target:
- Targets over 2 crore visually impaired individuals under 50 years in India.
Past Achievements:
- Assisted over 1 lakh individuals.
- Converted 2 million pages into audio format.
- Collaborated with approximately 600 organizations in about 22 countries.
Financial Growth:
- Sales projections indicate growth from ₹22 lakhs (FY 19-20) to a projected ₹5 crores (FY 23-24).
- Achieved break-even in July 2019.
3. Total Addressable Market (TAM):
Indian Market Potential:
- According to the World Health Organization, India has a significant visually impaired population.
- Total Addressable Market estimated to be over 2 crore individuals.
4. Ideal Target Audience and Demographics:
Primary Audience:
- Visually impaired individuals under 50 years.
Demographics:
- Age: Below 50 years.
- Geographic: Nationwide.
- Occupation: Students, professionals, and anyone with visual impairments.
5. Marketing Strategy:
Brand Positioning:
- Position Kibo 360 Trestle Labs as the go-to solution for inclusive audio content.
Channels:
- Collaborate with NGOs, schools, and government institutions for awareness.
- Leverage social media platforms for targeted campaigns.
Partnerships:
- Forge partnerships with educational institutions, creating a sustainable pipeline.
6. Content and Digital Marketing Strategy:
Content:
- Create engaging content highlighting success stories, testimonials, and the impact on education and employment.
Digital Marketing:
- Utilize SEO and targeted online ads to reach the visually impaired community.
- Leverage influencers within the visually impaired community for authentic promotion.
7. Distribution Strategy:
Collaborations:
- Partner with assistive technology providers, schools, and NGOs.
- Utilize online platforms and mobile applications for wider accessibility.
8. Advantages:
Innovation:
- Unique technology to cater to the visually impaired, setting Kibo 360 apart.
Social Impact:
- Addressing a critical need for inclusivity in education and employment.
9. Challenges:
Awareness:
- Limited awareness about assistive technologies among the target demographic.
Technology Adoption:
- Resistance to new technologies among traditional institutions.
10. Reasons for Success:
Market Demand:
- High demand for inclusive solutions in education and employment.
Early Achievements:
- Proven success with over 1 lakh assisted individuals.
11. Mitigation Strategies:
Awareness Campaigns:
- Conduct extensive awareness campaigns targeting institutions and individuals.
User Training:
- Develop training programs to ease the adoption of the technology.
12. Future Business:
Expansion:
- Expand into international markets with a focus on countries with similar demographics and needs.
Product Diversification:
- Develop additional features, such as language options and enhanced user interfaces.
13. Roadmap to Increase Valuation:
Research and Development:
- Invest in R&D to stay ahead in assistive technology.
Strategic Partnerships:
- Form strategic partnerships with global organizations for knowledge exchange.
Market Penetration:
- Penetrate untapped markets within India through targeted marketing.
User Base Growth:
- Increase user base through continuous product improvements and accessibility enhancements.
Brand Recognition:
- Establish Kibo 360 Trestle Labs as a household name synonymous with inclusivity.
Kibo 360 Trestle Labs aspires to revolutionize accessibility and empower visually impaired individuals, achieving significant growth and impact on a global scale.
