Kibo 360 Trestle Labs Has Raised ₹60 Lakhs From Shark Tank India S3

Kibo 360 Trestle Labs has raised ₹60 lakh for 6% equity from Shark Tank India Season 3. Peyush Bansal and Ronnie Screwvala invested in this startup. Pitchers made an ask of ₹60 lakh for 1% equity. And the deal was done with ₹60 lakh for 6% equity in the company.

Also Read: Get Wyld Card Has Raised ₹75 Lakhs From Shark Tank India S3

About the Kibo 360 Trestle Labs:

Kibo 360 Trestle Labs, featured on Shark Tank India, specializes in converting documents into voice for the visually impaired. Their services extend to multiple Indian and foreign languages, ensuring accessibility for all.

This revolutionary invention is compatible with phones, laptops, and desktops, offering versatility in its use. The business offers free audio downloads of various books through the Kibo App and has curated study syllabi and solutions to enhance the learning experience. Additionally, the solution holds a patent for its business application of Artificial Intelligence technology. 

Trestle Labs has different types of products: For Institutions, Kibo XS, Kibo 360, For Individuals, Kibo Mobile App, and Kibo Web Software.

About the Founders:

The founders of the business are Akshita Sachdeva, Bonny Dave and Abhishek Baghel. Bonny Dave holds a Bachelor of Technology degree from Nirma University, Ahmedabad. Additionally, he has obtained certifications including Stage 2 Innovator: Shell Ideas360 for technology roles with leadership and design and has led initiatives at the Royal Academy of Engineering and Digital Impact Square.

Akshita Sachdeva holds a Bachelor’s degree in Technology from Manav Rachna College of Engineering. She has gained valuable experience through positions at Digital Impact Square and affiliations with organizations such as WEE Fellowship, AISEA Fellow, and AFI-WISE Fellow 2021, as detailed on her profile.

Kibo 360 Trestle Labs Business Statistics:

Solutions have been made available by converting more than 2 million pages into audio format. More than 600 organizations are associated with Kibo 360. Their products are available in approximately 22 countries. Digital services are enabled to provide better translation solutions across 12 file formats and over 100 languages. This business was launched in July 2019.

Their sales were ₹22 lakh in FY 19 -20, ₹28 lakh in FY 20 -21, ₹36 lakh in FY 21 -22, ₹1.35 crore in FY 22 -23 and the projection of the sales for FY 23 – 24 is ₹5 Crore.

Net margin has fluctuated over the years, starting at 5.5% in FY 19-20 and decreasing slightly to 4% in FY 20-21. However, there was a significant decline in FY 21-22, dropping to 7%. The margin further plummeted to 26% in FY 22-23. The projection for FY 23-24 indicates a substantial recovery, with an expected net margin of 30%.

Their Mobile App Subscription Fee for a month is ₹89 and ₹979 for a year. The B2B product pricing for Kibo 360 entails an initial cost of ₹2.5 lakh in the first year, followed by ₹2 lakh annually thereafter. Meanwhile, Kibo XS is priced at ₹99,000 for a one-time payment. The sales split for the product is primarily B2B, accounting for 90% of total sales, while the remaining 10% is attributed to B2C transactions.

The Business Vision of Kibo 360 Trestle Labs:

There are more than 2 crore blind and visually impaired people in India, whose age is less than 50 years. Through Kibo 360, more than 1 lakh people have been helped to uplift their lives with solutions.

Kibo 360 Trestle Labs aims to assist individuals with low vision and blindness by converting printed, handwritten, and digital text into voice audio across all languages, offering a more organized solution.

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