What is Upliance.ai?
Upliance is a personal cooking assistant that will help you make any dish you want. When you take a look at the device, the device looks very modern. It has a screen on it.
Upliance has heating elements and sensors attached to it. It has patented technology. It has a chatbot that will help you throughout your cooking time.
It has more than 500 recipes pre-installed. Users can provide their feedback on these recipes.
Who is the Founder of Upliance.ai?
Mohit Sharma & Mahek Mody are the founders of Upliance.ai. They are from Bangalore. They have known each other for 17 years. Mahek is the CEO and Mohit is the CTO of the company.
Upliance.ai Before Shark Tank India?
Anupam Mittal previously met the founders while they were beta-testing the product. It happened 1.5 years ago. Currently, Upliance is available in 700 homes.
How much money did they ask for on the pitch?
They came to Shark Tank India seeking ₹1 Crore for 1% equity in the company Upliance.ai. Which gives the company a valuation of ₹100 Crores.
How much money did they raise for Upliance.ai?
They raised ₹12 Crores on ₹49 ~ ₹78 Crores valuation.
How to get Upliance.ai?
You can get the Upliance machine from their website.
Unit Economics of Upliance.ai
|Making price of Upliance
|Selling price of Upliance
The making cost can be reduced up to ₹15,000 when they’re producing on a massive scale. Upliance will be competing with companies like Instant Pot & Geek Robocook.
Upliance is not a profitable company. They are burning ₹30 Lakhs per month.
Which shark gave Upliance.ai an offer?
Namita Thapar was out. She didn’t like the product or the founders.
Anupam Mittal was out. He thought it would take 10 years for this kind of product to be profitable in India. That’s why he didn’t give any offer.
Azhar Iqubal was out. He couldn’t find any market in India for this.
Amit Jain was out. He couldn’t figure out how big the market was for this product.
Peyush Bansal was impressed with the founders. He offered them ₹10 Lakhs for 0.5% & ₹90 Lakhs debt at 14% interest for 2 years.
|Peyush Bansal – ₹10 Lakhs for 0.5% & ₹90 Lakhs debt at 14% interest
The founders politely declined the offer.
What deal did Upliance.ai get in Shark Tank India?
Upliance didn’t get any deal in Shark Tank India.
|Mohit Sharma & Mahek Mody
|₹1 Crore for 1%
|Company Net Worth
What is the net worth of Upliance.ai?
The net worth of Upliance is ₹100 Crores according to the founders.
Is Upliance.ai still in Business?
Yes, Upliance is still in the cooking business.