Futr Studios
Introduction
The pitch on "Shark Tank India Season 3" by the founders of Futr Studios, featuring their virtual influencer, Kaira, showcases the innovative use of CGI and AI in creating India's first virtual human. The company, being a pioneer in this space within India, seeks to revolutionize the way brands engage with their audience by offering a digital influencer with a scalable and controllable persona.
Business Proposal
Futr Studios proposes a business model centered around Kaira, a virtual influencer developed using advanced CGI and AI technologies. The company collaborates with brands to create engaging content across social media platforms, thereby offering a new medium for digital marketing and brand endorsements.
Marketing and Business Strategy
The strategy involves leveraging Kaira's virtual persona to interact with the target demographic, especially the younger generation comfortable with digital interactions. Through engaging content and strategic partnerships with brands, Futr Studios aims to capitalize on the rapidly growing influencer marketing sector, providing a unique blend of technology and creativity.
Investment Request
For the acceleration of their growth and the expansion of their team and technological capabilities, Futr Studios requested an investment of 1 Crore INR in exchange for 2.5% equity in the company.
Outcome
The detailed pitch did not result in an investment from the Sharks. The concerns raised were around the current scalability, revenue model, and the dependency on outsourced talent for content and technology development.
Key Takeaways
- Innovation: The concept of a virtual influencer is relatively new, especially in the Indian market, indicating a high potential for innovation.
- Market Potential: Given the rising influence of social media on consumer behavior, the potential market for virtual influencers like Kaira is significant.
Challenges
- Monetization: Developing a stable and scalable revenue model seems to be a challenge, owing to the novelty of the concept.
- Dependency on Third Parties: The dependence on outsourced talent for crucial aspects of product development and content creation could potentially limit control and scalability.
Conclusion
While the pitch for Futr Studios highlighted a groundbreaking concept with potential market impact, it underscored the importance of a clear monetization strategy and the need to establish an in-house team for content and technology development to gain investor confidence.
Tabular Summary
| Key | Details |
|---|---|
| Year Started | 2022 |
| Valuation | Approx. 40 Crore INR (Based on 1 Crore INR for 2.5% Equity ask) |
| Turn Over | 46 lakhs INR (FY 23-24 till Sep) |
| Profits | ~12 lakhs INR (FY 23-24 till Sep) |
| Target Sector | Digital Marketing, Social Media Influencer Marketing |
| Original Ask | 1 Crore INR for 2.5% equity |
| Deal | No deal secured |