Accessibility startup nets Rs 60 lakh deal with Screwvala, Peyush Bansal on 'Shark Tank 3'
Mumbai, Feb 13 (IANS) The new episode of 'Shark Tank India 3' witnessed a pitch by 'Kibo', an assistive technology company which is revolutionising accessibility for the visually impaired, and it has sealed a deal of Rs 60 lakhs in exchange of six percent equity with filmmaker Ronnie Screwvala and Peyush Bansal, the co-founder and CEO of Lenskart.
Accessing content in real-time remains a formidable challenge for blind and low-vision individuals in India. With less than one percent of reading material available in Braille, a tactile writing system used by the visually impaired, and the time-consuming process of audio recording, a 300-page book can take up to six weeks to be delivered in an accessible format.
Trestle Labs, founded by Akshita Sachdeva and Bonny Dave, addresses this pressing issue with their product, 'Kibo' (Knowledge in a Box). They pitched a deal of Rs 60 lakhs for one percent equity.
Kibo offers four innovative solutions: Kibo Mobile App, Kibo XS Kit, Kibo Desk, and Kibo 360 Kit, each designed to empower individuals with visual impairments by providing real-time access to printed, handwritten, and digital content in 60 global languages, including 12 Indian languages.
Inspired by the challenges faced by visually impaired individuals like Deepali, a BA Marathi student who lost her eyesight within a week, Akshita and Bonny set out on a mission to make education and employment opportunities more inclusive.
Founded in 2017, Trestle Labs is an Assistive Technology company dedicated to breaking down barriers around disability, language, and literacy. Their flagship product, Kibo, has already empowered over one lakh visually impaired individuals across nine countries and made more than 600 institutions inclusive.
The four variations of Kibo – Kibo Mobile App, Kibo XS Kit, Kibo Desk, and Kibo 360 Kit – cater to both personal and institutional needs, offering comprehensive solutions for accessibility.
Kibo sealed the deal with Ronnie and Peeyush at Rs 60 lakhs in exchange of six percent equity.
Talking about his experience, Bonny Dave, co-founder, Kibo by Trestle Labs said: "Shark Tank India Season 3 has been a great boost to Kibo by Trestle Labs' growth and brand visibility. We are sure to bring Kibo to thousands of schools, colleges and offices in India and beyond, and make them digitally inclusive."
"The conversation with the sharks gave us a deep dive into the huge market potential our technology Kibo holds. The openness the sharks had towards traversing this growth journey with us was the most reassuring," he added.
'Shark Tank India 3' streams on Sony LIV.