Have you ever struggled to access information because of a visual impairment? Imagine being able to read any document, anywhere, at any time. Kibo, a revolutionary AI-powered technology, is making this a reality. This innovative startup is breaking down barriers for visually impaired individuals by converting documents into their preferred language through their mobile app and web software.
But Kibo isn’t stopping there – they’re also working to empower institutions like schools, libraries, and businesses with accessible solutions. Get ready to learn more about Kibo and how they’re creating a more inclusive world!
About The Company – Kibo by Trestle Labs
| Startup / Company Name | Kibo by Trestle Labs |
| Industry | Tech Industry |
| Founder | Bonny Dave & Akshita Sachdeva |
| Product / Service | Kibo Product |
| Revenue | 1.35 Crores (22-23) |
About The Pitcher
| Number of Presenters | Two presenters |
| Name of Presenters | Bonny Dave & Akshita Sachdeva |
| Pitchers City | Faridabad & Ahmedabad |
| Pitchers State | Haryana & Gujarat |
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Kibo by Trestle Labs Pitch Details
| Shark Tank Episode | Episode |
| Original Ask Amount | ₹ 60 Lakhs |
| Original Ask Equity | 1% Equity |
| Original Valuation | 60 Crores |
| Offer Received | 1) 60 Lakhs for 10% Equity (Peyush & Ronnie) 2)60 Lakhs for 3% Equity (Aman) |
| Final Deal Amount | 60 Lakhs |
| Total Deal Equity | 6% Equity |
| Sharks in Deal | (Peyush & Ronnie) |
Solutions Offered By Business
Kibo is a tech company on a mission to bridge the information gap for visually impaired individuals and institutions. Their suite of AI-powered solutions tackles challenges related to accessing and processing written content. Here’s a breakdown of the solutions Kibo offers:
For Individuals:
- Kibo Mobile App: This downloadable app (available on Play Store and App Store) acts as a portable reading tool. Users can upload PDFs, Word files, and images, and the app will convert them into an audio format, allowing for on-the-go reading.
- Kibo Web Software: This web-based platform provides similar functionalities to the mobile app. Users can upload documents and have them converted into audio or translated into their preferred language.
For Institutions:
- Kibo Access Kit: This portable device scans printed documents and handwritten text, converting them into digital formats accessible through screen readers or audio conversion. Libraries, schools, and offices can install these kits to create accessible learning and working environments.
- Kibo 360: This software solution caters specifically to enterprises, publishers, and universities. It offers high-volume document processing capabilities, allowing institutions to convert large amounts of digital content into accessible formats.
Key Highlights of Kibo’s Solutions:
- Focus on Indian Languages: Kibo recognizes the importance of regional accessibility. Their technology boasts high-accuracy translation and conversion capabilities for Indian languages, including Hindi, Marathi, and more.
- Offline Functionality: The mobile app allows users to download documents for offline access, ensuring reading materials are available even without an internet connection.
- Real-Time Processing: Both the mobile app and web software offer real-time conversion, eliminating waiting periods for users to access information.
By providing these comprehensive solutions, Kibo empowers individuals with visual impairments to gain independence and access information crucial for education and employment. Additionally, their institutional solutions promote inclusivity within schools, libraries, and workplaces.
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Lesser Known Facts About Kibo by Trestle Labs
- Empowering Millions: Kibo targets a large audience, aiming to address the needs of over 2 crore (20 million) visually impaired people in India under the age of 50.
- Focus on Education and Employment: Kibo’s solutions address a major barrier for visually impaired individuals: accessing educational materials and documents needed for employment.
- Award-Winning Technology: The company boasts a patented AI technology that delivers high-accuracy text conversion, including handwriting recognition in Indian languages.
- Bootstrapped Growth: Despite being in operation since 2019, Kibo achieved profitability and steady revenue growth without external funding, demonstrating a potentially scalable business model.
- Social Impact & Profitability: Kibo bridges the gap between social impact and financial viability, generating revenue while addressing a critical need in the visually impaired community.
- Shark Tank Negotiation: The founders entered the Shark Tank seeking Rs. 60 lakh for 1% equity, but the negotiation resulted in a deal of Rs. 60 lakh for 6% equity, valuing the company at Rs. 10 crore.
- Room for Growth: While the Sharks acknowledged the company’s traction and social impact, they also identified an opportunity to expand Kibo’s market reach beyond its current focus on educational institutions.
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