About the Company
LOKA is an innovative Indian startup revolutionizing the virtual reality (VR) and metaverse space. Headquartered in Bengaluru, India, the company provides immersive digital experiences, enabling users to interact in a hyper-realistic virtual world. LOKA primarily serves gaming, entertainment, education, and social networking industries, creating a new dimension of digital engagement for individuals and businesses alike.
Location: Bengaluru, India
Industry: Virtual Reality, Metaverse, Gaming, Entertainment, Social Networking
Key Clients: Gaming communities, tech enthusiasts, educational institutions, and corporate clients exploring metaverse applications.
Business Model
LOKA operates through the following key business segments:
a) Virtual Reality Platform
- Description: LOKA offers an immersive VR metaverse where users can explore digital spaces, interact with each other, and engage in various activities.
- Key Clients and Markets: Gaming communities, social platforms, and corporate enterprises integrating metaverse solutions.
b) Enterprise & Educational Solutions
- Description: Provides customized VR solutions for businesses and educational institutions for training, collaboration, and virtual events.
- Competitive Advantage: Offers high-fidelity experiences, real-time interactions, and scalable virtual environments.
c) Revenue Streams
LOKA generates revenue through:
- Subscription Models: Paid memberships for enhanced virtual experiences.
- In-App Purchases: Sale of virtual assets, avatars, and digital goods.
- Enterprise Solutions: Customized VR solutions for businesses and institutions.
- Advertising & Sponsorships: Brand placements and event sponsorships within the metaverse.
What Problem is the Startup Addressing?
The digital world is rapidly evolving, yet traditional social networking and gaming experiences lack depth and true interactivity. LOKA addresses these challenges by:
- Creating a Fully Immersive Metaverse: Enhancing user experiences with lifelike VR interactions.
- Bridging Social Gaps: Enabling users to connect in virtual spaces beyond traditional social media.
- Enhancing Learning & Collaboration: Providing engaging and interactive educational and business environments.
- Providing Economic Opportunities: Allowing users to monetize digital assets, participate in virtual commerce, and engage in creator-driven economies.
Key Financial Numbers
- Revenue (Latest): ₹12 crore ($1.44M) as of March 31, 2024.
- Profitability: ₹1.2 crore ($144K) as of March 31, 2024.
- Growth Rate: 85% YoY growth.
- Funding: Raised $5 million from Sequoia Capital, Accel Partners, and other prominent investors.
- Market Valuation: $75M as of September 2024.
About the Founders
Krishna Iyer – Founder & CEO
- Education: B.Tech in Computer Science from IIT Bombay
- Professional Background: A tech entrepreneur with expertise in AI, VR, and metaverse applications.
- Role in Company: Leads product innovation, business strategy, and overall company vision.
Riya Mehta – Co-Founder & CTO
- Education & Background: M.S. in Artificial Intelligence from Stanford University
- Contributions: Heads technology development, AI-driven immersive experiences, and platform architecture.
