In an upcoming episode of Shark Tank India Season 3, viewers are set to witness an innovative solution to the rising threat of cyber fraud in the country. The entrepreneurs behind AI Kavach are stepping into the tank to present their cutting-edge technology aimed at safeguarding India’s online community.
With 70 crore active internet users in India, the prevalence of online activities has opened the door to cyber fraudsters. The AI Kavach team recognizes the need to protect the nation from online frauds and has developed a solution tailored to address this growing concern.
The pitch begins with a stark reminder of the pervasive influence of the internet in our lives, emphasizing the fact that people are increasingly conducting almost everything online. However, this digital shift has come with its own set of challenges, primarily in the form of cyber fraud.
AI Kavach Videos
AI Kavach Images
AI Kavach aims to be the shield that protects users from falling victim to online fraud. The entrepreneurs delve into the specifics of the problems they intend to solve and articulate the unique approach their solution takes. The focus is on providing a problem-specific and effective resolution to the evolving threats in the online landscape.
As the pitch unfolds, the entrepreneurs are questioned about their decision not to sell their product in the United States. Their response highlights the strategic choice to prioritize the Indian market first, citing the higher paying capacity of consumers and the burgeoning need for such cybersecurity solutions locally.
The entrepreneurs also address potential challenges, including issues related to cash flow. Their commitment to tackling these challenges head-on demonstrates their resilience and determination to make AI Kavach a success.
As the pitch progresses, the question arises about whether AI Kavach can withstand the scrutiny of the Sharks and emerge victorious. The anticipation builds as viewers are left wondering if AI Kavach will break down the barriers of the Sharks’ tough questions in the upcoming episode of Shark Tank India Season 3.
AI Kavach: Protecting India from Cyber Frauds
With the rise of e-commerce companies and social media platforms, our lives have become increasingly digital. We share personal and financial information online and perform banking transactions on our phones. However, this digital world also leaves us vulnerable to cyber frauds, with India having 70 crore active internet users and a high rate of cyber fraud cases.
To combat this issue and make the digital world safer for Indians, AI Kavach was founded. AI Kavach is an AI-powered patented solution that detects fraud on websites, calls, apps, and messages that require sensitive information. It provides real-time, on-phone alerts to users, ensuring their safety and protecting them from potential frauds.
Since its launch, AI Kavach has garnered over 20,000 downloads and 1,500 paid subscribers. The company has successfully caught more than 200 fake and fraudulent websites and messages, earning great reviews for its effectiveness.
Features of AI Kavach include fraud detection in areas such as UPI fraud detection, credit card fraud detection, and expanding business age verification. The company aims to make every digital interaction safe for its users.
1. How does AI Kavach protect users from cyber frauds?
AI Kavach uses AI-powered technology to detect fraudulent websites, calls, apps, and messages that ask for sensitive information. It provides real-time on-phone alerts, similar to Truecaller, helping users identify potential frauds and stay safe.
2. Can AI Kavach detect spam calls and messages?
Yes, AI Kavach can detect spam calls and messages, similar to Truecaller, ensuring that users are aware of potential frauds and can avoid them.
3. What is the accuracy of AI Kavach in detecting frauds?
The accuracy of AI Kavach is currently at 96%, ensuring that users are alerted to potential frauds correctly.
4. How long did it take for AI Kavach to develop the product and gain downloads?
AI Kavach has been in development for two months and has already gained over 20,000 downloads and 1,500 paid subscribers.
5. Are there any funding rounds for AI Kavach?
As of now, AI Kavach has not disclosed any funding rounds. However, the company’s valuation is based on its equity and investment.
The co-founders were offered two separate deals, one from Aman and another from Piyush. Aman’s offer included 50 lakhs for 1.25% equity, while Peyush offer included 50 lakhs for 1.25% investment. The co-founders were given the opportunity to choose between the two offers.
Overall, AI Kavach’s innovative solution to protect Indians from cyber frauds and its potential in the Indian market has made it a standout startup in Shark Tank India. With the aim of making India a hub for engineering companies and building strong businesses in the country, AI Kavach is poised to make a significant impact in the fight against cyber frauds.