Founders & their story

• Mahek Mody
• Mohit Sharma

Upliance.ai, founded by IIT Bombay graduates, has revolutionized home cooking with its innovative Personal Cooking Assistant. Addressing the perception that 83% of people find home-cooked food boring, Upliance.ai introduces a cutting-edge Smart Jar equipped with multifunctional blades and heating sensors, for a unique cooking experience. The technology includes a patented application, ensuring a distinctive edge in the market.

Currently, the Smart Jar has gained widespread adoption, being present in over 700 homes with a commendable 700 paying customers. The AI Chatbox, available in multiple Indian languages, enhances user interaction and accessibility. With 500+ recipes at users’ fingertips, the platform allows for pre-measured ingredients and provides a convenient solution for users to keep them ready for cooking.

A notable feature is the integration of user feedback, allowing customers to provide insights on recipes and dishes, ensuring a dynamic and responsive cooking experience. Upliance.ai’s commitment to innovation and customer satisfaction positions it as a game-changer in the realm of smart kitchen appliances.

About the company:

Embark on a flavorful journey with upliance.ai, where the narrative originated from a fundamental question: How does one prepare meals for their family amid a global pandemic? This inquiry sparked an idea to empower individuals to seize control of their culinary choices and craft restaurant-style dishes within the confines of their homes.

Founded by Mahek Mody, former Ather Energy executive, and Mohit Sharma, former Chaayos professional, upliance.ai thrives at the intersection of smart, interconnected devices, and the essence of everyday living. Enter the upliance.ai realm, where the belief is that home cooking should be an extravagant experience – convenient, enjoyable, nutritious, healthy, and unmistakably intelligent! In response to the global pandemic reshaping our world and transforming our lifestyle, cooking habits, and dietary preferences, upliance.ai embarked on a mission to create a groundbreaking solution that transcends the ordinary.

At upliance.ai, the vision is to integrate smart technology seamlessly into every facet of homes. Anticipate the imminent launch of an extensive product line, featuring intelligent refrigerators, microwaves, and more, all meticulously crafted to elevate and simplify daily routines. Their mission? To elevate lives, one delectable meal at a time. Join them as they fuse the delights of technology with the art of cooking, transforming culinary experiences into not just a necessity but a delightful adventure!

Revenue: 

Upliance.ai offers its revolutionary Smart Jar at a competitive price of 20,000 per machine, with a current manufacturing cost of 29,000. However, with projected scale production ranging from 9,500 to 15,000 units, the company anticipates a significant reduction in production costs, ensuring enhanced profitability and market competitiveness. Having successfully raised 12 crores in funding in 2022, Upliance.ai maintains a robust financial position with 5 crores in the bank. The company operates with a monthly burn rate of 30 lakhs.

Founders’ Ask 

1 crore for 1% equity at the valuation of Rs. 100 crores.

Offers

Peyush: 10 lakhs for 0.5% equity at the valuation of Rs. 20 crores 90 lakhs debt at 14% interest for 2 years.

No Deal

Reasons for no deal:

Namita: She refrained from investing in Upliance.ai due to its financial losses and the perceived dissatisfaction with the taste of cooked food.

Anupam: The Indian market is deemed unready at the moment for this product.

Azhar: As an alternative to conventional cooking methods, this device was considered less effective.

Amit: The limited market size poses challenges in determining a favourable valuation.

Founders: They did not want to go below their valuation so they did not accept Peyush’s offer.