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100X.VC Team
Written by various collaborators within Team 100X.VC
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Jan 24, 2023
Topic

Introduction

3D Modelling has been one of the most instrumental innovations in technology. With its multiple applications across different industries and domains; every industry, company, and team has been working on integrating this technology in its daily operations or offerings. 

Although, ​​Creating a high-quality 3D model using traditional methods such as CAD and CAM can be time-consuming and costly. It requires a high level of expertise, can take hundreds of hours to complete, and can cost up to $30 per hour. Despite this, the resulting models are not always highly lifelike. As a result, many businesses are unable to implement this method on a large scale.

MetaShop offers a revolutionary solution to this problem by allowing businesses to create photorealistic 3D models in just minutes. With MetaShop, businesses can save both time and money by generating models at a fraction of the cost of traditional methods, without the need for specialized expertise. When integrated with ecommerce websites, businesses can see a significant increase in conversion rates and user engagement.

Mukul Ingle and Sophiya Jagannathan, two passionate builders met in the college classroom 

during semester examinations and exchanged ideas on building projects together. Mukul went on to start Superset Labs, a tech-services startup and hired Sophiya as an intern. After working on multiple projects together, they decided to co-found MetaShop together after experiencing the pain of buying products online without having an immersive experience. 

Mukul looks after the product and fundraising, while Sophiya takes care of business development, sales and marketing. Their complementary skill sets and experience of working together makes them the ideal co-founders.

Market Opportunity

With over 80 million products listed online across ecommerce platforms, the potential revenue for MetaShop is staggering. Even if only 20% of these products were converted to 3D models using MetaShop, the revenue would reach $8 Billion. Additionally, this pipeline can be expanded to serve other markets, leading to a market size of $400 Billion with an expected growth rate of 45% YoY.

100X Thesis

The IP they have built is defensible. As per our interactions with multiple startups and other investors we are seeing a lot of AR startups getting customer interest. Metashop has built a good solution with one use case in practise and others to be built out. The team is balanced and we are keen to see the use cases evolve!

Conclusion

We believe that Metashop is a strong product because it provides a unique and innovative solution in the 3D modelling and AR/VR space. With its easy-to-use platform, anyone can click photos and turn them into 3D models - no CAD knowledge is needed. This makes it a very powerful tool for businesses and individuals alike. Additionally, its applications are varied and far-reaching. From retail to gaming to education, Metashop has the potential to transform many industries.

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