Indian Art
App
Season 3 Episode 9
| Brand | Rooftop |
| Company Name | Rooftop App |
| Founders | Kartik Gaggar |
| Original Ask | 2 crores for 4% equity at the valuation of 50 crores |
| Deal | No Deal |
About the Product
The app serves as a comprehensive resource, offering insights into various art forms, including their origin, history, significance, and the materials required. It prides itself on being multilingual, ensuring accessibility by providing courses not only in the local language chosen by the artist but also in Hindi and English. This flexibility caters to a diverse audience and promotes a broader engagement with art. The app’s versatility extends to its course offerings, featuring a range of options such as the Gond course, Pichwai art course, Fresco Course, Madhubani course, and Pattachitra course. Whether learners prefer offline or online classes, with options for both live and prerecorded sessions, the app adapts to various learning preferences.
What sets the app apart is its vibrant community, bringing together both learners and artists. This collaborative space fosters an enriching environment where individuals can share, learn, and grow together, establishing the app as a dynamic hub for art enthusiasts.
Founders & their story
- Kartik Gaggar
Kartik envisions a cultural renaissance by preserving and promoting over 200 traditional Indian art forms that are gradually fading into obscurity. Through his initiative, Rooftop, Kartik aims to connect today’s generation with the rich heritage of Indian art. The platform offers a unique blend of online and offline courses curated by national award-winning artists, providing a bridge to learning, leisure, and networking. Rooftop, with a customer base of 60,000 and partnerships with 3,000+ artists, originated from Kartik’s travel experiences in Jaipur, Jodhpur, and Udaipur, where he met talented artisans. The platform facilitates immersive experiences, allowing individuals to meet and collaborate with artists, fostering a lifetime of memories.
Boasting classes hosted by 1,100+ artists, Rooftop transforms the learning process into a cultural journey. Kartik, a former PwC consultant, plans to utilize funds for marketing, customer acquisition, and experimentation with regional and foreign language content. The roadmap includes the development of an e-commerce vertical for selling these unique art forms. Additionally, Kartik envisions expanding Rooftop into a marketplace, enhancing user experience and ensuring the continued celebration of India’s diverse artistic legacy.
About the company
Rooftop stands as India’s premier online learning platform, specializing in live art workshops and expertly curated art courses. Their thoughtfully chosen classes serve to bridge the gap between artists and art enthusiasts, making art accessible and approachable for all who seek it. The carefully designed art experiences are tailored to seamlessly integrate into individuals’ work lives, allowing them to attend classes on the go, at their convenience.
With a diverse array of courses, ranging from live art workshops led by passionate and skilled artists to Maestro Courses and Art Therapies, Rooftop caters to a wide spectrum of artistic interests. The app not only delivers creative services but also facilitates connections among art enthusiasts, fostering an exclusive art community with a unique identity. With a vast portfolio of over 2,000 art experiences, featuring contributions from more than 2,100 expert artists, Rooftop has engaged a community of 42,800+ members across 20+ countries globally. Their mission is to stand as a pioneering leader in the art industry, shaping conceptual art and nurturing creative genius. Rooftop aspires to cultivate a distinctive and transcendental community that empowers artists to bring their concepts to life.
Revenue
Rooftop, with a user base of 4,500 monthly active users, is making significant strides in the promotion of traditional Indian art forms. The customer acquisition cost stands at Rs. 1,000, resulting in September 2023 sales ranging from 7.5 to 8 lakhs. The projected sales for the fiscal year 2023-24 are expected to reach an impressive 2.25 to 2.6 crores.
The platform incurs a monthly burn of 14 to 15 lakhs, with a diverse range of offerings such as online courses priced between 2.5K to 8K, certified courses at 27K, subscription costs ranging from 1K to 2K, and live workshops at 450Rs. These courses provide a unique opportunity for users to engage with and learn from national award-winning artists. To fuel its growth, Rooftop secured a loan of 3.25 crores from Kartik’s mother. The runway, with the current financials, is projected to last 7 to 8 months. Kartik envisions further expansion by experimenting with regional and foreign language content, enhancing the e-commerce vertical, and ensuring a seamless user experience.
Founders’ Ask
2 crores for 4% equity at the valuation of 50 crores.
No Deal
Reasons for no deal
Vineeta: The founder must acknowledge the lack of Product-Market fit and grasp the current reality.
Namita: The business model is not scalable.
Aman: Kartik did not give clear and concise answers making it difficult for the sharks to understand the true picture.
Anupam: While Kartik may excel professionally, he lacks the acumen of a successful businessman and demonstrates a limited understanding of the business.
Deepinder: He perceives the future vision as lacking clarity.
