Snehix Tech Private Limited

Snehix is a trailblazing consumer tech company embarking on its inaugural IoT product venture in the realm of education. Our core mission is to address the underutilization of technology within classrooms, a prevailing challenge in today's digital era. Despite significant advancements, the swift digitization of handwritten notes remains an untapped opportunity in education, hindering the realization of its true advantages. Snehix is committed to bridging this gap by empowering instant digitization of handwritten notes, complemented by an array of innovative collaborative features.

The product is scheduled for a mid-next-year launch, preceded by a year-long free trial in a prestigious Bangalore school. Three classes participated, utilizing our product for sel ect subjects, resulting in a paperless classroom environment. Though the trial encountered initial technical glitches, Snehix diligently addressed them, incorporating feedback fr om teachers and students. Consequently, the solution evolved into a stable, highly-praised tool cherished by all. Currently, the software is undergoing rigorous testing and bug-fixing to ensure peak performance and stability. Additionally, we have successfully engineered a prototype of the paper tablet, ready for the manufacturing phase.

In the next 5 years, we envision capturing 50,000 users (0.5% of the market) among the 9 million students attending private schools in India, with an annual fee surpassing USD 2.5k. This strategic approach aims to generate USD 6 million revenue from over 10,000 users within a span of 3 years. Following successful testing and validation in India, Snehix plans a phased global launch starting from the 4th year onward.

Snehix's revolutionary solution addresses the prevalent challenges and taps into promising opportunities within the education landscape. The core problem it aims to tackle is the underutilization of technology in classrooms, particularly the swift digitization of handwritten notes. Despite the digital age, many educational institutions still rely on traditional pen-and-paper methods, missing out on the full potential of digitization and its transformative benefits.

By introducing their Eink panel-based tablet integrated with cloud technology, Snehix provides a groundbreaking way to digitize handwritten content in real-time. This disruptive approach unlocks the power of handwritten data and fosters a paperless learning environment, promoting sustainable practices and reducing the consumption of paper, plastic, and chemicals associated with conventional learning materials.

Moreover, the solution's innovative integration of Generative AI presents a myriad of exciting opportunities. It enables automated subjective answer evaluations using reference answers, easing the burden on educators while providing valuable feedback to students swiftly. Additionally, Snehix's vision extends to empowering students to create practice questions, offering instantaneous evaluation and feedback for effective self-assessment.

Furthermore, the wealth of digitized handwritten data generated by the solution's users presents an opportunity to create a knowledge web portal for educators worldwide. This platform can foster global connections, collaboration, and learning opportunities on an unparalleled scale, enhancing the overall quality of education.

In essence, Snehix not only seeks to bridge the gap between traditional and digital education but also aims to optimize the learning experience for students and educators alike. Through their innovative hardware, software, and Generative AI integration, Snehix aims to redefine how education is delivered and experienced in classrooms, empowering the education system with digital power while maintaining the essence of existing methodologies.

Snehix's flagship product is an Eink panel-based tablet integrated with cloud technology and Generative AI capabilities. This innovative solution aims to revolutionize the education sector by addressing the inadequate usage of technology in classrooms and leveraging the power of digital transformation.

The product works by enabling swift digitization of handwritten notes, overcoming the limitations of traditional pen-and-paper methods. By seamlessly integrating technology into the classroom, Snehix's solution empowers educators and students with an immersive and paperless learning experience.

Key Features and Benefits:

1. Instant Digitization: The product allows real-time digitization of handwritten content, eliminating the need for physical copies and enabling easy access to digital records.

2. Collaborative Features: The cloud-based platform facilitates collaboration among students and teachers, enabling seamless interactions, file sharing, and project collaboration.

3. Generative AI Integration: With the power of Generative AI, the solution can automate subjective answer evaluations using reference answers provided by teachers. This feature saves time for educators while providing prompt feedback to students, enhancing the learning process.

4. Environmental Sustainability: By promoting a paperless learning environment, the product champions environmental sustainability by reducing paper, plastic, and chemical consumption associated with traditional learning materials.

5. Self-Assessment and Practice: Students can create and submit practice questions, receive instantaneous evaluations, and valuable feedback, fostering effective self-assessment and improvement.

Global Knowledge Web Portal: The vast amount of digitized handwritten data generated by users contributes to the creation of a knowledge web portal for educators worldwide. This platform facilitates global connections, collaboration, and knowledge sharing.

The solution is innovative and groundbreaking, setting it apart from any previous offerings in the market, leading to no direct competitors as of now.
However, potential competition could arise from established players in the paper tablet manufacturing industry, such as Amazon with its popular Kindle product. If these companies decide to develop software similar to ours, they may present a competitive challenge.

The Snehix solution boasts several advantages and differentiators that set it apart from existing offerings in the market:

1. Innovation and Groundbreaking Technology: Snehix's solution is truly innovative and groundbreaking, introducing a novel approach to digitizing handwritten notes and revolutionizing the way education is delivered in classrooms. This unique aspect positions Snehix as a pioneering player in the education technology landscape.

2. No Direct Competitors: As of now, there are no direct competitors offering a similar comprehensive solution for digitizing handwritten notes and integrating Generative AI into the educational evaluation process. This gives Snehix a significant first-mover advantage, allowing the company to establish a strong presence in the market without immediate competition.

3. Seamless Integration of Hardware and Software: Snehix offers a holistic solution by integrating proprietary hardware (Eink panel-based tablet) with advanced software capabilities. This seamless integration ensures an optimized user experience, setting Snehix apart from companies that might offer either hardware or software solutions, but not both.

4. Customized for Educational Environment: Unlike generic tablets or e-readers, Snehix's solution is purpose-built for the educational environment. It caters specifically to the needs of teachers and students, providing features that enhance the learning and evaluation process. This specialized focus enhances the solution's effectiveness and attractiveness to schools and educational institutions.

5. Potential for Collaboration and Content Enrichment: Snehix's platform offers opportunities for collaboration with book publishers and text content providers, enriching the educational content available to users. This collaboration differentiates the solution from traditional tablets or e-readers that may lack specialized educational content.

Snehix's revenue stream is built on a B2B business model with a direct sales approach, primarily targeting schools at a competitive price point of USD 450 per unit. This pricing strategy allows Snehix to achieve a profit margin of USD 150 per unit sold.
In addition to the hardware sales, Snehix plans to generate recurring revenue through an annual cloud subscription fee of USD 20 per user. From this fee, USD 7 will be shared with the school as an incentive, encouraging them to embrace and integrate Snehix's solution into their educational practices. Moreover, Snehix is exploring further monetization opportunities by offering eBooks on their platform and collaborating with third-party text-based content providers.

The company's initial focus will be on the specific market segment in India, aiming to reach 50,000 schools, approximately 0.5% of the 9.4 million potential customers, within the next 3 years. With a solid foundation in the local market, Snehix envisions a global product launch starting from the fourth year, expanding its reach to international markets.

Snehix's revenue stream is built on a B2B business model with a direct sales approach. In the initial years, we will focus on a specific market segment in India, aiming to reach 0.5% of the 9.4 million potential customers, approximately 50,000, within the next 3 years. Our long-term plan includes a global product launch starting from the fourth year. Through various marketing channels, including digital platforms, we will promote our solution as a productivity enhancement tool for teachers and students, emphasizing its unique value proposition. Direct sales teams will handle customer acquisition to maintain control over pricing.

To enrich our platform with diverse content, we will partner with book publishers and enable eBook adaptation. Additionally, we seek collaborations with text content providers to utilize the Snehix platform. Exceptional customer support will be a priority, offering prompt assistance, training, and ongoing technical support, which will contribute to establishing a strong product brand and building the company's reputation.

Our financial projections are based on a meticulous 3-year P&L plan, considering various expense factors and realistic sales numbers. We are confident that in the coming years, we can generate a revenue of USD 6.1 million, with a profit of USD 1.3 million.

Out of the total raised amount of USD 950k, approximately half will be allocated to the manufacturing of the first few thousand units. An allocation of USD 240K is earmarked for essential aspects such as hiring, research and development, tests, and certifications. The remaining funds will be dedicated to marketing and communication efforts to promote and establish the product in the market. This strategic distribution of funds ensures a focused approach towards product development, quality assurance, and effective market penetration.

Snehix is in the process of raising approximately one million dollars at a pre-money valuation of around five million dollars, offering a 20% equity stake in the company as part of the investment opportunity.

The Snehix solution is truly disruptive and revolutionary, with the potential to transform the traditional education system for the better. Being a completely new offering, it may encounter initial challenges in terms of first-time adaptability. However, once it has been successfully tried and tested by a few customers, these challenges fade away, giving way to a plethora of exciting opportunities. The solution's proven effectiveness paves the way for widespread adoption and unlocks a cascade of possibilities in the education technology landscape.

We are currently enrolled in the Conquest cohort program organized by BITS, Pilani, which spans over 6 weeks and will conclude in 2 weeks from now. Out of 2000 applicants, we were selected as one of the 25 startups as informed by the organizers. Throughout this program, we have had the opportunity to meet and learn from several successful entrepreneurs who generously shared valuable business insights that were previously unfamiliar to us.

Snehix achieved significant accolades and recognition in 2020, including being honored as a winner in the prestigious Elevate program by the Government of Karnataka. Additionally, TiE acknowledged Snehix as one of the most innovative IoT startups of the year. Furthermore, Snehix secured the winning position in the Ramaiah Evolute Startup program, achieving an impressive rank of 4th. Notably, the company also secured the 4th position in the highly competitive Edupreneur Village EdTech startup competition. These achievements showcase Snehix's dedication to innovation and excellence in the education technology industry.