Shark Tank India is an Indian business series. The show is the Indian franchise of the American show Shark Tank. Several startups present their creative and innovative business ideas to a panel of judges and aim to secure funding. Judges evaluate the valuation of the business and provide funding to the startups in exchange for either ownership stakes or a specific percentage of equity in the company. The judges also provide valuable mentorship to help these startups navigate challenges they may encounter in their startup journey.
This season, the lineup of judges for Shark Tank features:
Radhika Gupta - MD & CEO @Edelweiss Mutual Fund
Aman Gupta - Co-founder and CMO of Indian electronics brand boAt Lifestyle.
Vineeta Singh - CEO & Co-founder of Sugar Cosmetics.
Peyush Bansal - CEO & Co-founder of Lenskart.
Ritesh Agarwal - Founder & Group CEO of OYO.
Table of Contents
Nemocare in Shark Tank India
‘Manoj Sanker P.R.’ and ‘Pratyusha Pareddy’ are the founders of the healthcare device ‘Nemocare.’ Pratyusha is from Hyderabad, while Manoj is from Bengaluru. He is an engineer who completed his degree at PES University in Bengaluru. She did her engineering degree in Bengaluru and studied design at the National Institute of Design in Ahmedabad. They are seeking ₹1 crore for a 2.5% equity stake.
What does Nemocare do?
‘Nemocare Raksha’ is a patented healthcare device designed for newborns. Every year in India 80 lakh babies are born with a low birth weight or are born premature or with an illness. Every year 4 lakh new borns lose their lives. 80% of these lives can be saved with timely intervention. It is the first patented health care device to increase the survival chances of these children.
Clinically graded wearable device attached to the baby's leg. Tracks seven vital parameters such as heart rate, respiratory rate, body temperature and oxygen saturation in real time. The device relays vital parameters to a nursing station via a centralised dashboard. Doctors can monitor data from anywhere through this IoT - Enabled product. Potential illness can be predicted through the AI platform. This device is very baby friendly and portable.
Nemocare Net Worth and Valuation
Nemo Care Valuation Rs 40 crore when they presented their idea to Shark Tank India.
Company Name |
Nemocare |
Net Worth |
INR 40 crore |
Founders |
Manoj Sanker P.R.’ and ‘Pratyusha Pareddy |
Headquarters |
Hyderabad |
Founded Year |
2017 |
Business |
health care device |
Profitability |
Business is profitable |
Got Investment: |
Yes |
What did the Sharks say?
Radhika Gupta expressed her admiration, stating, “I'm very pleased to see that you have good intentions. However, this company appears to be pre-revenue, so I'm out, as I do not invest in pre-revenue businesses. I advise you to scale up gradually and focus on commercial viability and early successes. I wish you the best!”
Ritesh Agarwal also opted out, stating that while it’s admirable to balance business with improving people’s health, focusing solely on impact may not build valuation. He added that concentrating only on FDA might be premature at this stage. He wished them all the best as they move forward.
Peyush and Vineeta jointly offered Rs. 50 lakh for 5% equity, along with Rs. 50 lakh as debt at 8% interest for one year, valuing the company at Rs. 10 crore.
Aman Gupta offered Rs. 20 lakh for 1% equity, along with Rs. 80 lakh as debt at 10% interest for two years, valuing the company at Rs. 20 crore.
Manoj and Pratyusha’s counteroffer was Rs. 20 lakh for 0.67% equity, along with Rs. 80 lakh as debt at 10% interest for two years, valuing the company at Rs. 30 crore.
Aman Gupta accepted this counteroffer, and the deal was closed on these terms.
Conclusion
It was an engaging episode where participants successfully secured deals with three sharks and received valuable mentorship to help grow their businesses. Now, everyone is eagerly awaiting the next episode, looking forward to discovering more intriguing businesses and their strategies for raising funds from the panel of judges.