- Founder/Owner: Nidhi
- Business: AI and Neuroscience based EdTech Platform
- Ask: ₹80 Lakhs for 5% Equity
- Valuation/ Networth: ₹16 Crores
- Funding: ₹40 Lakhs for 8% + ₹40 Lakhs debt for 10% interest on 3 year term
- Sharks: Namita Thapar & Vineeta Singh
- Episode: Season 3 Episode 41
NEMA AI Shark Tank India Pitch:
NEMA AI is a smart education platform that combines AI and Neuroscience. A 5-minute AI scan provides insights about the child’s cognitive skills. Further, The company offers personal recommendations for cognitive enhancement or a learning curriculum based on those insights. The founder sought an investment of ₹80 Lakhs for 5% of the company valuing the business at ₹16 Crores.
NEMA AI launched in April 2023 and has impacted over 150 children’s lives, they have noticed a 12-30% improvement in those children’s cognitive abilities. Also, The company operates as business to business revenue model and cater to school and colleges.
NEMA AI showed in their demo that the students wear the electroencephalogram (EEG) headset to take the NEMA AI assessments. Also, The students are divided into 6 categories for group learning. The founder reiterated that the device is not their product but the SaaS is.
NEMA AI’s Financials & Revenue during Shark Tank India:
NEMA AI has a monthly recurring revenue of ₹30,000. They are currently active in 5 schools. Moreover, They usually charge ₹1,770 per student per test for a 45-minute assessment. The company has received grants from several organizations to keep the project going.
NEMA AI Shark Tank India Negotiations & Funding:
Anupam was the first shark to go out because he felt like the founder did not understand how to build a tech business. Aman goes out because he feels like the product is not market fit. Ritesh felt like the founder wasn’t clear if they were working on building a deep technology business or a SaaS business therefore he went out as well.
Vineeta gives the first offer of ₹40 Lakhs for 8% and the rest as debt for 10% interest on 3 year term. Namita was also interested in this business to she asked Vineeta if she could join her deal which Vineeta accepted. Finally, The founder accepted that offer without any hesitation and they shook hands on ₹5 Crores valuation.
Who is the founder of NEMA AI?
Nidhi founded NEMA AI. She is from Delhi and graduated from Delhi Technological University.
How is NEMA AI doing after Shark Tank India?
Our research in the company revealed that while they did get the deal on Shark Tank India, whether that deal has closed after the show is still unclear. The company has also been granted a US patient for their product and will possibly expand internationally. We will update this article with more information but in the meantime, you can check out Shark Tank India products by clicking the Amazon button below!
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Here are other companies from Season 3 Episode 41: