AyuSynk Shark Tank India Pitch:
AyuSynk was featured on Shark Tank India Season 2. The company has developed a digital solution to enhance the functionality of traditional stethoscopes for doctors. The AyuSynk device, attachable to any standard stethoscope, transforms it into a digital version, providing improved clarity in detecting heart and lung sounds while eliminating background noise. Seeking a ₹1 Crore investment for a 1.5% equity stake, the founders valued the company at ₹66.67 Crores.
Their device removes background noise and clarifies the sound. Doctors can hear everything clearly and even see the results through a Mobile App. They also added an additional feature allowing users to live stream the results to doctors who are not in the same city. They were granted a patent for their product from the United States. As for the roles, Adarsh is the CEO of the company. Tapas is the Head of Hardware, and Varad is the Head of Software. They have equity splits of 43%, 32%, and 20%, respectively.
The device sells for ₹12,000, and the company has a 55% margin on their products. Their last month’s sales were at ₹32 lakh, and Year-to-date sales for FY22-23 are at ₹3 Crores. AyuSynk is projecting to close the year at ₹7 Crores with Net EBITA of 18%, which means they will make ₹1 crore. They have sold 5000 devices so far, out of which 90% are sold to calibration companies.
AyuSynk Shark Tank India Negotiations:
Vineeta Singh goes out, citing that she doesn’t specialize in this area. Aman had concerns about the selling price of the product, so he went out of the deal as well. Anupam thinks that this is a solution looking for a problem, and he doesn’t think the market is huge, therefore he steps out of the deal as well.
Peyush puts in the first offer at ₹50 Lakh for 5% of the company and the rest as debt at 12%. He also asks Namita to join the offer to which she responds that she would like to go solo on this. Namita thinks that this company needs improvement in three areas. Firstly, with decreasing manufacturing costs, secondly, they need to build a strong team, and lastly, it would need big education awareness. Given that, she offers ₹50 lakh for 4% and the rest as debt at 10%. The company takes a moment to think and comes back to counter the offers at ₹50 Lakh for 3.5% of the company, which Namita accepts, and they shake hands on that.
How is AyuSynk doing after Shark Tank India?
Our research on the company revealed that their Shark Tank India deal with Namita did not close after the show aired. Despite that, the company is still in business. Their website suggests that they have over 6000 users and three types of Digital Stethoscopes for purchase. Their devices have been featured on multiple mainstream media channels for their purpose and their recognition by IIT to use this amid the Covid pandemic.
While the financials of this company are not yet available, we will update this information as soon as more information comes to light.
Source: AyuSynk Instagram
Here are other companies from Season 2 Episode 7.
GunjanApps Studios
Update coming soon!
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