How is Decode Age doing after Shark Tank India?

Founders: Rakesh Somani, Parth Amin & Darshit Patel
Business: Supplements
Ask: ₹1 Crore for 1.25% Equity
Valuation/ Networth: ₹80 Crores
Funding: ₹1 Crore for 1.25% Equity
Sharks: Anupam Mittal
Episode: Season 3 Episode 14

Decode Age Shark Tank India Pitch:

Decode Age is India’s first and only healthy aging/longevity-focused company. They appeared on Shark Tank India Season 3 Episode 14. The founders’ vision is to make the 80s the new 50s by reducing aging effects, and to do this, they have developed a unique 3P approach: Firstly, Prevent, which are supplements that would manage age-related symptoms. Secondly, Predicting, where they do Gut Microbe tests and Biological age testing. Lastly, Personalized, which provides tailored protocols based on unique biological data to reverse biological aging. They have helped 20,000 people with their healthy aging journey. The company sought an investment of ₹1 Crore for 1.25% of their business, valuing the venture at ₹80 Crores.

Decode Age also sells biological age kits to measure the biological age of your body. It is a home kit which costs ₹20,000 and can be ordered through their website. You would need to collect saliva in the provided tube. That sample is collected from your doorstep and then processed in the lab. Further, That test provides a DNA report with 180 markers. Moreover, They have collaborated with a UK-based lab to provide Epigenetic tests. Their Gut Microbe test is a proprietary stool test that was developed in-house.

Decode Age was started in March 2023. So far they have 10 SKUs in supplements. Their first supplement is NMN (Nicotinamide Mononucleotide), which has similar nutrition against aging as 10,000 bell peppers. Their second compound is CA-AKG (Calcium Alpha-Ketoglutarate), which when consumed for 8 months could reduce the Biological age by 3 years on average. Decode Age products cost between ₹900 to ₹3000.

Decode Age Financials & Revenue during Shark Tank India:

Decode Age has an Annual revenue run rate for FY23-24 of ₹11 Crores currently. 93% of the sales come from supplements. The founders shared that they have a Gross margin of 70%. The company is burning 10% on EBIDTA level as of October 2023, which comes to a burn of around ₹9 Lakhs per month. They are projecting ₹35 Crores ARR for the next year.

Decode Age has raised funding in October 2022 where they raised ₹1.13 Crores at ₹60 Crore valuation. The founders also invested ₹1 Crore of their own money in this venture. Currently, all 3 co-founders own an equal amount of equity in the company, which is 32.7% each.

Decode Age Shark Tank India Negotiations & Funding:

Namita was the first shark to go out due to no-entry barrier in this industry and lack of defensibility of this business. Vineeta goes out due to not having clarity on the direction of the technology. Amit couldn’t understand the plan of action as well, therefore he also goes out of the negotiations. Aman just didn’t believe in the product, therefore he also goes out.

Anupam felt like this market is going to explode, therefore he gives the first and only offer where he offered ₹1 Crore for 2.5% and royalty of 1% until ₹1.5 Crores are recouped. The founders take a moment to think and come back to counter Anupam’s offer at ₹1 Crore for 1.75% and no royalties because they are burning the money. Anupam counters that with ₹1 Crore for 2.25% plus 1% royalties until he makes ₹1.5 Crores back, which entrepreneurs accepted and they shook hands on that.

Who are the founders of Decode Age?

Rakesh Somani, Parth Amin & Darshit Patel founded Decode Age. Darshit has done a bachelor’s in biotech chemistry. Parth has done a bachelor’s of computer application from Sardar Patel University.