Janitri Shark Tank Pitch:
Janitri, a healthcare brand spearheaded by Arun Agarwal, specializes in medical-grade fetal and maternal monitoring solutions for both hospital and home use. Their innovation involves patented technology and clinical research to ensure precise and safe monitoring. They offer portable, user-friendly fetal monitoring devices, software, and smart solutions for pregnancy monitoring at home. Arun Shared that out of 1 Lakh live births, 113 mother die in India and 30 out of 1000 newborns die at the time of delivery or after. 80% if these deaths are preventable with right monitoring.
Janitri aims to address maternal and neonatal mortality issues through affordable AI-enabled devices and wearables. Their mission revolves around providing accessible, cutting-edge monitoring solutions to combat maternal health challenges, leveraging technology to save lives and improve healthcare. They have 3 products. Keyar patch, Daksh and Nawam wearable which is in prototype stage. Their business is B2B and they are selling directly to Hospitals and Clinics. They have 12 filed patents out of which 4 are granted already.
Janitri Financials during Shark Tank:
Traditional brands old equipment costs ₹1-2 Lakhs and Janitri sells their Keyar for ₹29,000 and Daksh which is a software comes with addtional charge of ₹10,000 annualy. They made ₹1.03 Crores in FY21-22 and their last month sales are at ₹10 Lakh with monthly burn rate of ₹15 lakhs. They launched in March 2021.
Janitri got grants from BIRAC, GATES Foundation, Government of Canada and Government of Karnataka. They have raised around ₹7 Crores till date with 50% of them in grants. They raised their first seed round at Valuation of ₹15 Crore in Feb 2020 where they raised ₹2.5 Crores. Same investor made another investment of ₹1.15 Crores at convertable note a year after. They are hoping to close this year at ₹4 Crores due to them starting exports. Their projections for next year at at ₹20 Crores.
Janitri Shark Tank Negotiations and Funding:
Namita gives the first offer as she thought she was the best partner for the company as she had a strong presence in Nursing home where this product will be in demand. She offers ₹75 lakh for 5% of the company and rest as debt. Arun shared that they are raising big round of ₹5 Crores and he already have commitment of ₹2.5 Crores at ₹40 Crore valuation which is in final stage. Namita asks the founder to close her round before the other investment and she would give him ₹30 Crore valuation. She offers ₹60 lakh for 2% and rest as debt.
Anupam liked how Arun was challenging big players and He liked the founder. He goes out because he thinks Namita was better partner then him. Aman shared the same sentiment therefore he goes out of the deal.
Peyush offers ₹1 Crore for 5% and asks Namita if she would like to join to which she responds that she would like to go solo on this deal. He join hands with Amit to offer ₹1 Crore for 5% of the company. Amit revises that offer to ₹ 1 Crore for 2.5% Equity with a Condition that If revenue of ₹ 20 Crore is not achieved in the next financial year, the sharks will get an additional 2.5% Equity. Namita matched Amit’s offer which Arun accepts without any hesitation.
Who is the founder of Janitri?
Arun Agarwal founded Janitri. Anun is from Alwar Rajasthan. He did B-tech in electrics from VIT. He did his masters in Bio-medical engineering. Arun was a patent analyst in healthcare domain. He did a detailed research of mother and child healthcare.
How is Janitri doing After Shark Tank India?
Our research in the company revealed that their Shark Tank India deal with Namita Thapar closed after the show aired and the company is Thriving. Namita shared in April 2023 that Janitri’s sales have gone from ₹10 Lakh to ₹50 Lakh and its just a beginning. As of December 2023, The company is still in business and thriving. They have also expanded their product lines and now have both B2B and B2C products available for sale. Namita Thapar shared that Janitri’s sales have grown 7X which gives them an estimated net sales of ₹7-8 Crores. Namita added that the company is raising series A round at 5X valuation giving Janitri a net worth of ₹200 Crores!
Interestingly, Arun also had a meeting with Cardekho Founder and another Shark on the show Amit Jain in November 2023. He may be another investor for newer round as we know that they did not make the deal on Shark Tank Show.
Source: Instagram @janitri.official
Here are other companies from Season 2 Episode 12.
Jaipur Watch Company
Update coming soon!
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