- Founder/Owner: Manoj Sanker P R & Pratyusha Pareddy
- Business: Healthcare
- Ask: ₹1 Crore for 2.5% Equity
- Valuation/ Networth: ₹40 Crores
- Funding: ₹20 Lakhs for 0.67% equity + ₹80 Lakhs debt @10% interest for 2 years
- Sharks: Aman Gupta
- Episode: Season 3 Episode 43
Nemocare Shark Tank India Pitch:
Nemocare Raksha is a patented healthcare device designed for newborns. They appeared on Shark Tank India Season 3 Episode 43. It is a clinically graded medical device which is attached to baby’s leg to track several vital parameters like heart rate, respiratory rate, body temperature and oxygen saturation in real-time. The device Relays vital parameters to the nursing station via a centralized dashboard. Along with that doctors can also monitor data from anywhere through this IoT enabled product. The founders sought an investment of ₹1 Crore for 2.5% of the company valuing the business at ₹40 Crores.
Nemocare founders shared that their device has an SpO2 accuracy of 99%, Heart rate rating accuracy of 98%, respiration rate monitoring accuracy of 97% and there is no error in monitoring body temperature. The company is catering to Small to Mid-size nursing homes, to whom they provide devices for free but charge for subscription peruse. They also sell to large corporate hospitals where they offer personalized monitoring. They also operate through CSR model as well.
Nemocare’s Financials & Revenue during Shark Tank India:
Nemocare’s CSR model brings in 90% of their total revenue. They charge ₹3 Lakhs which include 5 devices, tablets, training and on-field deployment. After all expenses, this leaves them with 66% gross margin. The founders added that they have US patients granted for their products.
Nemocare’s making cost for the device is ₹10,000 and they charge ₹60,000 to buy out the device outright. Each device can be reused for up to 1.5 years and around 200 babies can be monitored during lifetime of 1 device. That is due to battery limitation of 300 charge cycles.
The founders shared that they got a grant from Bill Gates NGO after which they started working on the product and incorporated the company in 2016. Also, They received around ₹65 Lakhs from the organization. They are also supported by BIRAC. In total, they have gotten total grants of about ₹6 Crores so far.
The company made a revenue of ₹1 Crore in FY21-22, followed by ₹70 Lakhs for FY22-23 with a net loss of ₹15 lakhs. As for FY23-24, They have made a revenue of ₹30 lakhs till October 2023 and are projecting to close the year at around ₹90 Lakhs. Also, They are currently in the midst of raising a round of ₹5 Crores at a total ₹40 Crore valuation in which some Fortune 500 companies are also participating.
Nemocare Shark Tank India Negotiations & Funding:
Radhika was the first shark to go out due to this venture still being in pre-revenue stages. Ritesh felt like the company was still in the early stages therefore he went out as well.
Peyush liked the cause and gives ₹10 Lakhs for 1% of the company and ₹90 Lakhs at 0% interest for 1 year. Vineeta offered ₹50 Lakhs for 5% and rest as debt at 8% interest for 3 years. She adds that she would be happy to join Peyush for the deal as well which Peyush accepted and they give joint offer of exactly what Vineeta’s initial offer was.
Aman added that he knows the wearable business and can help the entrepreneurs therefore he offered ₹20 Lakhs for 1% and rest as debt at 10% for 2 years. The founders countered Aman with ₹20 Lakhs for 0.67% equity and rest as debt valuing the business at ₹30 Crores. Aman accepted that counter and they shook hands on that.
Who are the founders of Nemocare?
Manoj Sanker P R & Pratyusha Pareddy founded Nemocare. Pratyusha is from Hydrabad and Manoj is from Bengaluru.
How is Nemocare doing after Shark Tank India?
Our research in the Nemocare revealed that while they did get a deal, weather that deal went through is still unclear. We reached out to the entrepreneurs to get more updates and will update this article as soon as we hear back, in the meantime, you can check out other Shark Tank India products by clicking the Amazon button below!
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Here are updates on other companies from Season 3 Episode 43: