How is P-Flow doing after Shark Tank India?

Founders: Dr. Ashish Rawandale & Dr. Preeti Rawandale
Business: Medical Device
Ask: ₹ 60 Lakhs for 1% Equity
Valuation: ₹60 Crore
Result: ₹ 60 Lakhs for 6% Equity
Sharks: Namita Thapar and Amit Jain
Episode: Season 2 Episode 15

P-flow Shark Tank India Pitch:

P-Flow is a urology innovation that provides a disposable and conventional kit for urine flow tests. P-Flow eliminates the need for patients to make 2-3 visits a month to hospitals for Uroflowmetry tests because they can perform this test at home. It is the world’s first portable and disposable test kit, which could potentially replace the traditional Uroflowmetry test. Patients can conduct the test at home, and the results will be available on their mobile phones. The company’s vision is to make P-Flow available worldwide.

P-Flow is available through the company’s website and on Amazon. They have an accuracy rate of over 95%. The average cost of P-Flow is ₹1000, which is on par with traditional tests, but P-Flow can be used three times, resulting in a cost of around ₹200 and a gross margin of approximately 80%. They have sold 650 cases so far in their own hospital and other known places. Projections for the company indicate revenue of 5 lakhs per day. This deal would require a new structure since Dr. Ashish Rawandale already had a publicly listed company with 125 crores in revenue, but all his intellectual property and patents for this product were under his personal name.

P-Flow Shark Tank Negotiations:

Amit Jain made the first offer with Namita joining because she believes this could have a global impact. However, their offer came with the condition that they needed to restructure the company and its patents. Their initial offer was ₹60 lakhs for 10% of the company. Peyush declined the offer, citing the complex company/deal structure. Anupam had the same reasons for not accepting the deal, and Aman went out, thinking that the product wasn’t a market fit yet. The company requested a moment to think about it, to which Namita added that the offer would be non-negotiable.

The entrepreneurs came back with a counteroffer of 3%. Namita rejected it and countered at 8%, which the entrepreneurs also rejected. Anupam asked if there was any room for negotiation, to which the company responded with a little. Amit suggested a final counteroffer of 6% of the company for ₹60 lakhs, and the company accepted that offer at 6%.

Did the deal with the sharks close? Let’s find out!