Subhag Shark Tank India Pitch:
Subhag is an Indian startup which produces the world’s first home IUI kit to resolve challenges around privacy, affordability and accessibility in getting help with couples’ infertility. IUI is done in three steps, the first step is to track Ovulation followed by Sperm preparation and then the final stage of Insemination. The IUI kit comes with Ovulation Strip to track insemination day, VConceive which is a soft cup to perform Insemination and Androwash which is used for sperm washing. VConceive & Androwash are patient granted.
The Research and development of the product was done in Germany. Subhag has no competition in India at the time of pitch. The MRP of IUI kit was set at ₹8000 and the selling price was at ₹5000. The cost of the Kit is at ₹500. They are available in 20 Hospitals and over 300 clinics. They have Efficacy of 16% in one attempt. Subhag have sold 3500 units of VConceive and 20 Units of Androwash so far. They company has been in business since May 2020 and have sold 0 units in last month due to regulatory changes.
Subhag clocked revenue of ₹37 Lakhs in their first financial year which was FY20-21. This was followed by a growth rate of 40% to ₹52 Lakhs in FY21-22. The founders shared that they have done ₹12 Lakhs year to date for FY22-23 till their time of the pitch in November 2022. Vikram holds 65% of the equity in the company with Sohan and Chandan at 4% and 2% respectively. Subhag was raising a pre series A round of ₹8 Crores at ₹50 Crore valuation which this investment from sharks will be part of. They raised their last round at ₹30 Crore valuation where they raised ₹1.5 Crores.
Subhag Shark Tank India Negotiations & Funding:
Anupam commented, he liked the market but didn’t feel like Vikram was fully in as he was still living in Germany. Due to this reason, He goes out of the negotiations. Peyush loved the innovation but he wasn’t aligned the way Vikram was running the business and went out of the deal as well. Aman shared the same sentiment as Anupam and went out of the negotiations due to the founders not being all in on their business.
Vineeta puts out the first offer of ₹50 Lakhs for 1.67% which gives them a valuation of ₹30 Crores. Namita felt like there was lot of work which needed to be done therefore she wanted to come at ₹20 Crore valuation. She offered ₹20 Lakhs for 1% of the company and the rest as debt at 10% interest. The founders take a moment to think and comes back to accept Namita’s offer of ₹20 Lakhs for 1% of the company and rest as debt.
Who are the founder of Subhag?
Sohan Sahu, Vikram Rajput and Chandan Prasad founded Subhag. Vikram and Sohan are from Raipur Chattisgarh and Chandan is from Jharkhand. Vikram is IIT Kharagpur graduate and worked in several multinational companies in the design field. Sohan also went to IIT Kharagpur and has 17 years of experience in past.
How is Subhag doing after Shark Tank India?
Our research in the company revealed that despite their initial agreement on Shark Tank, Their deal with Namita Thapar did not close after the show. Despite that as of December 2023, The company is still in business and growing. Their kits can be purchased through Amazon and through their own website.
Source: LinkedIn @subhag
Here are other companies from Season 2 Episode 45.
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