- Founder: Rajat Jain
- Business: Medical Device
- Ask: ₹1 crore for 2% Equity
- Valuation/Net worth: ₹50 Crores
- Funding: ₹1 crore for 6% Equity
- Sharks: Namita Thapar, Anupam Mittal, Vineeta Singh, Peyush Bansal & Gazal Alagh
- Episode: Season 1 Episode 25
Sunfox Technologies Shark Tank India Pitch:
Sunfox Technologies is a company specializing in affordable and portable ECG devices for monitoring heart health. Their flagship product, Spandan, is a compact ECG monitor that connects to smartphones and provides quick and accurate results. Spandan has an accuracy of 99.7%, which was based on 10,000 tests. The company shared that 20 lakh people die because of heart attacks in India. The company’s mission is to make ECGs accessible to the masses and ensure no deaths occur due to preventable heart attacks in the future. They sought an investment of ₹1 crore for 2% of the company.
They are available through their own website, Amazon, and selected medical stores. Their revenue for the first financial year was ₹1.2 crores, for FY21-22. They typically have a fixed ₹5 lakh revenue. They sell the device at a retail price of ₹8000. They have two other revenue models that offer the device for free but charge a pay-per-use fee of ₹2-₹20. They have received grants from the Department of Science and Technology and Birex, totaling around ₹50 lakh rupees. They also raised private investment of around ₹3.5 crores at a valuation of ₹18.5 crores.
Sunfox Technologies Shark Tank Negotiations:
Peyush asked the entrepreneurs what they wanted from the sharks. They said they were here for expertise from Namita and D2C support from all the other sharks. They were also here for access to the people who could help them scale their business. Peyush suggested that all the sharks come together in this deal, to which all the sharks agreed. Peyush put out the offer of ₹1 crore for 6% of the company, with all sharks participating. Gazal added that this was a non-negotiable offer. The company took a moment to think and accepted the deal.
Peyush commented after everything was done that he was ready to go solo on this for as low as 3% of the company for ₹1 crore.
Who are the founders of Shark Tank India?
The founder of Sunfox Technologies is Rajat Jain. The founder grew up in a village and realized there were many deaths due to a lack of accessible healthcare. Another heartbreaking incident occurred when Rajat lost a friend, who was only 21 years old, due to a heart attack. After that, Rajat turned this into a mission to develop a device to prevent such incidents from happening again. Sunfox Technologies was started in 2016 in Dehradun. The Prime Minister even awarded Rajat for his work.
How is Sunfox Technologies doing After Shark Tank India?
After Shark Tank India, our research revealed that their deal with the Sharks did indeed close after the show. The company’s valuation grew 10 times within a year after its pitch on Shark Tank, putting its valuation at over ₹166 crores. Namita shared in a post that the company has also launched five groundbreaking products since its inception. The company’s growth has been strong since its appearance on Shark Tank India, and we will update this article once more information comes to light.
Source: Sunfox Technologies Instagram
Here are other Companies from Season 1 Episode 25.
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