Is Vivalyf Innovations out of business after Shark Tank India?

• Founder: Duvvuru Varshita & Vimal Kumar
• Business: Prickless Diabetes Testing Machine
• Ask: ₹56 lakhs for 7.5% equity
• Valuation/Net worth: ₹7.46 Crores
• Funding: ₹56 lakhs for 33.33% equity
• Sharks: Anupam Mittal and Peyush Bansal
• Episode: Season 1 Episode 8

VivaLyf Innovations Shark Tank India Pitch:

VivaLyf Innovations, a Hyderabad-based startup featured in Season 1 Episode 8 of Shark Tank India, is dedicated to addressing complex healthcare issues through the integration of science and technology. Seeking to extend human life through Medtech and Healthtech, the company requested ₹56 lakhs for 7.5% equity.

Their product was at the pre-clinical evaluation stage at the time of the pitch, and to launch the product in the market, they came to Shark Tank to get the connections and funding from sharks. Their product, which goes by Easylyf, is a non-invasive, no-pain, and no-blood device to check the body’s glucose levels. They had 90% accuracy figures at the time of the pitch. They have a grant of ₹7.5 lakh from the government of India and no other investments.

VivaLyf Innovations Shark Tank India Negotiations:

Namita comments that it’s going to be a long project, and the chances of success are not that high. Looking at Namita, Aman also follows her lead, citing that he doesn’t understand the market fully, so he steps out of the deal as well. Ashneer, citing concerns about accuracy, goes out of the deal.

Peyush was also skeptical of the accuracy claims but said that he is willing to take a flyer and offer ₹56 lakh for a third of the company. Anupam joins Peyush’s offer as well. Peyush said he can relate personally because his mother is pre-diabetic, and he can relate to the cause, and he doesn’t care if their current accuracy figures are at 50% because he knows it’s going to take time to solve this issue.

The founders take a moment to think and come back to counter for ₹36 lakh for 15% of the company and the rest as a debt, which they would repay in 3 years. Sharks declined that offer and stuck with what they initially offered. The company accepted that offer without hesitation.

Who are the founders of VivaLyf Innovations?

Duvvuru Varshita & Vimal Kumar founded VivaLyf Innovations. Duvvuru is a Type 1 diabetic and had traumatic experiences due to her condition. This also pushed her to research and find a solution for this. Vimal is an Engineer and loved the idea. Duvvuru has cleared the AIEEE, IIT, and JEE exams. She went to IIT and dropped out after 11 days.

How is VivaLyf Innovations doing after Shark Tank India?

Our research in the company revealed that their Shark Tank India deal with sharks did indeed close. The company made lots of headlines after the show aired, and Duvvuru’s courage and confidence inspired the entire country. Unfortunately, on the business side, things didn’t go very smoothly. As Namita pointed out the company had a long road ahead and success chances are low, we determined with all the information available on the web currently that the company is out of business. While we still believe that Duvvuru is working on finding a solution for this problem, the company’s socials have gone dark as of February 2023, and there have been no updates ever since.

We will update this article as more information comes to light.

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Source: Vivalyf Innovations Instagram

Here are other companies from Season 1 Episode 8.