- Founder: Amey Desai
- Business: Medical Equipment
- Ask: ₹50 lakhs for 1.5% equity
- Valuation/ Networth: ₹33.33 Crores
- Funding: ₹50 lakhs for 2.3% equity
- Sharks: Aman Gupta and Anupam Mittal
- Episode: Season 3 Episode 14
WALK Shark Tank India Pitch:
WALK’s founder shared that over 10 lakh Indians are suffering due to Parkinson’s disease. 90% of Parkinson’s patients are over 60 years of age. Sometimes, these people feel what’s called Freezing of Gait, which is a brief episodic absence of forward progress of the feet despite the intention to walk. The loss of balance due to this can lead to serious injuries, including death.
To help people with these problems, Amey founded WALK. Also, It is India’s first mobility aid that helps with Freezing of Gait experienced by patients suffering from Parkinson’s disease. Further, the founder shared that It uses haptic technology, which is battery-powered. Finally, The founder sought an investment of ₹50 lakhs for 1.5% of the company, valuing the business at ₹33.33 crores.
WALK is piloted on over 150 people and achieves 80% efficiency. The device is recommended after a series of tests like counting, navigating the maze, etc. WALK devices are programmed based on those results. Also, They have 5 neurologists on the advisory panel. Moreover, The company just received funding in the form of a grant from BIRAC. They have received a total of ₹1.67 crores through grants in the funding.
The useful life of WALK’s product is between 2-5 years, and it is priced at ₹36,000. The manufacturing cost, however, is at ₹10,000. They are projecting to sell 700 devices in the first financial year, which would be FY24-25.
WALK Shark Tank India Negotiations & Funding:
Namita goes out of the WALK negotiations due to a lack of trust in the product and a lack of data in the technology. Amit gives the first offer of ₹50 lakhs for 5% of the company, valuing the business at ₹10 crores. Vineeta commented that she doesn’t invest in pre-revenue companies, but she wanted to be part of this; therefore, she made the exact same offer as Amit. Aman and Anupam join hands to offer ₹50 lakhs for 5% of the company as well.
Vineeta revised her offer to 4%, which Anupam & Aman matched right away. Amit revises his offer to ₹50 lakhs for 3.5%, raising the valuation to ₹14.29 crores. Aman and Anupam matched that as well. Amey takes a moment to think and comes back with a counter of ₹50 lakhs for 2.3% of the company, valuing his business at ₹21 crores. Amit and Anupam/Aman all wanted to accept that counter. The founder ended up going with Anupam and Aman, and they shook hands on ₹50 lakhs for 2.3% of the company.
Who is the founder of WALK?
Amey Desai founded WALK. He is from Mumbai. Amey has done engineering from BITS Pilani, Goa.
How is WALK doing after Shark Tank India?
Our research on WALK revealed that their Shark Tank India deal with Anupam and Aman was successfully finalized and closed after their episode was shot. Not only that, as of February 2024, WALK is available for preorder through the company’s website. They also added a couple of other devices available to order through their website.
As of now, the financials of this company are not public as they are still pre-revenue, but we will update this article as soon as more information comes to light. While their product is unavailable on Amazon, you can check out other products by clicking the Amazon button below.
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Source: Instagram @lifesparktechnologies
Here are other companies from Season 3 Episode 14.