Neuphony makes headgear to measure stress levels in your brain and gives suggestions to decrease them, but in the bid to invest in this company, the stress levels of the sharks shot up.
Ironical isn’t it?
Neuphony is the beginner pioneer of the Neurotech industry in India. Like how the smartwatch revolutionized the physical health industry, similarly, Neuphony is geared to revolutionize the mental health industry.
Neuohony currently they have two products:
- Neuphony Flex Cap (This needs to be pre-ordered)
Both these products have EEG sensors that measure brain frequency, similar to how ECG measures the heart rhythm.
EEG can tell us a lot about the state of our brain. The sleeping state, relaxed state, focus levels, etc.
This device tracks our stress, attention, focus, and mood. It gets connected to your phone or desktop and gives you the data through their app.
If our levels are dismal on regular basis, it also motivates us to meditate, do breathing exercises, listen to music, etc.
It monitors monthly and weekly brain activity and if your brain activity is in an extreme situation, it also gives you an alert to visit the doctor.
Their device showed 98% accuracy when they measured 14 people with their device against the gold ECG device used by Neuroscientists.
At ₹49K their products are pretty expensive, the reason behind their high price is the EEG sensors which have to be imported because they are not manufactured in India.
Bhavya Madan and Riya Rustagi are the founders of Neuphony. They are from New Delhi, met in college, and eventually got married.
They started working on this product in 2019. The main reason behind making this product was the loss of Riya’s sister due to a brain infection.
In 2016 Riya’s younger sister got a brain infection that went undiagnosed for 9 months, the doctors had established her condition as cervical pain. When she was hospitalized, all her bodily functions were normal. In fact, she went walking to the hospital.
Unfortunately, I week later she was in semi-coma condition, then she lost all her cognition and was paralyzed, followed by which she passed away at the age of 25.
Riys has dedicated this bussiness to her. This heart-touching story moved sharks and Namita applauded her for her courage and strength.
Neuphony Shark Tank India
The founders had asked for ₹1 crore for 2% equity at ₹50 crore valuation.
When they appeared in Shark Tank India they were focusing on the B2B category.
Vineeta was not able to decide whether it is gimmicky or a life-changing technology and she backed out.
Namita and Anupam gave a joint offer of ₹1 crore for 6.66% equity at ₹15 crores valuation, to match their previous funding round.
Aman and Peyush asked them if they are open to working more on their product and changing their business model from B2B to B2C. The founders agreed and they both matched Nmaita and Anupam’s offer.
They further tried to entice the founders by telling them that in the future they might need more money for product development, which both of them are willing to invest in.
This did not go down well with Anupam and he accused Aman and Peyush of making false promises. A full-blown shark fight took place between Anupam and Aman.
The founders gave the counter offer of ₹1 crore for 5%. Which Namita did not accept.
Peyush gave another offer of ₹1 crore for 5.4%equity and pressurized the pitchers to take the decision ASAP.
The founders agreed to them and the deal went to Aman and Peyush.
Where Can You Find Them
Isn’t it cool to have a product that can quantify our stress, focus, and mood levels? We do hope that the founders can bring the cost significantly down to make it affordable for the masses.
This could have the potential to save a lot of people from mental health issues. Do let us know your opinions about it.
You might also be interested in reading our reviews on: