Decode Age Has Raised ₹1 crore for 2.25% equity from Shark Tank India Season 3. Pitchers made an ask for ₹1 crore for 1.25% equity. Anupam Mittal invested in this startup. And the deal was done with ₹1 crore for 2.25% Equity + 1% Royalty until ₹1.5 crore Is Recouped.
About the Decode Age:
Decode Age utilizes cutting-edge science to develop premium supplements for longevity. Through meticulous research and top-quality ingredients, each formula provides essential nutrients for optimal aging. Additionally, Decode Age offers comprehensive health tests and personalized consultations through its online Functional Medicine Health Advisory service.
Decode Age goes beyond commerce to build a community, offering scientifically proven tips, actionable strategies, and expert tools. The brand’s dedication to social impact is demonstrated through its scholarship program and efforts to enhance overall well-being.
About the Founders:
The Founders of the business are Parth Amin, Darshit Patel and Rakesh Somani. Parth Amin has studied Network Engineering from Natubhai V Patel College of Pure and Applied Science. He has also been the founder of Decode Age, Wowl Cloud Ops LLP and City Broadband.
Darshit Patel holds an MSc from Edinburgh Napier University. Studied Drug Design and Biomedical Science, Pharmaceutics and Drug Design and graduated with a Bachelor of Science – BS Chemistry from Fergusson College. Then he graduated in Bioinformatics from Bharati Vidyapeeth. Apart from this, he has also done a vocational course in Biotechnology from Savitribai Phule Pune University. He has worked in Bharati Vidyapeeth in various roles.
Rakesh Somani has done courses on Business Administration and Management from various universities. He has received certifications in this subject from the Indian Institute of Management Bangalore, University of California, Berkeley, Yokohama National University, McGill University and Lancaster University. He was a director of Sumicot Limited before the Decode Age.
Decode Age Business Statistics:
Decode Age was started in August 2021 and now it has 20 thousand customers. Decode Age Product has a range of 10 SKUs. They started the business with an initial investment of ₹1 crore. The global market size of MNM is $500 million, which will be approximately ₹4156 crore.
They take a test, in which several pieces of evidence are examined to determine the biological age, which costs ₹ 20 thousand. They have also prepared cheap alternatives and some reports for this investigation. Better solutions can be provided through their research. Currently, their annual income run rate is ₹11 crore. Monthly burn is Rs 8 lakh to Rs 9 lakh. ₹1.13 crore was raised in Oct’22 at ₹60 crore valuation.
Business sales are primarily driven by supplements, constituting 93% of its revenue, while DNA and biological tests contribute 7%. With a cost of goods sold (COGS) of 30%, the company maintains a gross margin of 70%. However, despite these figures, the EBITDA for fiscal year 2023-24 until October stands at -10%. Notably, the EBITDA on supplements alone is recorded at 10% during the same period.
The equity structure indicates minimal dilution, with only 1.9% equity distributed thus far, while the remaining equity is evenly divided among the three founders. Parth Amin, Darshit Patel, and Rakesh Somani each hold 32.7% equity in the company.
The Business Vision of Decode Age:
The Decode Age founders, each with unique skills, are reshaping longevity sciences. Darshit Patel specializes in computational drug design and bioinformatics, Parth Amin draws from telecom and healthcare experiences, inspired by Yoga and Ayurveda, while Rakesh Somani brings entrepreneurial expertise and a passion for optimal health, bridging business with biohacking. Decode Age’s vision is to enhance lifespan by leveraging medical science data to provide innovative solutions.
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