This Shark Tank India startup Easy-life has raised INR 50 lakhs for the equity of 33.33% from Shark Tank India. Sharks Peyush and Anupam invested in this Sony shark tank India startup.
Sony Shark tank India is a perfect platform for new startups. The original ask by the pitchers was INR 56 lakhs for the equity of 7.5%. Peyush and Anupam offered 56,00,000 INR for a 33.33 percent stake. Varshitha and Vimal, the cofounders, countered with a 36,00,000 INR offer for 15% stock and a 20,00,000 INR debt for three years. Peyush says that repaying the debt will be difficult because the company is now losing money. Thus he and Anupam keep to the earlier agreement. Finally, the purchase was completed, and the price was set at 56,00,000 INR for a 33.33% ownership stake.
About Vivalyf Innovations Indian Shark tank
Duvvuru Varshita and Vimal Kumar are the cofounders of this startup. Both have 50-50% of the company each. It is a Hyderabad-based startup. This is a story about overcoming your weaknesses, transforming them into strengths, and using them for the greater good of humanity. Varshitha was born with type 1 diabetes and slipped into a coma on the second day of her life. She has to take insulin every day to avoid this problem, so she teams up with engineer Vimal Kumar to create a non-painful solution. Varshitha decided at the age of ten to put an end to the pain and suffering they had to go through to monitor their sugar levels. They have also raised 7.5 lakhs rupees from Govt. of India. The device is a non-invasive, no-blood, no-pain way to assess the level of glucose in our bodies for a one-time cost. The product is currently undergoing preclinical testing. They came to the Shark Tank India platform to make it available in the market and to acquire mentor access, external access, market access, and investment.
Problem Solved by Easy Life Vivalyf Innovations
The main problem solved by Vivalyf innovation is the diabetes testing machine is entirely painless as it doesn’t require puncturing the vein to extract blood. So everyone could diagnose themselves quickly. The testing machine is low in cost so that every income group people can buy it and test it in their home. The testing machine is user friendly so that anyone can understand its working procedure.