Eva Scalp Cooling Has Raised Rs 30 lakhs From Shark Tank India S3

Eva Scalp Cooling Has Raised ₹30 lakh for 1.8% equity From Shark Tank India Season 3. Pitchers ask was for ₹30 lakh for 1.2% equity.

Eva Scalp Cooling Business Final Deal was done for ₹30 Lakh for 1.8% Equity, Valuation – ₹16.67 Crore with Shark Namita Thapar, Shark Aman Gupta, and Shark Ritesh Agrawal.

Also Read: Koparo Clean Has Raised ₹70 Lakhs From Shark Tank India S3

About Eva Scalp Cooling and the Founders:

The founder of the company is Raghuveer Surupa. He graduated with a Bachelor of Engineering (B.E.), in Electronics and Communications from Osmania University. After that, he did a Post Graduation Diploma in Management, Marketing and Operations from the Indian Institute of Management, Ranchi.

He further developed his understanding of pharmaceutical and medical products in businesses like Roche, and Pfizer for Research, Management and Licensing and Curation. Earlier, he was the founder of Dignite, which worked only for cancer patients.

In this business, he got experience in Medical Industry Business Entrepreneurship and through Stemtech Medical Devices he is presenting Eva Scalp Cooling. This business has been started in April 2020.

Eva Scalp Cooling Business Statistics:

Eva Scalp Cooling Machine is currently available in 12 Hospitals. And till now more than 1000 Scalp Cooling Sessions have been delivered to 5 states. This Eva Scalp Cooling Session takes 3 hours to 5 hours. In this effort to save hair fall of cancer patients, the Machine gives the result of -50% Efficacy. Hospitals charge ₹1500 to ₹4000 for this Eva Scalp Cooling Session. Other facilities like Eva Scalp Cooling Session are also available but their Lotus Design is patented. The price of this Scalp Cooling Machine is ₹ 13 lakh and other machines are available for around ₹ 24 lakh. Eva Scalp Cooling Machine is One Time Sale, but the Life of Cool Cap is around 50 hours and its price is ₹ 6000. A plan can be made to provide 4 Sessions Per Day through this machine.

Eva Scalp Cooling Sales were ₹22.5 lakh in FY 22 – 23, ₹59 lakh in FY 23 – 24 (Till Nov) and Projected Sales for FY 23 – 24 are ₹1.2 Crore. Eva Scalp Cooling Expenses were ₹1 crore in FY 22 – 23 and ₹85 lakh in FY 23 – 24 (Till Nov).

The business incurred a loss of ₹77.5 lahks for the fiscal year 2022-23 while recording a loss of ₹26 lakh till November of fiscal year 2023-24. The company maintains a balance of ₹1.2 crore in the bank. The gross margin for Eva Scalp Cooling stands at -85%.

The valuation stands at ₹17 crore. The company has raised funds through three rounds: ₹25 lahks in July 2021, ₹75 lahks in July 2022, and ₹1.5 crores in May 2023, totalling ₹2.5 crores in funds raised.

What Problem Do They Solve?

Eva Scalp Cooling Machine has been designed to protect cancer patients from the effects of hair loss which is common during chemotherapy and cancer treatment. Raghuveer Surupa understands the cancer treatment process and its impact on the patient. Medically, by comparing the treatment effect in the body with the regular body system, Scalp Cooling has been designed for hair loss prevention and the relief of patients along with chemotherapy.

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