Life Spark Technologies “Walk” Has Raised ₹50 lakh from Shark Tank India Season 3. Shark Anupam Mittal and Shark Aman Gupta invested in this startup. The pitchers made an ask of ₹50 lakh for 1.5%. And the deal was done with ₹50 lakh for 2.3%.
About Life Spark Technologies “Walk”:
Life Spark Technologies Walk is India’s first wearable mobility aid, which helps with Parkinson’s Disease and Freezing of gait. It is a wearable assistive device, which helps neurological patients to walk.
The device provides muscle strength to reduce freezing and decrease slowness, which greatly aids walking activities. In this technology, data is collected about the patient’s activities, which helps the patient maintain balance while making the necessary adjustments to remain active.
It is made of Haptic Technology and is a battery-powered device. The pitcher said that after understanding the specific frequency and vibration pattern closely along with the personalized calibration of the patient, he has organized the solution to provide a suitable solution.
About the Founder:
The founder of the company is Amey Desai. Amey Desai has done Bachelor of Engineering from Birla Institute of Technology and Science, Pilani. Life Spark Technologies Walk Device has made devices for Parkinson’s Disease and Neurological diseases.
Life Spark Technologies “Walk” Business Statistics:
In India, 10 lakh people suffer from Parkinson’s Disease and 90% of them are above 60 years of age. Its pilot testing has been done on about 150 people and 80 percent efficiency has been found. He has certified all his procedures with the advice of 5 doctors. Till now he has done a lot of work for the business by taking grants and has presented this solution which is useful for 2 to 5 years. Currently, it comes at a price of ₹ 36000, but they plan to increase it further by renting it for some time or even selling it in sharing for any special need. He had received a grant of ₹1.67 crore from BIRAC, with which he has done all the work of the business.
It takes ₹ 10 thousand to make it and the target is to sell 700 devices by FY 2024 – 2025.
The Business Vision of Life Spark Technologies “Walk”:
Life Spark Technologies Vision is to provide healthcare solutions to neurological diseases such as Parkinson’s Disease and Stroke. If this vision of the business is fulfilled, there can be a revolution in the medical field and this business can become a bigger business than its monopoly.