The Sunfox Technologies PVT. LTD has raised INR 1 crore for the equity of 6% from Shark Tank India. The company manufactures portable and pocket size ECG devices. It was an all shark deal. Sharks peyush, Namita, Anupam, Vineeta and Ghazal, invested in this.
The original ask by the pitchers was INR 1 crore for the equity of 2%. Then all sharks jointly countered the offer of 1 crore for the equity of 6%, and the deal was finalized at INR 1 crore for the equity of 6%.
About Sunfox Technologies
Rajat Jain, Nitin Chandola, Sabit Rawat and Saurabh Badola are the owners of this startup. They are from Dehradun, Uttarakhand.
Every year, over 20 lakh individuals in India die of heart attacks, with one out of every four people dying of a heart attack. The fundamental cause is that the appropriate treatment is not provided at the appropriate time. As a result, the gadget Spandan, a pocket-sized ECG gadget that anyone can use anytime, and is compatible with cellphones, was born. The machine delivers a result that is 99.7% accurate. Early diagnosis has saved many lives in recent years. They aim to expand their business internationally.
The company is worth 50 crores rupees. They gave a demonstration of the ECG device Spandan. Spandan is available on Amazon and e-med platforms such as 1mg. They have a website of their own. The sales for the fiscal year 2020-21 were 1.20 crore rupees. Their monthly internet sales total Rs.5 lakhs rupees. The asking price for a single ECG device is Rs.8000. They received funding from the Indian government’s Department of Science and Technology. They’ve also received 3.5 crore rupees in private funding. The CEO owns 36% of the company, the CFO owns 34 %, the tech team owns 10% of the company, and investors own 20%.
Problem Solved By Sunfox Technologies
Most people can’t detect their heart problems in time and dies. This device can help monitor and detect heart rate and related heart diseases. This device is available at a very affordable price. Every person can buy it. The main problem Sunfox solved is it is a pocket-sized ECG device so that people can carry it in their pockets ad take it everywhere. It is a life-saving ECG device. The device operates without batteries, radiation, or even a single switch to have no side effects on the body.