WeSTOCK, the health monitoring AI by the company Brainwired, has raised INR 60 lakhs for the equity of 10% from Shark Tank India. Sharks Ashneer, Namita, Aman and Peyush jointly invested in it.
The original ask by the pitchers was INR 50 lakhs for the equity of 5%. Ashneer, Aman, and Namita reject the offer of 50 lakh rupees for a 9% stake in the company. Peyush stated that he would join the other three sharks if they so desired. If not, he can come on his own and make the same offer. Pitchers counter offered 75 lakhs in exchange for a 10% stake in the company, and they wanted four sharks to join them. The four sharks have made a joint counter offer of 60 lakhs for a 10% stake in the company. Then all four sharks finally made the deal of 60 lakhs for the equity of 10%.
Brainwired is an IoT (Internet of Things) device attached to a cow’s ear and monitors the animal’s health. The information and feedback are sent to their phones via an app. This is essentially cow health monitoring equipment. Artificial intelligence (AI) and Machine Learning have also powered the device. The company wants to reach out to every farmer with livestock on their property.
Three separate components are included in the product package:
- Ear tag from WeSTOCK
- Applicator from WeSTOCK
- The WeSTOCK Reader includes a built-in weather station.
The ear tag sends all of the data to the reader, sending it to the cloud. The data is analysed by machine learning algorithms, which then display the results on the app.
The startup’s valuation is 10 crore rupees. They raised 2.25 crores rupees in the first round in 2020, with a profit of around 27 lakhs. The second valuation was roughly 5.5 crore rupees four months ago, with a profit of 50 lakh rupees. The startup employs a total of nine people. They’ve teamed up with Godrej Maxximilk Pvt. Ltd. and Tech Mahindra. In recent years, they have received orders for 400 cattle from the Maharashtra government and a project for 25 lakhs rupees from the Indian government.
Problem Solved By WeSTOCK
This app monitors the health of cows and other cattle animals. They detect illness and store it in the cloud. The proper treatment could be provided to the cattle and any farm or dairy to increase productivity. The use of AI brings added advantages in managing dairy farms.