Shark Tank India Startups

“Spandan” by Sunfox Technologies grabbed 1 Crore from Shark Tank India | Under20s

Spandan by Sunfox Technologies | SHARK TANK INDIA | STARTUPS |

This article will tell you about Sunfox technologies and their product Spandan which recently got featured in Shark Tank India. This article tells you about Sunfox Technologies, Shark Tank India, sunfox shark tank, spandan ecg, sun fox, and shark tank australia.

Company NameSunfox Technologies – Spandan
FounderRajat Jain, Saurabh Badola, Nitin Chandola, and Sabit Rawat
ValuationRs 50 Crores
Net WorthRs 3 Crore
Business CategoryECG Machines and Spandan is their core device
Funding AskedRs 1 Crore for 2% Equity
Funding GivenRs 1 Crore for 6% Equity
Investors and SharksALL SHARKS – Peyush Bansal, Vineeta Singh, Ghazal Alakh, Namita Thapar and Anupam Mittal
TV ShowShark Tank India
EpisodeEpisode 25 – Season 1
Spandan ECG Device By Sunfox Technologies in Shark Tank India

Introduction to the Pitch

This pitch is presented by the team describing the emotions of the heart when it’s happy/sad/cry how it reacts. This was a context to how a small injury to your heart can become your last injury and even can result in death. 

Rajat Jain, Saurabh Badola, Nitin Chandola, and Sabit Rawat are the founding members of this business. They belong to the State of Hills – Uttrakhand.

In India every year 20 Lakh people die because of heart attack and out of 4 the 1 death is because of a Heart attack. The reason behind this is not having proper medical equipment. There is a basic test for heart problems known as ECG and it was invented 100 years ago but today also it is very far from a middle-class man’s range. If you are unable to get ECG at the right time then you can lose your life. 

Read This- How “Paws India” in Shark Tank got funded from Shaadi.com | Under20s

What is Sunfox Technologies Shark Tank India?

BUY SPANDAN ECG DEVICE

Spandan is a pocket-size ECG device that is used by anyone anywhere without the need of a doctor. This is smartphone-compatible with 99.7% accuracy and used at home like we use BP check. 

Spandan was used during the pandemic to save many lives. They are on a global mission and wants that no one should die due to a preventable heart disease

What is their ask from Sharks?

They are in Shark tank to raise Rs 1 Crore in exchange for 2%. The company’s valuation is Rs 50 Crores.

QnA | When Sharks Asks Sunfox Technologies | Shark Tank India

SUNFOX TECHNOLOGIES | SPANDAN SHARK TANK | SHARK TANK INDIA | STARTUPS

How did they start?

There are more than 6 Lakh villages in India and health services are not reached everywhere. Founder himself raised up in village there he observed that due to absence of efficient technologies at every place many people lost their lives. This is why he decided to build a startup where they will build actually affordable cheap health devices. 

In 2016 They were not having the proper resources for making the resources but as they started growing and the Prime minister appreciated their work after that Founder’s father also said that they will sell their house for this cause.

Their vision is that no one should die because of the absence of medical equipment.

How their product is unique?

There have been many attempts and if we talk about the ECG machines in the portable segment, there are 15-20 machines already present. They have not added anything to the product which complicates the product. 

If we talk about the Spandan device there is no battery in it, no noise and even there is not a single button. The team wants to make this as simple as a thermometer.

Is 99.7% Accuracy proved?

Maximum of the devices present in the market do not have this much of accuracy. Team sunfox has also done a test on over 10,000 People to make this result of 99.7% accuracy.

Where do they sell Spandan?

This is also available on Amazon, Pharmacy E-Commerce sites, and on their own marketplaces.  If you want to buy then you can click this link to buy from OneMg (Non-Affilate Link)

What are the sales and networth of Sunfox technologies?

They have introduced this device just before the covid 1st wave and made revenue of Rs 1.2 Crores in the financial year of 20-2021. 

They get Rs5 lakhs fixed revenue from their online sales every month.

What is the cost of Spandan?

They sell the same device for Rs 8000 and they are having 2 more models in which they install devices for free of cost and then charge pay peruse. The cost of pay per use can be Rs2 to Rs 20.

They are increasing the foot for doctors instead of stealing their tests business.

How many grants they have taken from the Government?

They have taken Grant from DST – department of science and technology which is an Indian Government agency. They have received Rs 50 Lakhs of pure grant and raised Rs 3.5 Crores from a private company.

What is the equity split of this medical startup?

There are two promoters in the company and the CEO holds 36% Equity, the CFO holds 34% equity, the Tech team is having 10% and the rest of the company goes to 20% Investors

1:1 SHARKS FUNDING THIS BUSINESS | SHARK TANK INDIA

SUNFOX TECHNOLOGIES | SHARK TANK INDIA

Peyush Bansal

As you have raised a capital round earlier we all will make your offer together. This is a very rare moment in Shark Tank India.

Each shark will contribute 20 Lakhs each and will get 1.2% equity.

Offer from all 5 Sharks

ALL SHARK OFFER- Rs 1 Crore for 6% Equity.
Orignal Ask- Rs 1 Crore for 2% Equity

They said that if they will go with this offer then the previous investor will be dishonored. Vineeta said that they will handle the previous investor and here the All shark Deal got closed.

So We congratulate the team of Sunfox technologies and wish them all the best. We assure you that they will become a unicorn one day.

Don’t forget to read this!

You can read about these Sharks and How they build their Billion Dollar Brands by clicking down on their respective Shark Name.

  1. Aman Gupta-CMO and Co-Founder of boAt Headphones
  2. Ashneer Grover– Founder of BharatPe
  3. Vineeta Singh– CEO Sugar Cosmetics
  4. Anupam Mittal– CEO and Founder of Shaadi.com

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