An enthusiastic young entrepreneur named Anmol pitched her wearable AI tech brand Ashva on the latest episode of Shark Tank India, leaving the entire panel of ‘sharks’ impressed with her drive and determination. Anmol said that she experienced her share of weight issues, and decided to put her engineering background to use and create a tool that can assess a person’s knee joints. She created a wearable tech solution, and sold it to over 100 hospitals across the country for subsidised costs. She said that she plans on building a global brand, and asked for Rs 50 lakh in exchange of 1.25% equity, valuing her company at Rs 40 crore.
At the beginning of her pitch, Anmol said that she can provide a detailed analysis of a patient’s knees within 10 minutes, after putting them through some basic tests. Anupam Mittal volunteered, and found himself sitting on a bed with several gadgets attached to his knees. As Anupam went through one test after another, the rest of the ‘sharks’ burst out in laughter. Anupam felt embarrassed, and said, “I look like an idiot.” Namita Thapar replied, “Look? You are one.”
After testing the strength of his knees, Anmol asked Anupam to walk across the set a couple of times for a ‘gait test’. Anupam started warming up, and Anmol told him that he mustn’t do that. As the panel of ‘sharks’ laughed again, Kunal Bahl joked, “He has a prematurity problem.” After the testing round was done, Anmol told Anupam that he’s generally fit, but one of his legs is far stronger than the other. She said that this can happen because he sits cross-legged for long durations.
The ‘sharks’ all appreciated Anmol as an entrepreneur, and got down to business. She told them that the per-unit cost of her device is Rs 7 lakh, which Peyush Bansal thought was extremely expensive. Anmol also told them that she has raised over Rs 4 crore already, which impressed all the ‘sharks’. Anupam said, “Good for you tiger.” But he also spotted a flaw in her business model. He said, “You cant be a technology company that depends on people. Without a good therapist, this can’t work.”
Peyush, Anupam and Kunal Bahl all backed out of making a deal, primarily because Anmol seemed to be burning too much money. Namita backed out as well, saying that it’s too early for her to invest. But Vineeta Singh offered her Rs 50 lakh in exchange of 4% equity. Anmol gladly accepted the deal.
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