Entrepreneur Name;- Ravjot & Pranav
About the Entrepreneur;- The founders of this startup are Ravjot Singh Arora and Pranav Bajaj, who both come from Delhi and were introduced to each other through a mutual friend.
Pranav began his career at Zomato, a startup company, in 2012.
Meanwhile, Ravjot completed his schooling in Delhi before pursuing engineering in Faridabad. He also became involved in his family’s Nike shoe business.
The idea for the startup was born from Navjot’s personal experience of losing his grandfather due to inadequate ambulance service.
The two founders have split the company’s equity equally, with each holding a 50% stake.
LinkedIn Profiles
| Ravjot | https://www.linkedin.com/in/ravjot-singh-arora-5502449a/ |
| Pranav | https://www.linkedin.com/in/pranav-bajaj-b7757191/ |
| Brand Name– | Medulance |
| Brand Website- | https://medulance.com/ |
| Business Category– | Emergency Response Service Provider |
| Company Valuation– | ₹100 Crore |
| Equity Asked– | ₹2 Crore for 1% Equity |
| Deal Closed– | Yes |
| Final Shark Tank Deal– | ₹2 Crore for 2% Equity |
| Target City/Country- | INDIA |
| Product/Services– | Emergency Response Service Provider |
About the Product;- Medulance is a company that utilizes innovative helpline and backup technology to dispatch an ambulance in an average time of 20 minutes. It has partnered with various corporate entities to provide three distinct subscription services:
MeduERS
- This service offers stationed ambulance services, meaning an ambulance is already located on-site and ready to provide immediate assistance.
MeduClinic
- This service sets up medical rooms staffed by doctors and paramedics in residential areas or other locations for the provision of basic life support and first aid services.
MeduAlert
- This subscription service is tailored to corporate employees and their families, providing a unique ambulance or helpline number for each organization.
Conclusion;–
Ravjot & Pranav asked for ₹2 Crore for 1% Equity but ended up closing the deal at ₹2 for 2% Equity with Sharks Namita, Aman, and Peyush.
