Entrepreneur Name- Bhavya Madan and Riya Rustagi
LinkedIn Profile- https://www.linkedin.com/in/bhavya-madan-07/
| Brand Name– | Neuphony |
| Brand Website- | https://neuphony.com/ |
| Business Category– | Device for Health and Wellness |
Innovation;- Neuphony aims to empower devices with the ability to comprehend and treat all aspects of brain activity, akin to the way we understand and address heart-related concerns.
| Company Valuation– | ₹18.5 Crore |
| Equity Asked– | ₹1 cr for 2% Equity |
| Deal Closed– | Yes |
| Final Shark Tank Deal– | ₹1 cr for 5.4% Equity |
| Target City/Country- | Worldwide |
| Total Addressable Market- | USD 1351.0 billion by 2026 |
| Product/Services– | Brain Wearable EEG Headband |
About the Product- Distractions in our daily lives can cause interruptions in our meditation practice. Neuphony has developed a product that can be worn on the head to track stress, attention, focus, and mood, and suggest meditation, breathing exercises, and music to improve these factors.
Launched in April 2022, Neuphony aims to revolutionize the mental health industry.
The product is made of polycarbonate and ABS plastic and features EEG sensors that capture brain rhythms. Data collected by the device is sent to the user’s device.
The device calculates the baseline of the brain, the PDR (8 to 12 Hertz), and positive mood. Based on these factors, Neuphony encourages and motivates users through various phases.
The machine’s accuracy is 98%. As pioneers in the neuro industry in India, they are mainly targeting businesses and corporate.
Weekly and monthly warnings can be given based on the results so that individuals can consult a doctor when needed.
Conclusion;–
Bhavya Madan and Riya Rustagi initially asked for funding of 1 crore rupees in exchange for 2% equity in their company.
Shark Namita offered to invest 1 crore rupees for 6.6% equity at a valuation of 15 crores, which was later joined by Anupam. Peyush and Aman also made the same offer of 1 crore rupees for 6.6% equity.
However, the owners countered with an offer of 1 crore rupees for 5% equity. Peyush and Aman then made a counteroffer of 1 crore rupees for 5.4% equity.
Eventually, the deal was closed with Peyush and Aman investing 1 crore rupees for 5.4% equity in the company.
