Their mission is to create affordable and efficient prosthetic arms, inspired by Rishi’s personal experience of losing his right arm in a bus accident at the age of 24.
Brand Overview
Symbionic focuses on developing advanced prosthetic arms that are both affordable and effective.
The founders aim to empower individuals with disabilities by providing them with high-quality prosthetics that enhance their quality of life.
Shark Tank India Appearance & Ask
In the latest episode of Shark Tank India, dubbed the “Divyang Special,” Rishi and Niranjan presented their startup and sought an investment of ₹80 lakh for 2% equity, valuing their company at ₹40 crore.
They shared Rishi’s emotional journey following his accident and highlighted their innovative product, the Titan Bionic Arm.
Season and Episode Air Date
Season: 04
Episode: 52
Episode Air Date: Tuesday, 18 March 2025
Product Overview
Symbionic’s product line includes adaptable prosthetics designed to assist amputees in performing various tasks.
They are also researching advanced bionic arms as a cost-effective alternative to imported models.
Investor Reactions
The Sharks had mixed reactions during the pitch.
While Srikant Bolla, Anupam Mittal, and Aman Gupta opted out due to concerns about launching a pre-revenue product, Namita Thapar recognized the potential in Symbionic and chose to invest, emphasizing her belief in the founders’ determination and innovation.
Customer Engagement Philosophy
Symbionic engages customers by focusing on creating products that the founders themselves would use.
Rishi emphasized that he would never sell a product he wouldn’t personally use, ensuring authenticity in their offerings.
Product Highlights
The Titan Bionic Arm is an upcoming innovation aimed at providing functionality and comfort.
Each product is designed with adaptability in mind, catering to various needs of amputees.
Future Vision
The founders envision launching their products soon while continuing to innovate within the prosthetics industry.
Their journey reflects resilience and a commitment to improving the lives of individuals with disabilities through accessible technology.
Deal Finalized or Not
The deal was successfully finalized with Namita Thapar, who offered ₹40 lakh for 2% equity and an additional ₹40 lakh as debt at 10% interest for three years.
The Symbionic founders counter-offered, and Namita agreed to their terms, marking a significant milestone for Symbionic.
Medium-Term (2026–2027): Develop VR-based training for amputees, reduce production costs below ₹1 lakh per unit
Long-Term (2028–2030): Capture significant market share, and expand globally through healthcare partnerships
Symbionic Shark Tank India Business Plan
Business Potential in India
Market Size: The Indian ortho and prosthetic devices market is valued at over $450 million, growing at a CAGR of 30% annually.
Upper Limb Prosthetics Market: In 2023, the market generated $7 million in revenue and is expected to reach $12.2 million by 2030, growing at a CAGR of 8.1%.
Medical Devices Industry: The overall medical devices sector in India is estimated at $11 billion, projected to grow to $50 billion by 2025, with a CAGR of 15%.
Total Addressable Market (TAM)
The global robotic prosthetics market size was valued at $1.4 billion in 2022, growing at a CAGR of 10.1%.
Symbionic targets amputees in India, where prosthetic arms are the largest segment, accounting for over 31.43% revenue share in 2023.
Affordable pricing (₹2 lakh compared to ₹8–10 lakh for imported models) positions Symbionic to capture a significant share of this underserved market.
Income Level: Middle-class individuals seeking affordable solutions
Location: Urban and semi-urban areas
Interests: Accessibility, functionality, and affordability in medical devices.
Content Strategy
Share Rishi’s personal journey to build emotional connections.
Showcase product features like AI-based pattern recognition, rotatable wrists, and individual finger control.
Publish educational content on prosthetics and their benefits.
Digital Marketing Strategy
Improve SEO performance for the website (currently attracting only 828 visitors/month).
Utilize Google Ads targeting keywords like “affordable prosthetic arms” and “bionic arms in India.”
Leverage social media platforms (LinkedIn, Instagram) for awareness campaigns.
Distribution Strategy
Direct-to-consumer sales via the website.
Collaborate with hospitals and clinics to set up 3D mapping and printing capabilities.
Partner with NGOs like Mukti for outreach programs.
Advantages
Affordable pricing compared to imported models (₹2 lakh vs ₹8–10 lakh).
Customizable design ensures comfort through 3D mapping.
Lightweight bio-grade materials enhance usability and longevity.
AI-powered functionalities improve grip and ease of use.
Challenges
Pre-revenue status may deter investors.
Limited brand recognition due to poor SEO performance.
Competition from established players like Ottobock and Open Bionics.
Reasons for Success
Growing demand for affordable medical devices in India.
Emotional connection through Rishi’s personal story enhances brand trust.
Support from Namita Thapar and Jeet Adani provides credibility and resources.
Mitigation Strategies
Launch products quickly to address pre-revenue concerns.
Invest in SEO improvements to increase organic traffic.
Collaborate with doctors and NGOs for wider distribution.
Future Business Roadmap
Short-Term Goals (2025)
Commercially launch Titan Bionic Arm.
Expand partnerships with hospitals for 3D mapping facilities.
Medium-Term Goals (2026–2027)
Develop VR-based training platforms for amputees globally.
Scale production to reduce manufacturing costs below ₹1 lakh per unit.
Long-Term Goals (2028–2030)
Capture a significant share of the Indian upper-limb prosthetics market.
Expand globally by partnering with international healthcare organizations.
Symbionic’s innovative approach to creating affordable, functional prosthetic arms positions it as a key player in India’s medical devices industry, with substantial growth potential driven by rising demand and inclusive entrepreneurship initiatives.
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