Radhika Gupta is drawn to Nemocare pitch due to her long-standing neck issue
New Delhi, March 21 (IANS) The latest episode of ‘Shark Tank India 3’ featured a pitch by Nemocare, unveiling their innovative healthcare device for newborns. Nemocare Raksha is the world’s first clinical-grade wearable device that tracks seven vital parameters in real-time. Founded by Pratyusha Pareddy and Manoj Sanker, the startup aims to prevent neonatal and maternal deaths in developing regions since 2016.
Based in Hyderabad and manufactured in Bengaluru, Nemocare’s commitment to innovation is evident in its product design and functionality. During the pitch, the founders emphasized the need for accessible healthcare solutions due to the scarcity of incubators in tier two and tier three cities. With an ask of Rs 1 crore in exchange for 2.5 per cent equity, Pratyusha and Manoj presented their vision to the Sharks on the show.
Radhika Gupta, MD & CEO of Edelweiss Mutual Fund, shared a personal anecdote highlighting the importance of Nemocare’s device, while Ritesh Agarwal, Founder and CEO of OYO Rooms, praised the founders for their noble initiative. However, after considering the pitch, Radhika and Ritesh decided not to invest due to various reasons, offering their best wishes for the startup’s progress.
Peyush Bansal, Co-founder and CEO of Lenskart.com, and Vineeta Singh, Co-Founder and CEO of SUGAR Cosmetics, made separate offers to invest in Nemocare. Aman Gupta, Co-Founder and CMO of boAt, also extended a proposal to support the startup. Eventually, the founders secured a deal with Aman for Rs 20 lakh for 0.67 percent equity and a debt of Rs 80 lakh at a 10 percent interest rate for two years on the show.
Reflecting on their ‘Shark Tank India 3’ experience, Manoj expressed gratitude for the opportunity to showcase their mission of ending neonatal deaths on a global platform. He emphasized how the show helped them refine their vision, validate their product, and receive valuable feedback from industry experts. The founders are now more determined to push boundaries and save lives, fueled by the momentum gained from the show. ‘Shark Tank India 3’ airs on Sony LIV platform.
