Startup The Renal Project has raised INR 1 crore for the equity of 6% from Shark Tank India. Sharks Namita Thapar CEO and co-founder of Emcure pharmaceuticals, CEO and boat Aman Gupta invested in it.
Nowadays, kidney-related diseases have significantly increased in India. Kidney patients need to get dialysis several times a month to remain healthy. And this startup has the solution the resolve this dialysis issue.
The startup owner Mr Shashank Modhia is a Biomedical engineer who asked for INR 1 crore for the equity of 3%. Asher counter offers 1% equity for 25 lakhs rupees and 75 lakhs rupees on loan with a 12% interest rate for a five-year term. Namita counters with a 10% equity offer for one crore rupees. Peyush Bansal backed himself. Anupam was unable to invest in this venture due to financial constraints. For that 10% equity for one crore rupees, Aman joins forces with Namita. Namita rescinded her offer of 8% equity for one crore rupees. Pitchers counter with a counteroffer of 6% equity for 1cr. Ashneer counters are available for INR 50 lakhs for 2% equity and 50 lakhs for 12% interest. Namita and Aman sealed the agreement for one crore rupees in exchange for a 6% stake in the company.
About The Renal Project
Shashank Modhia earned his master’s degree from Texas in the United States. He has been there for the past ten years. He previously worked for a dialysis equipment manufacturer. The Renal Project, highlighted on Shark Tank India’s Episode 14, is all about bringing dialysis to tiny villages, towns, and even talukas where people had to travel 100-200 kilometres to the metropolis for treatment. Kidney failure is a serious worry. People who suffer from this life-threatening kidney disease live in distant areas where it is tough for family members to transport the patient to the city, causing stress, mental strain, and an increase in the overall cost of treatment. They began with one centre in 2019 and have since expanded to 21 locations across Pune, Mumbai, Thane, and Nashik. They have served over 1000 patients, and their goal is to open 1000 dialysis centres. It can be done at home as well.
Problem Solved By The Renal Project
As it is portable dialysis equipment, you can take it anywhere. The device’s price is low, so even poor people can access it. As the availability of equipment is more so that it can be installed at the remote areas as well.