In the latest episode of Shark Tank India Season 4, FUPRO founders left the Sharks impressed with their product and pitch. Meanwhile, Anupam Mittal recalled a heart-wrenching incident, thanking the founders.
Shark Tank is more than a show for investors to seek investment, it is a platform for startups and innovation to grow. In the latest episode of Shark Tank India Season 4, Nimish Mehra and Cyril Joe Baby, the founders of FUPRO, appeared in the show to explain their vision behind the brand. Talking about the brand – FUPRO aims to provide affordable solutions to people by creating high-tech prosthetic products. Yes, a prosthetic is an artificial product that is used to replace a part that is missing or no longer functional.
During the pitch, explaining their developed model, the duo mentioned transforming around 15000 lives with their products. Offering 20 creative products, FUPRO has five products patented under their name. They also mentioned Anshul, a national-level mountaineer, who regained mobility and rekindled his life by using FUPRO’s prosthetic leg after losing it in an incident. While the Sharks enquired about the competition and factors that make FUPRO a unique initiative, the entrepreneur duo asked for Rs 60 lakh in exchange for 1% equity.
Citing that the duo didn’t compromise on quality, they claimed that their company’s products are 50-80% cheaper than most foreign brands, while 10-15% cheaper than Indian products. Further, Cyril explained how losing a body part causes disturbance in blood circulation, thus inviting secondary disease. He said “Your blood circulation is disturbed when the foot is removed. Gravity causes our heart to pump blood downward, but when the leg is amputated, the calf is unable to do so and there is no muscle. Your heart rate and metabolic rate rise as a result of the blood not being circulated, and you develop high blood pressure. You already have an amputation, and now the secondary illnesses are starting to appear.”
Listening to this, Shark Anupam Mittal recalled a heart-wrenching incident saying “My cousin came under a brain, resulting in losing his hands and legs. Unfortunately, I was carrying his foot in a bag thinking they might get attached again, but then he underwent a prosthetic. What you said, I just want to validate it because it is true, these things happen in reality. These are very real and genuine problems. I didn’t know he was going through all this until you educated us. I will do further research and would like to stay in touch with you for his treatment. I just want to thank you for this”.
In talking about the deal, Kunal Bahl said Rs 2 crore for 10% equity but he also put the condition that capitulation would have to be changed and the founders were not convinced by this, so it was rejected by the founders. Aman Gupta offered Rs 60 lakh for 3% equity. Ritesh Agarwal and Namita Thapar came and offered Rs 60 lakh in exchange for 5%. Finally, Ritesh, Namita, and Aman agreed to invest Rs 60 lakh for 4%, and the deal was sealed.