Pune-based HealthTech Startup FlexifyME secures Rs.1 crore in Shark Tank India
Pune based Healthtech Startup FlexifyME, which is providing a chronic pain management platform which perfectly combines physiotherapy, yoga, and artificial intelligence (AI) and deliver a customer centric approach in health and wellness segment, received 1 crore in the stage of Shark Tank India.
The company was started by Amit Bhayani and Manjeet Singh, who came to the Shark Tank India and asked for Rs. 1 crore for a 2% stake, valuing the startup at a robust Rs. 50 crore. After a long series of discussion and negotiations the founders stuck to a deal of Rs. 50 lakh investment for a 1.32% equity share alongside a Rs. 50 lakh loan at a 10% interest rate over two years, effectively valuing the company at Rs.37.88 crore, from Shark Tank Judge, Namita Thapar of Emcure Pharmaceuticals.
The health-tech platform was founded to undertake chronic pain management, where they have combined their expertise of chronic pain through an innovative blend of physiotherapy, yoga, with artificial intelligence. In its first year, they attracted over 50,000 customers, including 2,000 subscribers from more than 26 countries, demonstrating a significant market demand for innovative solutions in the chronic pain management sector.
The services can be utilized without leaving the homely comfort and it eventually attracted over 50,000 customers, including 2,000 subscribers from more than 26 countries. Chronic pain, including conditions like back pain, neck pain, arthritis, and spondylitis, represents a significant health challenge that often leads to a decreased quality of life, so they introduced this platform where people can manage their good health with any side-effects like the painkillers have.
The startup offers a subscription plan that ranges in price, with an average cost between Rs. 6,000 and Rs. 16,000 for a six-month period. This subscription includes 25 live sessions with a physiotherapist, along with a customized plan.
.jpg "Team Startupcity")
The company was started by Amit Bhayani and Manjeet Singh, who came to the Shark Tank India and asked for Rs. 1 crore for a 2% stake, valuing the startup at a robust Rs. 50 crore. After a long series of discussion and negotiations the founders stuck to a deal of Rs. 50 lakh investment for a 1.32% equity share alongside a Rs. 50 lakh loan at a 10% interest rate over two years, effectively valuing the company at Rs.37.88 crore, from Shark Tank Judge, Namita Thapar of Emcure Pharmaceuticals.
The health-tech platform was founded to undertake chronic pain management, where they have combined their expertise of chronic pain through an innovative blend of physiotherapy, yoga, with artificial intelligence. In its first year, they attracted over 50,000 customers, including 2,000 subscribers from more than 26 countries, demonstrating a significant market demand for innovative solutions in the chronic pain management sector.
The services can be utilized without leaving the homely comfort and it eventually attracted over 50,000 customers, including 2,000 subscribers from more than 26 countries. Chronic pain, including conditions like back pain, neck pain, arthritis, and spondylitis, represents a significant health challenge that often leads to a decreased quality of life, so they introduced this platform where people can manage their good health with any side-effects like the painkillers have.
The startup offers a subscription plan that ranges in price, with an average cost between Rs. 6,000 and Rs. 16,000 for a six-month period. This subscription includes 25 live sessions with a physiotherapist, along with a customized plan.
