Keto India
Initial Ask – Rs.1.5Cr. for 1.25% equity at a valuation of Rs. 120 Cr.
About the Company
With an aim of reversing diseases like Type-2 diabetes, PCOS, hyperthyroidism and obesity, Keto India has been founded for providing the patients with correct nutrition, supplementation and clinical trial. Their processes involve filling out the form with all the relevant information at the website, making payments and then being suggested nearest protocols for the remedy, thus creating a personalised experience. As and when more data is fed into the system, they make their operations richer and modify the protocols as needed. They follow Ketogenic Diet process, which is why the name: Keto India.
For people having strong opinions against Keto, they have another website: livofy.com, where their further questions are answered. It is a subscription based model for 1, 3, 6 and 12 months, which is aiming to grow big by ‘show and tell’ scheme to scale themselves. They already have monthly active users near to 45000, which converts to 200 paying customers on a monthly basis.
Past performance of the Company
They provide services both in India and foreign countries, where the pricing patterns are different. In India, they charge Rs. 4500, 9000, 15000 and 25000 for subscriptions for 1, 3, 6 and 12 months respectively. For the same subscription plans, they charge Rs. 6000, 12000, 20000 and 25000 in foreign countries. They have till date done sales worth Rs. 2.1 Cr., out of which Rs. 15 lacs were recorded in October 2021. They are growing at a YOY growth rate of 100%
Industry Overview
The health-tech startup space has been booming in India, especially on account of this pandemic and strict lockdowns. This industry is expected to grow at a rate of 39% over FY20-FY23. This humongous figure is justified with the changing needs and preferences of the Indian consumers. Also, a widening gap between the needs of care seekers and traditional healthcare services has emerged as a major challenge, which has led to the growth of companies like Keto India.
They don’t have any direct competitor as of now. However, companies like HealthifyMe, which is working for the same cause and on the same grounds.
Offers made, and the one accepted:
Aman Gupta, Namita Thapar, Ashneer Grover and Peyush Bansal came together to give Rs. 1.6 Cr. in exchange of 16% equity of the company. However, it was denied by the founder.