Vivalyf Innovations
Initial Ask – Rs. 56 lacs for 7.5% equity at a valuation of Rs. 7.47 Cr.
About the Company
Having understood the mechanism and potential, this company has come up with a no prick, no blood, no pain diabetic monitor. Currently, the product is in its pre-clinical testing stage, which has been able to achieve 90% accuracy. The product is the innovation of the owner, who has gone through this pricking and pain all her life. In need of the acceptable level of 97% accuracy as per guidelines, the ongoing work requires a lot of sample testing. Thus, still in their research stage, spectrometry based technology is used in their product.
Past performance of the Company
This is currently a non-revenue generating company.
Industry Overview
India is home to almost 77 million diabetic patients, the second-largest in the world. This is also the reason that the country holds the second largest position in the diabetes care devices market. However, the traditional pricking machine is the bygone, and this product is expected to be the new future of this industry.
However, the exercise of achieving the accuracy rate of at least 97% is necessary, as well as difficult.
Offers made, and the one accepted:
Since the company requires a lot of work to be done, Anupam Mittal and Peyush Bansal came together to offer Rs. 56 lacs for one-third portion of the company. This was countered by asking for Rs. 36 lacs for 15% equity of the company, along with Rs. 20 lacs debt for 3 yrs. However, the deal was closed at the original offer only.