AI platform Mindpeers Captured Investor Attention on Shark Tank India

Mindpeers is an AI-driven platform designed to assess and enhance mental strength proactively. It evaluates individuals based on their careers, financial situations, and relationships. The company has created specialized neuroscience games and tools aimed at changing behavior and forming beneficial habits. With over 350,000 users, Mindpeers is expanding its reach worldwide.

Click here to visit their official website: Mindpeers

They are currently seeking an investment of ₹53 lakhs for a 1% stake in the business, resulting in a valuation of ₹53 crores. Mindpeers began as a marketplace for therapists but shifted its focus to its current model after receiving funding from their initial investor, Sanjay Mehta, who contributed ₹1.12 crores at a valuation of ₹33.75 crores. They are also preparing for another significant funding round.

Currently, Kanika retains 70% ownership of the company, while Sahil holds 25%. The remaining shares are distributed among financial advisors and other investors. Their flagship product is an app where users complete a questionnaire to gauge their mental strength, after which personalized recommendations are provided to enhance their initial scores. A game serves as an additional assessment tool.

Their standout feature is the Mindpeers Club, featuring six psychologists who respond to user posts within a paid service that costs ₹350 per month. As of the pitch, they have around 3,500 paid subscribers and 35,000 active users each month. Primarily, Mindpeers operates on a B2B business model. In October, they generated ₹16.5 lakhs in revenue, with ₹10 lakhs from B2C and the remainder from B2B. They recently launched their B2B model and have already secured contracts worth ₹22 lakhs from various companies.

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Sahil Chitkara and Kanika Agarwal are the founders of Mindpeers, a company located in Delhi. Kanika completed her graduation in 2013 and spent 13 years living in Singapore. During her career, she has worked at major companies like Google and Microsoft. Additionally, she launched a services business that achieved impressive success, reaching ₹90 Crores in revenue within just two years. Kanika later made a profitable exit from that company, selling her shares for $1.1 million. On the other hand, Sahil has dedicated his career to working in various startups since finishing his education.

Peyush was the first investor to make an offer that completely matched what the founders were looking for: ₹53 Lakhs for a 1% stake in their company. Following him, Namita and Vineeta also matched his offer. Namita mentioned that she could contribute her knowledge in healthcare, while Vineeta said she could help with brand building, both of which were important to the founders when they presented their idea.

Aman showed interest in teaming up with Namita and Vineeta, and they agreed to work together. On the other hand, Anupam found the business idea interesting but didn’t fully understand the application, so he decided to withdraw from the investment.

Then, Aman asked Peyush if he would like to join their combined offer. Peyush adjusted his proposal to say he would invest ₹53 Lakhs for 1% on his own and another ₹53 Lakhs for 1% from the group of Aman, Namita, and Vineeta. The founders were quick to accept this new offer without any hesitation, showing they were excited to partner with these investors.

Our investigation into the company showed that their deal with the Sharks was finalized after the show was broadcasted. Following their session, the founders posted some valuable insights from Peyush on Instagram, which included: 1. Focus on what the customers want, 2. Keep things straightforward; don’t complicate matters just to appeal to investors, and 3. Emphasize building a strong company culture.

Shark Tank India presents a vibrant platform for aspiring entrepreneurs to pitch their ideas to influential investors, seeking the support and resources necessary to grow their businesses.