How Neuro-technology Startup Neuphony Captured Hearts on Shark Tank India

Neuphony shark tank india

Three points you will get to know in this article:

  • Neuphony makes EEG headsets for brain research and wellness, founded by Ria Rustagi and Bhavya Madan.
  • They sought ₹1 Crore for 2% but got ₹1 Crore for 5.4% from Aman and Peyush on Shark Tank.
  • Company sold 40 devices at ₹49,000 each, aiming for ₹5 crores revenue in FY22-23.

Neuphony In Shark Tank India

Neuphony

Neuphony is an innovative company that creates wearable EEG headsets aimed at brain research. Established in April 2022, Neuphony specializes in developing cutting-edge, dry, and wireless EEG headsets, along with their supportive software, which serve neuroscience and brain-computer interface (BCI) research, as well as cognitive wellness programs and brain training centers. Their products provide real-time access to EEG data, enabling users to control various applications and machinery.

Click here to visit their official website: Neuphony

Founders of Neuphony: Ria Rustagi & Bhavya Madan

Ria Rustagi & Bhavya Madan founded Neuphony. They were both 28 years old at the time of the pitch and came from New Delhi. They have known each other for 11 years and got married last year.

Neuphony Business Statistics

In August 2022, they sought an investment of ₹1 Crore in exchange for a 2% stake in the company. Their app measures Personalized Data Recovery (PDR), mood, and focus, including a relaxation graph feature. Neuphony boasts an impressive 98% accuracy rate, validated through testing on 14 individuals with a gold-standard device. At the time of their pitch, they faced no competition in India. The headset is priced at ₹49,000 and is primarily aimed at businesses and corporations. So far, they have sold approximately 40 units of their product. The founders announced that they successfully secured ₹2.5 Crores in funding, leading to a post-money valuation of ₹17.5 Crores. They were experiencing a monthly burn rate of ₹12 lakhs and had a cash runway of ₹1 Crore. For the fiscal year 2022-2023, their revenue projection was set at ₹5 Crores.

What Problem Neuphony Solves?

Neuphony Business focuses on improving mental health by looking at how our minds and emotions work, along with our social interactions. They aim to create a tool that helps with mental health, kind of like how treatments exist for heart problems.

Neuphony is a special device from India that can be worn, and it helps people understand how their brains work. It’s designed to help you manage stress and prevent burnout, which is when you feel very tired and overwhelmed by life’s demands.

The device works by using techniques like meditation, music, and breathing exercises to help calm your mind. It also monitors your brain activity in real-time, which means it tracks how your brain is functioning right now.

Neuphony After Shark Tank India

When Neuphony was on the show, they had a deal with two investors named Aman and Peyush. However, the deal didn’t actually happen after the show ended. Bhavya, a representative of Neuphony, talked about this on their YouTube channel. She mentioned that the investors even offered them a better deal with more money after checking things closely—but Neuphony decided not to accept it. Despite not getting the deal, Neuphony is still doing well as of May 2024. They have stuck to their original plan for selling their products and are now selling them on their own website and on Amazon.

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