Ashva on Shark Tank India : Founder Quit Ford Motors to Fix Knee Pain
Three points you will get to know in this article:
- Ashva’s Fitknees detects knee health issues in just 10 minutes.
- Founder Anmol Saxena was inspired by personal and family health challenges.
- Secured ₹50 lakh funding for 4% equity on Shark Tank India.
About Ashva’s Fitknees
Ashva, India’s knees are shaking—literally. With over 6 crore Indians diagnosed with osteoarthritis each year and 2.5 lakh undergoing knee replacement surgeries annually, knee health is a growing concern. Enter Ashva, a revolutionary startup that offers cutting-edge medical devices designed to assess and improve knee health with precision and ease.
Click here to visit their official website : Ashva
Founded by Anmol Ajay Saxena, Ashva made waves on Shark Tank India Season 4, where it showcased its groundbreaking product Fitknees, an AI-powered wearable device that diagnoses knee health in just 10 minutes.
Journey Behind Ashva’s Creation
For Anmol, Ashva’s story is deeply personal. Her inspiration stems from her own struggles with knee pain during her college weight-loss journey, as well as her mother’s 8-year battle with chronic knee issues requiring physiotherapy.
Anmol’s journey to creating Fitknees began during a college hackathon, where she conceptualized the device. While others around her pursued conventional job roles, she was determined to turn her idea into reality.
Post-college, she joined Ford Motors to earn and save money, but her entrepreneurial dream never wavered. After working for 2.5 years, she quit her job to meet 75 physiotherapists and orthopaedic surgeons, observing over 30 live surgeries to understand the practical needs of her product.
How Fitknees Works
Ashva’s flagship product, Fitknees, combines artificial intelligence with user-friendly technology to diagnose and track knee health.
Features of Fitknees
- Quick Diagnosis: Provides accurate results in just 10 minutes.
- Comprehensive Kit: Includes 4 motion sensors, a charging dock, and a tablet.
- User-Friendly Design: Built for ease of use in hospitals and physiotherapy centers.
Fitknees is paired with another device, Fitmust, for more comprehensive analysis. Together, the two products cost ₹7.5 lakh.
A Growing Market for Knee Health Solutions
Ashva is addressing a critical need in India’s healthcare landscape, where knee issues are often overlooked until they require surgical intervention.
The company’s devices are already being used in 115+ orthopedic hospitals and physiotherapy centers, including renowned names like Apollo, Manipal, and Aster Hospitals.
Ashva Pricing Strategy
- Fitknees and Fitmust Combo: ₹7.5 lakh.
- Standalone Fitmust Device: ₹85,000.
While the price point is premium, the value offered in terms of advanced diagnostics and patient outcomes has driven steady adoption.
Ashva’s Financial Growth: From Losses to Profitability
Ashva’s journey has been a rollercoaster of challenges and milestones.
- 2021–22: ₹5.5 lakh in sales
- 2022–23: ₹15.5 lakh in revenue
- 2023–24: ₹50 lakh, with a loss of ₹77 lakh
- 2024–25 (Till September): ₹45 lakh
- with losses reduced to ₹8 lakh
Ashva achieved profitability in October–November 2024, generating ₹17.5 lakh in sales during this period.
Ashva on Shark Tank India: A Pitch to Remember
Anmol’s pitch on Shark Tank India captured the attention of the sharks with its innovative approach and personal backstory. Asking for ₹50 lakh in exchange for 1.25% equity, she highlighted Ashva’s potential to transform knee health diagnostics.
While impressed, many sharks opted out:
- Shark Piyush Bansal, Anupam Mittal, Namita Thapar, and Kunal Shah declined to invest, citing scalability concerns.
Shark Vinita Singh’s Offer for Ashva
Vinita, however, saw the potential in Anmol’s vision. She offered ₹50 lakh for 4% equity, a deal that Anmol accepted, valuing the mentorship and financial backing that would help Ashva scale.
Overcoming Challenges in the Medical Startup Space
1. Breaking Into a Niche Market
Knee health diagnostics is a relatively untapped market in India, requiring both education and awareness to drive adoption.
2. High Initial Costs
With a price tag of ₹7.5 lakh for its flagship products, Ashva’s success depends on convincing hospitals and clinics of the long-term value.
3. Funding and Profitability
Having raised ₹4.85 crore (including ₹72.5 lakh as a grant), Ashva has navigated its way through initial losses and is now poised for sustainable growth.
What Sets Ashva Apart?
- Fitknees is ISO-certified and backed by clinical validation, ensuring its reliability and effectiveness.
- Anmol’s dedication to observing surgeries, consulting experts, and refining her product reflects her unwavering commitment to quality and innovation.
- With quicker recovery tracking and improved diagnostics, Fitknees is making a tangible difference in patients’ lives.
Future Plans for Ashva
- Expand its presence in more hospitals and physiotherapy centers across India.
- Develop additional products to address other orthopedic health concerns.
- Achieve ₹74 lakh in sales for 2024–25, building on its recent profitability.
Lessons from Ashva’s Journey
- Ashva’s success underscores the importance of creating solutions for overlooked health concerns.
- From observing surgeries to pitching on Shark Tank, Anmol’s determination has been key to Ashva’s growth.
- Ashva’s focus on clinically validated, reliable products has earned the trust of leading hospitals.
Ashva is more than just a startup—it’s a movement to improve knee health awareness and care across India. By combining innovation with a deeply personal mission, Anmol and her team are setting a new benchmark in medical technology.
With its success on Shark Tank India and a clear roadmap for the future, Ashva is poised to revolutionize the way we think about orthopedic health.
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