“Thank You for Making This Product” – Vineeta on HealthFab’s Period Panties on Shark Tank India

The menstrual hygiene market is filled with sanitary pads, tampons, and menstrual cups, yet millions of women still face issues related to comfort, cost, and sustainability. HealthFab, a startup from Assam, is challenging the norm with its innovative product, Go Pad Free reusable period panties.

Founded by Kirti Bikram Acharya, Sourav Chakraborty, and Satyajit Chakraborty, HealthFab aims to:

• Reduce dependency on disposable menstrual products.
• Offer a leakproof, reusable alternative to traditional pads.
• Make menstrual care more comfortable and sustainable.

The founders believe that modern menstrual hygiene solutions should prioritize both convenience and affordability. But was this concept enough to impress the sharks on Shark Tank India?

Related: High-school dropout inspired by 3 Idiots pitches innovative cooling vest on Shark Tank India, but Namita Thapar says ‘it’s too early to invest’

The three co-founders met while working in Pune. They noticed a gap in the menstrual hygiene market—women needed an alternative to constant pad changes, discomfort, and waste generation.

Their solution is a 2-in-1 period panty that acts as both underwear and a built-in pad, capable of:

• Absorbing up to 30ml of liquid.
• Providing leakproof protection without pads, tampons, or cups.
• Lasting up to 50 washes, making it cost-effective.

With this idea in mind, HealthFab was born, and the team began manufacturing in-house.

But was the market ready for such a change?

Despite the challenges of introducing a new concept, HealthFab’s numbers showed strong demand and steady growth.

HealthFab’s Annual Sales

• FY19-20: ₹3 lakh
• FY20-21: ₹73 lakh
• FY21-22: ₹1.1 crore
• FY22-23: ₹3.3 crore
• FY23-24: ₹8.34 crore
• FY24-25 (Till Sep): ₹4.8 crore (Projected: ₹11 crore)

The brand’s revenue trajectory impressed the sharks, but there was one problem—the company had lowered its prices, causing a slight dip in profitability.

Recent Growth Trends

• July 2024: ₹95 lakh
• August 2024: ₹77 lakh
• September 2024: ₹80 lakh

HealthFab originally sold its period panties for ₹799, but to make them more accessible, they slashed the price to ₹500.

The company’s long-term vision? Sell three panties for ₹500, making reusable period wear a mainstream alternative.

However, some sharks felt this pricing could impact the brand’s long-term profitability.

Would this affect their chances of securing an investment?

The founders walked into Shark Tank India asking for ₹1 crore in exchange for 3% equity, valuing the company at ₹33 crore.

While the sharks appreciated the innovation, their reactions were mixed.

• Shark Namita wasn’t a fan of the product and decided to step out early.
• Shark Vineeta Singh praised the innovation but had concerns about consumer adoption. She initially offered ₹50 lakh for 1.75% equity and ₹50 lakh as a loan at 9% interest.
• Shark Aman Gupta He liked the business model but wanted to team up with shark Vineeta for a joint offer. Together, they offered ₹1 crore for 3%
• Shark Piyush matched the ₹1 crore for 3% equity offer, leading to a bidding war.
• Shark Anupam Mittal made a strong counteroffer—₹2 crore for 6% This move attracted multiple sharks into a potential joint deal.

After intense negotiations, the founders secured a ₹2 crore deal in exchange for 7% equity from the 4 sharks, Aman Gupta, Anupam Mittal, Piyush Bansal, and Vineeta Singh, each contributing ₹50 lakh.

This meant:

• The company gained four high-profile investors with diverse expertise.
• They raised double their initial ask, giving them more resources to scale.
• A valuation of approximately ₹28.57 crore was set based on the final deal.

With this investment, HealthFab was ready to take its brand to the next level.

Despite initial hesitations, the sharks saw potential in HealthFab due to:

1. A Rapidly Growing Market: The demand for sustainable menstrual products is increasing.
2. Strong Sales Performance: ₹8.34 crore in revenue proved market acceptance.
3. A Clear Expansion Plan: The founders aimed to make the product more affordable and accessible.

With a ₹2 crore investment and four sharks on board, HealthFab now has the resources to:

1. Improve Product Design

• As the sharks said, the products look ugly, and they are working on better design.

2. Strengthen Marketing

• Raise awareness about reusable period solutions through targeted campaigns.

If executed well, HealthFab could become a market leader in sustainable menstrual hygiene.

For entrepreneurs preparing to pitch on Shark Tank India, HealthFab’s experience offers key takeaways:

1. Market Validation Matters: Strong sales numbers increase investor confidence.
2. Pricing Strategy is Critical: Lowering prices can boost accessibility but affect profits.
3. Strategic Partnerships Can Drive Growth: A multi-shark investment brings diverse expertise to scale the business.

HealthFab entered Shark Tank India with a mission to revolutionize menstrual hygiene. While some sharks were skeptical, the founders proved their business had real potential.

By securing ₹2 crore from four sharks, they positioned themselves for mass expansion.

If they execute their plans well, Go Pad Free could become India’s go-to reusable period solution, offering women comfort, sustainability, and affordability.