Image Credits: Shark Tank India
Last updated on 23 January 2022. Find out more about the Sunfox pitch on Shark Tank India for the Spandan ECG device, its founders and the latest updates from them!
Spandan (Sunfox) on Shark Tank India
Spandan is a portable ECG device that was pitched by its development team on the 25th episode in the first season.
Here are the key details about their pitch on Shark Tank India:
| Business Name | Sunfox Technologies (Spandan) |
| Founders | Rajat Jain, Arpit Jain |
| Episode no. | Season 01 Episode 25 |
| Ask | ₹1 Crore for 2% Equity |
| Accepted Offer | ₹1 Crores for 6% Equity |
| Sharks | Peyush Bansal, Vineeta Singh, Namita Thapar, Ghazal Alagh, Anupam Mittal |
| Current Status | In-business |
Sunfox Technologies is an R&D company that has made a revolutionary product in the healthcare industry: a portable ECG device. ‘Spandan’ is a pocket-size device to monitor heart activity that can be used by a regular person. They claim that it has 99.7% accuracy.
In FY 2020-21, their revenue was ₹1.2 crores. They have 2 different business models: selling the product in D2C and pay-per-use usage at a place.
Here is their main product ‘Spandan’ available on Amazon India (*Affiliate Link):
Or buy it by clicking here: https://amzn.to/33CcKrE
*Affiliate Link means that we get a certain percentage from the sale when you purchase through our link.
The founder asked for ₹1 crore amount in exchange for 2% shares.
Anupam first questioned whether it will cut the incentives for doctors, but pitchers successfully answered that it will increase footfall in clinics since the person will be more aware of his/her heart activity. This will also make people more literate about their own health checkups.
Then the sharks straight got to the main point by offering an ‘all-sharks’ joint deal for 6% equity.
In the end, all 5 sharks, Peyush Bansal, Vineeta Singh, Namita Thapar, Ghazal Alagh and Anupam Mittal closed the deal for ₹1 crores for 6% stakes in the company.
About the Founders
Rajat Jain is the main founder and Managing Director of Sunfox Technologies. Arpit Jain is the other co-founder but he didn’t appear on the show.
Their R&D organization was started in 2016 in Dehradun, Uttarakhand. The prototype was ready by 2017 and then they did complete testing. It took them 2 years to get to a proper final device and get approval from all authorities to bring it to the market.
We also found the video when they presented to the Indian PM Narendra Modi in 2018:
The other 3 people we saw with Rajat were his team members: Saurabh Badola (Software Lead), Nitin Chandela (Technical Lead) and Sabit Rawat (Marketing Lead).
After Shark Tank Updates
It is rare to see an ‘all-sharks’ deal but I think this product deserved it. As Namita said, “it will be a complete game-changer for the world“.
Another important thing you need to know about their startup is that they are a part of the ‘Startup India’ initiative and supported by Graphic Era University, Dehradun.
By the way, other businesses in this episode we saw were Paws India & Alpino Foods.
Here is the official Sunfox Tech’s pitch: “With the aim of creating innovative technologies for a better and sustainable future, Sunfox Technologies was established in 2016 as a Research and Development Lab in the Himalayan state of Uttarakhand. Our vision to bring the reliable technologies related to Biomedical Instrumentation, IoT and other engineering domains is serving the Indian markets and International clients with fervour.”
Takeaways
So now you know about Spandan’s pitch on the Shark Tank India show and what they are doing nowadays.
I am Ranish Chauhan a.k.a. Fulmino Fan, and I am also a fan of Shark tank.