Shark Tank India Season 3, episode 38 of Shark Tank India, entrepreneurs Manjeet Singh and Amit Bhayani entered the den seeking investment for their venture, FlexifyMe. FlexifyMe is a platform designed to address chronic pain management, a growing concern in India and globally.
Read more:- Creme Castle Shark Tank India Season 3
FlexifyMe Pitch
Manjeet Singh, one of the founders, began by expressing their honor at being on the show. He emphasized their passion for creating a solution that improves people's lives through chronic pain management. Singh and Bhayani aimed to showcase FlexifyMe's vision and the impact it can create for a global audience.
FlexifyMe Ask From Shark Tank
The FlexifyMe team entered the Tank seeking an investment of Rs 1 Crore for a 2% equity stake in their company on the valuation of 50 Crores. This highlights their confidence in FlexifyMe's potential for growth and profitability.
The Deal
While the specific details of FlexifyMe's product or service weren't revealed on the show, the Sharks were impressed by the concept of addressing chronic pain management. After deliberation, Namita Thapar, one of the Sharks, emerged as the investor for FlexifyMe.
The final deal saw FlexifyMe securing an investment of Rs 50 Lakhs from Namita. However, the structure of the deal was unique. It included a combination of equity and debt. Namita offered 1.32% equity in FlexifyMe for the Rs 50 Lakh investment, along with an additional debt component of Rs 50 Lakh. This debt portion comes with an interest rate of 10% and a repayment period of 2 years.
Read more:- Karibo Cosmetics shark tank india
FlexifyMe's Future
With this investment from Shark Tank India, FlexifyMe has secured valuable capital to further develop its chronic pain management solution and potentially expand its reach. The unique debt component provides additional funding without significantly diluting the founders' equity stake. This deal structure allows FlexifyMe to focus on growth while managing its cash flow.
Conclusion
Whether FlexifyMe lives up to the promise it presented on Shark Tank India remains to be seen. However, the company's mission to address chronic pain management and the strategic deal they secured have positioned them for an exciting future.