ASHVA: Revolutionizing Muscle and Skeletal Health with AI-Powered Knee Recovery

Episode 16 | Shark Tank India Season 4

• Founder: Anmol Ajay Saxena (Young, Female)
• Location: Ghaziabad, Uttar Pradesh
• Started In: 2021
• Website: Ashva Wear Tech
• Sharks in the Panel: Vineeta Singh, Anupam Mittal, Peyush Bansal, Namita Thapar, Kunal Bahl

About ASHVA

ASHVA is a pioneering health-tech company dedicated to muscle and skeletal health. The company has developed Fitknees, an AI-powered wearable sensor system designed to enhance post-operative knee recovery. The device is prescribed by orthopedic surgeons and utilized by physiotherapists to assess the root cause of knee issues in just 10 minutes.

The Product - Fitknees

Fitknees is a clinically validated, ISO-certified, and globally patented technology available in 150+ hospitals and physiotherapy centers. It provides patients with detailed data analytics reports on their knee health.

Fitknees Package Includes:

• 4 Motion Sensors
• Charging Dock
• Accessories
• Tablet

📌 MRP of Fitknees + Fitmust Combo: ₹7.5 Lakhs + GST

Company’s Ask

The founder pitched for ₹50 Lakhs for 1.25% equity, valuing the company at ₹40 Crores.

Business Growth & Financials

Sales Over the Years

• FY 2021-22: ₹5.5 Lakhs
• FY 2022-23: ₹15.5 Lakhs
• FY 2023-24: ₹50 Lakhs
• FY 2024-25 (Till Sept): ₹44.9 Lakhs

📌 Devices Sold in FY 2024-25 (Till Nov): 16 Fitknees + Fitmust combos

Gross Margin & Profitability

• FY 2023-24: 49% Gross Margin, EBITDA: -154%, Burn: ₹77 Lakhs
• FY 2024-25 (Till Sept): 87% Gross Margin, Loss: ₹8 Lakhs
• Oct 1 - Nov 15, 2024: ₹17.5 Lakhs Profit

💰 Total Amount Raised So Far: ₹4.85 Crores

Unique Selling Propositions (USP)

• Compact & Affordable
• In-house AI Engine for Root Cause Analysis

Sharks' Responses

🚫 Peyush Bansal: Opted out, citing high product cost & early-stage challenges.
🚫 Anupam Mittal: Did not see a clear product roadmap.
🚫 Namita Thapar: Product is expensive, and valuation is too high.
🚫 Kunal Bahl: Chose to step out.

✅ Vineeta Singh: Made a founder bet and initially offered ₹50 Lakhs for 4% equity (Valuation: ₹12.5 Cr).
✍️ Final Deal: ₹50 Lakhs for 2.7% Equity + 1.3% Advisory Equity - Founder Accepted!

Final Thoughts

ASHVA is making significant strides in AI-powered knee rehabilitation. With strong hospital partnerships and clinically validated technology, the company is set to disrupt the orthopedic health-tech space. With Vineeta Singh on board, ASHVA is positioned for scaling and strategic expansion. 🚀