SharkStartupProduct.com

Fupro on Shark Tank India Season 4 Got deal | 60 Lakh for 4%

1/22/2025

Fupro: Affordable Prosthetics Revolutionizing Healthcare on Shark Tank India

About Fupro

Fupro is a healthcare brand dedicated to delivering high-quality, affordable prosthetics through innovative research and cutting-edge technology. The company, based in Mohali, Punjab, was co-founded by Cyril Joe Baby (young, male) and Nimish Mehra (young, male).

Fupro’s mission is to make prosthetics accessible to all by offering products that are 50–80% cheaper than international benchmarks without compromising quality. Their products also cater to specialized healthcare needs, including vision and hearing solutions.

Unique Offerings

Grace Foot

  • Made with a special elastic material for spring-like functionality that replicates natural foot movements.
  • Enables daily activities like walking and workouts.
  • Price: ₹24,000 (with metal adapters).

SACH Foot

  • The best-selling product in Fupro’s lineup.
  • Price: ₹3,000.
  • Contributes 20% of the company's total sales.

Product Portfolio

  • Fupro has 20 products, all designed and manufactured in-house.
  • 5 products are patented.
  • Products are 10–15% cheaper than other Indian brands.

Achievements and Recognition

  • Recognized as one of the “Top Startups to Look Out For” at BioAsia 2018.
  • Awarded ₹25,000 from Quest Global and ₹1 lakh in grants from VIT Vellore.
  • Won an award at MIT for its innovative prosthetics prototype.

Financial Highlights

Revenue

  • FY 22–23: ₹2.16 Cr
  • FY 23–24: ₹2.5 Cr
  • FY 24–25 (Projected): ₹5 Cr (₹1.48 Cr achieved till September 2024)

EBITDA

  • FY 22–23: 15%
  • FY 23–24: 0.3%
  • FY 24–25 (Projected): 20%

Gross Margin

  • 45%

Inventory

  • ₹50 Lakh

Equity Split

  • Ashmeet Kaur (Third Co-Founder): 40%
  • Nimish Mehra: 35%
  • Cyril Joe Baby: 25%

Note: Ashmeet Kaur did not participate in the pitch.

Shark Tank India Pitch

Ask: ₹60 Lakh for 1% equity (Valuation: ₹60 Cr)

Sharks Present:

  • Namita Thapar
  • Anupam Mittal
  • Ritesh Agarwal
  • Aman Gupta
  • Kunal Bahl

Offers and Negotiations

  1. Kunal Bahl:

    • Offered ₹2 Cr at a ₹20 Cr valuation with the condition that Ashmeet Kaur's 40% equity be reduced to 25%, with the remaining 15% split equally between Cyril and Nimish.

  2. Namita Thapar and Ritesh Agarwal (Joint Offer):

    • ₹60 Lakh for 5% equity (Valuation: ₹12 Cr).

  3. Aman Gupta:

    • ₹60 Lakh for 3% equity (Valuation: ₹20 Cr).

Final Deal:

  • ₹60 Lakh for 4% equity, jointly offered by Aman Gupta, Namita Thapar, and Ritesh Agarwal.
  • Founders accepted the deal.

Road Ahead

Fupro plans to:

  • Expand its product line to include solutions for vision, hearing, and other healthcare needs.
  • Utilize Machine Learning (ML) and Artificial Intelligence (AI) for enhanced product designs.
  • Aggressively grow in the Indian prosthetic market, valued at ₹15,000 Cr.

With its innovative products, affordable pricing, and focus on quality, Fupro is set to transform the healthcare prosthetics industry in India.

← Back to Blogs