InnerGize: Revolutionizing Stress Relief with Innovative Technology | Shark Tank India EP5

In Shark Tank India Episode 5, a Delhi-based startup, InnerGize, wowed the sharks with its groundbreaking solution for daily life stress. The pitch showcased an innovative device that offers instant relief from stress, backed by science and technology. Here's a closer look at this exciting product and how the founders secured a deal with the sharks.

The Sharks

• Ritesh Agarwal (Founder of OYO)
• Kunal Bahl (Co-founder of Snapdeal)
• Iqbal Azhar (Founder of YAP)
• Vineeta Singh (Co-founder of SUGAR Cosmetics)
• Aman Gupta (Co-founder of boAt)

Meet the Founders of InnerGize

• Dr. Siddhant Bhargava (Young Male Founder)
• Shamli Kadu (Young Female Founder)
• Mitansh Khurana (Young Male Founder)

The founders hail from Delhi and have developed InnerGize to help individuals manage stress, a growing concern in today’s fast-paced world.

The Product: A Game-Changer in Stress Management

InnerGize is a clinically validated stress-relief device that promises instant relief. The device works by stimulating the Vagus nerve to enhance stress resilience. By activating the parasympathetic nervous system, it helps the user unwind and relax.

Key Features:

• Device Placement: The device is placed behind the ear, and it is controlled via a mobile app.
• Clinical Testing: Over 1,100 users have tested the device, and it has been certified by psychiatric psychologists and neurologists.
• Pre-Clinical Study: The founders emphasized that the device is backed by over 5,000 peer-reviewed studies globally, ensuring its safety and efficacy.
• Product Price: The device is priced at ₹5,000, with the box including the device, charger, and 12 patches that need to be placed behind the ear.
• Manufacturing Cost: The manufacturing cost of each device is ₹1,200.

The device is set for an upcoming launch and is poised to make a significant impact in the wellness and stress management market.

The Pitch: Seeking Investment

The founders of InnerGize came to the sharks seeking an investment of ₹54 Lakhs for 1.5% equity, valuing the company at ₹36 Crores. Despite the innovative product and clinical backing, the pitch saw a mix of interest and skepticism from the sharks.

The Offers:

• Ritesh Agarwal offered ₹54 Lakhs for 1.5% equity.
• Aman Gupta made a counteroffer, offering 2.5% for ₹54 Lakhs.
• Iqbal Azhar also showed interest, offering ₹54 Lakhs for 1.5% equity.
• Vineeta Singh chose to opt out, citing the early stage of the product.
• Kunal Bahl also stepped out, mentioning that it was too early for him to invest.

The Counter Offer and Deal Negotiations

The founders countered with a bold move, proposing ₹1.08 Crore for 3% equity to bring in all three sharks—Ritesh, Aman, and Azhar—at a valuation of ₹36 Crores.

Aman, Ritesh, and Azhar then decided to join forces, and they offered ₹1 Crore for 4.5% equity, which valued the company at ₹22.22 Crores. After further negotiations, the final deal was made at ₹1 Crore for 4.2% equity, bringing the company's valuation to ₹23.81 Crores.

Final Deal:

• Amount: ₹1 Crore
• Equity: 4.2%
• Valuation: ₹23.81 Crores
• Investors: Ritesh Agarwal, Aman Gupta, Iqbal Azhar

The Future of InnerGize

With the backing of three prominent sharks, InnerGize is set to take the stress management industry by storm. As mental wellness continues to be a top priority in today's fast-paced world, the company’s unique, clinically-backed solution has the potential to revolutionize how people manage stress.

The device’s clinically proven effectiveness, combined with the sharks' expertise and resources, makes InnerGize a startup to watch in the coming years. Will it live up to the hype? Only time will tell, but with a strong foundation and a clear mission, InnerGize is ready to make a lasting impact on the wellness industry.

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Stay tuned for more updates from Shark Tank India, as we continue to follow the journeys of innovative startups and their quest for success!