Shark Tank India: Spandan’s Rajat Jain Seals 'All Sharks Deal', Says Revenue Jumped 40x

‘Spandan’ is a small, portable ECG device weighing 12 grams, and one of the few pitches the show that succeeded in bagging All Shark Deal

New Delhi: 'Spandan' is one of the rare business proposals in Shark Tank India that not only managed to impress the Sharks, but also attracted investments to the tune of Rs 1 crore from all seven sharks in the show.

It is one of the few pitches made on the show that succeeded in bagging the 'All Shark' deal. It means that every single ‘shark’ or judges agreed to invest in the idea. All the sharks jointly offered to invest Rs1 crore in exchange for 6 percent equity of the company, as per the blog of the show’s website.

Entrepreneurs from all walks of life have presented their ideas to the panel comprising of seven sharks, who eventually take a decision to invest for a stake in the company.

Spandan, which means vibration or flutter, is a business venture from Sunfox Technologies. The company has conceptualised a small, portable ECG device weighing 12 grams.

Shark Tank India’s official Instagram account shared the experience of its founder Rajat Jain where he spoke about the kindness of the ‘sharks’ and the need for a product like Spandan in the market. He said cardiovascular diseases cause most of the deaths in the world.

While elaborating on the venture, Rajat said he and his team developed a device to help heart patients or potential heart patients. The team wanted to develop technology without a battery and radiation, and that uses an Android phone. The device also does not require internet, and you can simply connect to the smartphone.

While praising the sharks, he said the all-shark deal helped the venture take off. He added that after the deal, the lives of him and the other people behind Sunfox Technologies.

 “Our lives have changed after coming on Shark Tank India. We are receiving calls from India and all over the world. Our revenue has increased 40x. We are being reached for distribution and partnership. I thank Sony TV, Shark Tank India, and all ‘sharks’ for giving me this opportunity,” he said.

 </pThanks to #Spandan, a pocket-sized ECG device, many lives can be saved. Congratulations #Spandan on your ALL-SHARK deal! We wish you the best for your future. pic.twitter.com/SjF3Nc792q

The machine provides the result with 99.7 percent accuracy. According to a note about the company in the blog, the company in covid times have saved many lives by early diagnosis. They want to take their company to a global level.

Starting in 2106 in Dehradun, the journey was not smooth as they needed resources to develop the product. The device is operated without batteries, any radiation, and without a single switch.

First launched in Japan in 2001 as ‘Tigers of Money’ on Nippon TV, the show format was adapted by the UK in 2005 and it was called Dragon’s Den there. The US then picked it up in 2009 and is running its Shark Tank 13th season now.

The show has given chance to budding entrepreneurs to pitch their business ideas to a panel of judges, who approve their proposals for investment.

Telecasted on Sony Entertainment Television, the show in its last leg has succeeded in ‘edutaining’ its viewers with its revolutionary format, which it proudly promotes as ‘Badalte Bharat Ki Nayi Soch’.

The seven judges on Shark Tank India are Ashneer Grover of BharatPe, Namita Thapar of Emcure Pharma, Anupam Mittal of Shaadi.com, Vineeta Singh of Sugar Cosmetics, Ghazal Alagh of Mamaearth, Peyush Bansal of Lenskart, and Aman Gupta of Boat.