What Happened to Eva Scalp Cooling System After Shark Tank India?
What is Eva Scalp Cooling System?
Eva Scalp Cooling System is a treatment that helps cancer patients from losing their hair. This treatment runs alongside cancer chemotherapy treatment.
Eva Scalp Cooling System is a product of Stemtech Medical Devices.
Cancer patients lose their hair due to chemotherapy treatment. These patients lose their confidence afterward without hair. That’s why 8% of cancer patients don’t opt for chemotherapy. They want to save their hair.
But how does the system work?
Eva Scalp Cooling System uses a special cooling system. This way it maintains the temperature level of hair follicles. Thus, patients don’t lose their hair.
Who is the Founder of Eva Scalp Cooling System?
Raghuveer Surupa is the founder of Eva Scalp Cooling System. He’s from Hyderabad. He’s been working in this sector for the last 8 years. He worked at Pfizer.
Eva Scalp Cooling System Before Shark Tank India?
He started the company in 2020. Only 3 companies in the world have managed to make this product. Stemtech Medical Devices is one of them.
It’s a device that needs to be placed in the hospitals. Only cancer specialists can prescribe this treatment. And after prescribing, nurses can administrate the treatment.
Raghuveer has worked with 12 hospitals in 5 states. More than 1000 sessions have been conducted.
How much money did he ask for on the pitch?
He came to Shark Tank India seeking ₹30 Lakhs for 1.2% equity in the company Eva Scalp Cooling System. Which gives the company a valuation of ₹25 Crores.
How much money did he raise for Eva Scalp Cooling System?
He raised ₹2.5 Crores in total.
| Time | Money Raised | Valuation |
| July 2021 | ₹25 Lakhs | ₹12 Crores CAP |
| July 2022 | ₹75 Lakhs | ₹10.9 Crores |
| May 2023 | ₹1.5 Crores | ₹17 Crores |
How to use Eva Scalp Cooling System?
Eva Scalp Cooling System can be placed between 2 beds. It can serve 2 patients at the same time. Nurses can select age, gender, and cancer type in the device.
The treatment can be divided into 3 parts.
- Pre-infusion treatment
- Infusion treatment
- Post-infusion treatment
There are also 2 caps. The first one is a cool cap. It will keep the entire head cool. The second cap is an insulation cap. It gives adequate pressure. The treatment reduces the scalp temperature from 35 degrees to 17 degrees.
Have you ever wondered why chemotherapy destroys hair follicles?
Well, chemotherapy is designed to destroy the fast-growing tumor inside one’s body. While destroying the tumor, it also destroys the hair follicle which is the 2nd fastest-growing organ in the human body. That’s why it destroys the hair mistakenly.
Unit Economics of Eva Scalp Cooling System
| Brands | Price |
| Eva Scalp Cooling System | ₹13 Lakhs |
| Other 2 Brands | ₹24 Lakhs |
| User | Price |
| Hospitals | ₹1500 ~ ₹4000 per user per session |
What are the Annual Sales of Eva Scalp Cooling System?
| Fiscal Year | Annual Sales | Expense | Loss |
| 2022 – 2023 | ₹22.5 Lakhs | ₹1 Crore | ₹77.5 Lakhs |
| 2023 – 2024 | ₹59 Lakhs to date | ₹85 Lakhs | ₹26 Lakhs |
Which shark gave Eva Scalp Cooling System an offer?
Aman Gupta offered him ₹30 Lakhs for 2% equity in the company Eva Scalp Cooling System.
Namita Thapar joined the offer with Aman Gupta.
Ritesh Agarwal offered him ₹30 Lakhs for 1.2% equity, just the thing Raghuveer asked for.
Anupam Mittal was out. He thought the TAM of the business was small.
Vineeta Singh was out.
| Offer 1 | Offer 2 |
| Aman Gupta & Namita Thapar – ₹30 Lakhs for 2% | Ritesh Agarwal – ₹30 Lakhs for 1.2% |
What deal did Eva Scalp Cooling System get in Shark Tank India?
Eva Scalp Cooling System got a deal from Aman Gupta, Ritesh Agarwal & Namita Thapar. The deal was ₹30 Lakhs for 1.8% equity in the company.
| Company Name | Eva Scalp Cooling System |
| Founder | Raghuveer Surupa |
| Asked Amount | ₹30 Lakhs for 1.2% |
| Final Deal | ₹30 Lakhs for 1.8% |
| Sharks | Aman Gupta, Ritesh Agarwal & Namita Thapar |
| Company Net Worth | ₹16.67 Crores |
| Company Website | evascalpcooling.co.in |
| Company Status | In Business |
What is the net worth of Eva Scalp Cooling System?
After the Shark Tank India deal, the net worth of Eva Scalp Cooling System is ₹16.67 Crores.
Is Eva Scalp Cooling System still in Business?
Yes, Eva Scalp Cooling System is still in the cancer patients hair saving industry.
