What Happened to Mindpeers After Shark Tank India?
What is Mindpeers?
Mindpeers is an AI platform that asses your mental health and help you improve your mental health and wellbeing. The platform has different neuroscience games. It has many behavior-changing & habit-forming tools also.
Who is the Founder of Mindpeers?
Kanika Agarwal & Sahil Chitkara are the founders of MindPeers.
Kanika Agarwal spent 13 years in Singapore. She founded another company called Passion Peers in 2017. She took a financial exit of $1.1 million from that company at the age of 27. She’s no longer involved in that company.
Sahil Chitkara previously worked in multiple startups. He worked in a gaming startup and, a music startup.
Kanika owns 70%, and Sahil owns 25% of the company. Different financial advisors have 5% equity.
Mindpeers Before Shark Tank India?
Till now Mindpeers has 350k users. They are expanding their operations in Singapore, the USA, UK. They are basically becoming a global player.
How much did they ask for in the pitch?
They came to Shark Tank India seeking ₹53 Lakhs for 1%. Which gives the company a valuation of ₹53 Crores.
How much money did they raise for Mindpeers?
They completed 1 round for Mindpeers. They raised ₹1.12 Crores at ₹33.75 Crores valuation.
How to use Mindpeers?
You download the Mindpeers application on your phone. It will ask you 14 different questions. After you answer all the questions, it will tell you how strong you are mentally.
Depending on your answers, Mindpeers will give you a couple of tools to play with. This will be a mixture of tools and games. Upon using them, you can improve your mental strength more.
There’s also a Mindpeers club where you can vent out anonymously. You can share your feelings and thoughts. No one will judge you.
On top of that, some actual psychologists will answer your queries. Currently, 6 psychologists are working on this application.
Unit Economics of Mindpeers
The monthly subscription fee for using the application is ₹350 per month. Mindpeers has 3500 paid users. The founders are putting more focus on growing their B2B side of the business.
What is the Annual Sales of Mindpeers?
Their monthly sale is ₹16.5 Lakhs. Among that ₹10 Lakhs is coming from B2C. And ₹6.5 Lakhs is coming from B2B.
Which shark gave Mindpeers an offer?
Peyush Bansal was impressed and gave the 1st offer. He gave them the exact thing they asked for, ₹53 Lakhs for 1%.
Namita Thapar & Vineeta Singh also offered the same as Peyush.
Aman Gupta was impressed and joined Namita, Vineetas deal.
Anupam Mittal was also impressed with the founder. But he didn’t quite like the application. Also, he wondered whether people would use it in the long run or not. That’s why he didn’t give any offer.
| Offer 1 | Offer 2 | Offer 3 |
| Peyush Bansal – ₹53 Lakhs for 1% | Namita Thapar & Vineeta Singh – ₹53 Lakhs for 1% | Peyush Bansal, Aman Gupta, Namita Thapar & Vineeta Singh – ₹1.06 Crore for 2% |
Peyush Bansal joined Namita, Vineeta & Aman. Now the offer was ₹53 Lakhs for 1% for Namita, Vineeta & Aman & ₹53 Lakhs for 1% for Peyush Bansal.
What deal did Mindpeers get in Shark Tank India?
Mindpeers got a deal from Peyush Bansal, Aman Gupta, Namita Thapar & Vineeta Singh. The deal was ₹1.06 Crore for 2%.
| Company Name | Mindpeers |
| Founder | Kanika Agarwal & Sahil Chitkara |
| Asked Amount | ₹53 Lakhs for 1% |
| Final Deal | ₹1.06 Crore for 2% |
| Sharks | Peyush Bansal, Aman Gupta, Namita Thapar & Vineeta Singh |
| Company Net Worth | ₹53 Crores |
| Company Website | www.mindpeers.co |
| Company Status | In Business |
What is the net worth of Mindpeers?
Currently, the net worth of Mindpeers is ₹53 Crores.
Is Mindpeers still in Business?
Yes, Mindpeers is still improving people’s mental strength and doing their business.
