The founders of P-Flow started their pitch with a very interesting line. They asked Peyush, how many times he used the washroom that day. And what was his pressure during that time? Peyush laughed and felt a bit embarrassed. But he didn’t give any answer.
The founder asked this question because many people have to face the same level of embarrassment in the hospitals every single day. Many disease diagnoses in the world require peeing. Such as repetitive urinary tract infections, prostate cancers, and male & female infertility problems.
For these diseases, doctors often recommend a test which is conventional Uroflowmetry. This test measures the flow of urine. This test basically measures the volume of urine released from the patient body, it measures the speed at which it is released, and how long the release takes.
What is P-Flow?
A patient needs to go to the hospital 2/3 times per month. That’s where P-Flow startup comes in place. This is the world’s first portable & disposable kit, which can basically replace the need for these conventional Uroflowmetry tests.
Who is the Founder of P-Flow?
How much money did they ask for P-Flow?
They came to Shark Tank seeking ₹60 Lakhs for 1% equity in the business. They both own 35% equity in the business.
Dr. Ashish Rawandale completed his schooling in Dhule, Maharashtra. He completed his MBBS in B.J. Medical College, Pune. He completed his MS at Sassoon General Hospital, Pune. He completed MCH Urology in Bombay Hospital. He completed a fellowship in Singapore.
He set up a 20-bed urology in Dhule. He later expanded that and in 2015 it was a 110-bed facility. In 2009 it was a private LTD company, Tejnaksh healthcare ltd. In 2015 it went public. Now the company’s valuation is ₹125 Crores. He’s the MD of that company. He holds 2 Guinness World Record.
- The most kidney stones removed from a single patient were 172,155 stones.
- The largest kidney removal – 2.14 kg.
They want to make this P-Flow a household item so that everyone can test it in their own comfort.
If a patient has this kit, he can do the test on his own. He doesn’t need to go to any hospital. He can also get the results on his mobile device.
How to get P-Flow?
The P-Flow kit is available on both their website and other marketplaces like Amazon. The kit comes with a nice box. Anyone can pee using a funnel that’s connected to a small container.
There’s a QR Code in the pamphlet. Upon scanning the code, a form will be opened. One can easily provide all the information in that form and attach a photograph of the container that has pee in it.
Doctors will analyze the photo and make a report on it. The accuracy level of this kit is 95% which is pretty decent.
The electronic test that people can do in a hospital costs around ₹1000 – ₹1100. But that has a lot of hassle. One has to go to the hospital, then he has to go to the lab.
Price of P-Flow
But with P-Flow which costs only ₹1000, the patient doesn’t have to go anywhere. He can perform the test on his own. Also, with 1 single kit, he can do the test 3 times. So, basically, one test is priced at ₹350.
Unit Economics of P-Flow
P-Flow Before Shark Tank India?
Till now, they have sold 650 pieces of P-Flow kits.
Currently, there are 10,000 Urologists in India. They are estimating ₹2-₹2.5 Lakhs profit per day after 3 years. This means they are assuming to have ₹5 Lakhs profit per day. It’s possible that in the future, it will become a new category and people keep using this product in their lives like they use Thermometer.
The intellectual property of this kit is under Dr. Ashish Rawandale’s name. He has 18 patent applications and 5 of them are granted.
Which shark gave P-Flow an offer?
Amit Jain & Namita Thapar gave a combined offer. They offered ₹60 Lakhs for 10% of the company. Which gives the company a valuation of ₹6 Crores.
|Amit Jain & Namita Thapar – ₹60 Lakhs for 10%
Peyush Bansal was out because the structure seemed quite confusing to him.
Aman Gupta was out because he didn’t think there was a product market fit done yet. To him, it felt like this was still a work-in-progress product.
Anupam Mittal was also out because to him it wasn’t clear what the company structure is at the moment.
They gave a counteroffer of ₹60 Lakhs for 3% of the company.
Namita Thapar gave a counteroffer of that counteroffer, she wanted to give ₹60 Lakhs for 8%. But the founders didn’t budge.
|Dr. Ashish Rawandale & Dr. Preeti Rawandale
|₹60 Lakhs for 1%
|₹60 Lakhs for 6%
|Amit Jain & Namita Thapar
|Company Net Worth
What deal did P-Flow get in Shark Tank India?
They both negotiated some terms back and forth. At last, they finalized the deal at ₹60 Lakhs at 6%. Which gives a valuation of ₹10 Crores.