What is Scintiglo?
Scintiglo is a medical device that identifies kidney problems early. One can easily use the machine and get the result within 2 seconds.
Scintiglo has a mobile application also. The app generates medical reports that can be shared with anyone instantly.
Who is the Founder of Scintiglo?
Dr. Pankaj Parashar is the founder of Scintiglo. It’s a product of “Cutting Edge Medical Devices Private Limited”.
Pankaj always had a fascination for medical technology. He did a Ph.D. in biomedical engineering at IIT Delhi.
Scintiglo Before Shark Tank India?
He made the first prototype in 2013. He started the company and took grants from the Government. He raised some funds from some well-wishers and some HNI. After working 7 years, in 2020 he got all the regulatory clearances.
More than 70 labs are using this device. Scintiglo is renting the device to these labs. It takes a security deposit money. For each test, they charge the lab ₹200.
Dr. Pankaj is also making a smaller device targeting households. The main revenue will come from selling the reagents.
How much money did he ask for on the pitch?
He came to Shark Tank India seeking ₹75 Lakhs for 1% equity in the company Scintiglo. Which gives the company a valuation of ₹75 Crores.
How to use Scintiglo?
Using the Scintiglo device is really easy. First, one needs to take a urine sample. Then there’s a reagent provided by Scintiglo that needs to be mixed with the urine sample. One sample needs 5 drops of reagent. One reagent bottle is sufficient for 50 tests.
Then insert the urine sample inside the box. Start the device. You can give it an identification number. After that, it will show you the result.
The device is their patented technology. The reagent is their trade secret. The test is 95% accurate.
Using the mobile application, one can easily generate a report. One can pay in the application too.
Price of Scintiglo
|Security deposit for labs
What are the Annual Sales of Scintiglo?
In 3 months, Scintiglo only made ₹40000 in sales.
Which shark gave Scintiglo an offer?
Namita Thapar was interested in the product. She offered him ₹50 Lakhs for 10% & ₹25 Lakhs debt at 12% interest. She valued the company ₹5 Crores.
Peyush Bansal was out. He didn’t have any expertise in this particular sector, and he thought Namita gave a good offer.
Ashneer Grover was out. He thought Namita gave a fair offer.
Aman Gupta was out. He was impressed with Dr. Pankaj. He thought Namita would be the perfect shark for this deal.
Anupam Mittal was out.
|Namita Thapar – ₹50 Lakhs for 10% & ₹25 Lakhs debt at 12% interest
What deal did Scintiglo get in Shark Tank India?
Scintiglo didn’t get any deal in Shark Tank India.
|Dr. Pankaj Parashar
|₹75 Lakhs for 1%
|Company Net Worth
What is the net worth of Scintiglo?
The net worth of Scintiglo is ₹75 Crores according to Dr. Pankaj.
Is Scintiglo still in Business?
Yes, Scintiglo is still in the healthcare business.