Fupro, a cutting-edge prosthetic manufacturing company, captured the attention of both sharks and viewers during its appearance on Shark Tank India Season 4, Episode 13.
Founded in 2018 by Nimish Mehra and Cyril Joe Baby, Fupro specializes in manufacturing advanced prosthetics and assistive devices.
The Mohali based company aims to transform the medical equipment manufacturing industry with innovative technology designed to improve the lives of individuals with disabilities.
The founders ask for an investment of ₹60 lakhs for 1% equity on the show, valuing the company at ₹60 crore.
While the sharks praised the quality and innovation of Fupro’s products, Anupam Mittal raised concerns about competing offerings like Jaipur Foot and highlighted the lack of features such as shock absorbers and flexibility rotators. The founders countered by emphasizing the superior elasticity of their material, designed to replicate natural walking and running, unlike alternatives that might restrict blood flow and lead to health issues such as anxiety and heart disease.
Impressed by their response, Anupam shared a personal anecdote about a cousin who faced challenges with prosthetics but ultimately opted out, citing discrepancies between the business’s claims and its scalability.
During the pitch, the founders disclosed that a third co-founder had invested over ₹2 crore and held a 40% equity stake, raising additional concerns among the sharks.
Kunal Shah offered a conditional deal, asking for revisions to the cap table, which the founders declined, terming the request “unethical.”
Despite this, Ritesh Agarwal, Namita Thapar, and Aman Gupta made a joint offer of ₹60 lakh for 5% equity. After further negotiations, the deal was closed at ₹60 lakh for 4% equity, effectively valuing Fupro at ₹15 crore.
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Fupro is dedicated to innovation, merging state-of-the-art technology with meticulous craftsmanship to deliver high-performance, user-friendly solutions that meet international standards.
It’s mission is to empower individuals with disabilities by enhancing mobility and improving their overall quality of life.
