Amey Desai Walk impressed all the sharks on the Shark Tank Season 3. His claims to be the only player in the market with Parkinson’s wearable mobility device created eagerness among the sharks to know more about the investment opportunities in this field. Amey’s work is unbelievable for all the Parkinson’s patients. Lifespark Technologies Walk is a device that prevents Parkinson’s patients from falling while they walk. The patients often have difficulty walking or turning in the disease due to a lack of control over their movement. Amey closes a worthwhile deal with Shark Anupam and Shark Aman. Let’s explore it below.
Who Is Amey Desai WALK? Lifespark Technologies Founder, Biography, Age, LinkedIn, Parents, Education, And Career
Amey Desai Walk founder belongs to Mumbai, Maharashtra, India. He was born into a family of doctors. Growing up among the doctors, he saw several health conditions that people go through. He came to know about Parkinson’s at a young age. As per sources, around 10 Lakh people suffer from Parkinson’s disease. The condition leads to the death of brain cells, due to which an individual loses control over the movements.
Amey completes his education at Birla Institute of Technology and Science, Pilani in Engineering. During college, he started working and studying the effects of vibrations on Parkinson’s movement. He formed the company Lifespark Technologies after his college to help PD patients. Amey Desai BITS Pilani student is making wonders at such a young age.
Amey Desai Age
Amey Desai is 26 years old. He is working passionately on his mobility aid with a panel of 5 neurologists from NIMHANS ( National Institute of Mental Health And Neurosciences). Belonging to a family of doctors, he uses his advantage to connect with different doctors from the top positions. Amey Desai’s Walk journey started with the approach to building the first wearable mobility aid for Parkinson’s Patients. The mobility aid will help lakhs of Parkinson’s diseased people to overcome their falling challenges. The usage of WALK will help in the reduction of falling while walking. The device uses haptic technology.
Lifespark Technologies Founder Success Story: How Amey Desai WALK Journey Started?
Lifespark Technologies’ founder created Lifespark Technologies WALK. The product usage and modifications depend on the user. They take several tests on Parkinson’s patients to detect the patterns and where they fall. The tests help to make the necessary settings and program the device according to where the patient freezes using inbuilt AI. It is battery powered providing around 80% efficiency in the usage.
Lifespark Technologies WALK has been piloted on 150+ people and gave good results to those using it. AI alters the stimulation based on the walking style and pattern of the individual. Amey Desai sells the product for Rs. 36,000. While he gets his making cost of Rs. 10,000. He has a big vision and plans to associate with physiotherapy clinics and hospitals as they will become his distributors. He aims to sell 700 devices by the end of the year. Apart from that, he might launch some other products related to the category as well.
Amey Desai Shark Tank Season 3 Pitch And Offer: Did Lifespark Technologies Shark Tank Secured Funding?
Amey Desai asked for Rs. 50 lakhs for 1.5% equity at the Rs. 33.3 Crore valuation. They have received funding earlier also from BIRAC (Biotechnology Industry Research Assistance Council) for Rs. 1.67 Crore. Every product has a product life of 2.5 years to 5 years. The sharks remained skeptical for some time. Later, they were highly impressed and put great offers in front.
Shark Amit Jain gave the first offer. It was for Rs. 50 lakhs for 5% equity at a Rs. 10 Crore valuation. Shark Vineeta gave the same offer. After some time, Shark Anupam and Aman also gave an offer for Rs. 50 lakhs for 5% equity together. The three of them gave the same offer increasing the competition among sharks to sign a deal.
Later, Vineeta revises the offer to Rs. 50 Lakhs for 4% equity at 12.5 Crore valuation. Aman and Anupam match the offer. Amit Jain was left with his old offer so he revised it to Rs. 50 lakhs for 3.5% equity. Aman and Anupam match Amit’s offer. Amey decides to make a counteroffer.
He explained that he needed more valuation to raise further funds for the company and counteroffer Rs. 50 lakhs for 2.3% equity at a valuation of Rs. 21.74 Crore. Shark Amit Jain, Anupam, and Aman agreed. Amey chose Shark Anupam and Aman.
Amey Desai LinkedIn And Instagram
Amey Desai is available on LinkedIn as @ameydesai. Apart from that, he is also available on Instagram as @lifesparktechnologies. Do follow @charcha_times for more updates on our Instagram account.
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