iMumz Shark Tank Pitch:
iMumz is a Bengaluru based startup which aspire to transform the landscape of pregnancy and parenting through its science-centric mobile application. This innovative app offers a comprehensive array of services including expert-led workshops, webinars, personalized care, and additional support to assist mothers throughout their pregnancy and postpartum journey. Founder Ravi Teja Akondi presented iMumz on Shark Tank India Season 2, seeking INR 70 lakhs in exchange for a 1% equity stake.
Started in 2020, They had over 6 lakh downloads on their app. Their app provides support during the pregnancy and 2 years after Birth. They offer two plans premium and Standard. Their premium plan includes experts to supervise and the standard plan provides access to content. They also offer live classes with experts. iMumz has 1.1 lakh monthly active users and 30,000 paid subscribers. The company shared that their lifetime revenue is of ₹2 Crores in 2 years. Notably, Their pitch was shot in October 2022.
They made ₹20 Lakh in revenue last month and added 1200 new subscribers. ₹16 lakh comes from the standard plan and the rest from the premium. Founders also shared that they mainly attract customers through Facebook and Google ads and content marketing. Their standard plan costs ₹700 and premium costs ₹1700. Anupam comments that they have an out-priced market and the subscription model would not work here.
As for the company’s equity, Founders hold a total of 67% in the company with equal distribution between all of them. Furthermore, 10% is given to the ESOP pool and 23% is diluted in two rounds of investments. They raised the last round where they raised ₹6 Crores at ₹70 Crore valuation. This was done in August 2022.
iMumz Shark Tank Negotiations and Funding:
Namita said that she couldn’t match the valuation therefore she went out. She does appreciate the cause. Aman goes out as well because he thinks that the company need to increase its usability. Vineeta says the pricing is premium and that changes the TAM to a niche market therefore she goes out of the negotiations as well. Anupam likes the cause but he think company need to address the rural market. He adds that they need to figure out their market first so he goes out as well.
Peyush thinks that his money would not make much difference because they already have the money. He offers ₹10 Lakhs for 1% and rest as debt for 10% interest. Founders take a moment to think and comes back to accept the deal and they shake hands on that offer.
Who is the founder of iMumz?
Ravi Teja Akondi, Mayur Dhurpate & Dr. Jaideep Malhotra founded iMumz. Ravi and Mayur are IIT graduates. Ravi comes from a family which has been Ayurvedic doctors for 5 generations. Dr. Jaideep is a 3rd generation gynecologist. They also have another co-founder. Their equity is equally split.
How is iMumz doing after Shark Tank India?
Our research in the company revealed that their deal with sharks did not close after the show aired. Mr Ravi Teja, co-founder of iMumz shared that the response after the show was phenomenal. He added that it made him celebrity overnight. He also shared that Peyush and Namita were the sharks they were aiming for. Peyush due to his vision and Namita due to her distribution network.
As of December 2023, The company is still in business and growing. In the same podcast, Ravi shared that they are seeing a lot of demand from couples who are trying to conceive and it is something they just tested with small poll of people and has seen some success and they would possibly work on scaling this in near future. In addition to that, They are also working on launching their own birthing centre in Banglore to give passionate care to consumers and get better outcome.
Source: iMumz Instagram
Here are updates on other companies from Season 2 Episode 33.
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