How is Matri Doing After Shark Tank India?

Founder/Owner: Roni Mondal and Rohan Roy
Business: Period Pain relieving device
Ask: ₹60 lakhs for 4% Equity
Valuation/ Networth: ₹15 Crores
Funding: ₹60 lakhs for 4% Equity
Sharks: Aman Gupta and Namita Thapar
Episode: Season 3 Episode 24

Matri Shark Tank India Pitch:

Matri is an electronic device that provides relief from period pain within 10-15 minutes. This device is portable, wearable, and rechargeable. Fix the two self-adhesive gel pads on the lower abdomen, turn it on, and use it for 10-15 minutes. The device has been tested on more than 400 women with 96% positive results. Matri was ready to launch at the time of the shooting of the episode. They were planning to sell it through their own website and marketplaces with an MRSP of ₹1,999.

Matri Revenue & Financials during Shark Tank India:

For the first prototype, IIT only provided the lab but no funding. After 2 years of research, they made the second prototype, and based on that prototype, they received 10 lakhs seed funding from IIT Patna. In total, they underwent 14 product iterations. The device operates based on the gate control theory. A utility patent was applied for the pulse pattern for menstruation pain. They are planning to partner with gynecologists, conduct awareness campaigns in schools and colleges, and engage in performance marketing.

What are future products of Matri?

In the future, they want to launch a product based on TENS Therapy to reduce labor pain. Secondly, they plan to launch Matri 2.0 within the next six months.

Who are owners of Matri?

Matri and Silifarm technologies is owned by Roni Mondal and Rohan Roy. They are both school friends and studied at RCC Institute of Information Technology, Kolkata. Roni is a cousin of Ranodeep Saha (Rare Planet from Season 1).

Matri Shark Tank India Negotiations & Funding:

Anupam was impressed by the founders and made an offer of ₹60 lakhs for 10% equity. Namita also matched Anupam’s offer and wished to proceed alone. Vineeta, impressed by the device and the founders, offered ₹60 lakhs for 6% equity. Anupam revised his offer to ₹60 lakhs for 4% equity, and Namita revised the offer to ₹60 lakhs for 6% equity. Aman proposed an offer of ₹60 lakhs for 4% equity, which Namita also matched.

Ritesh explained the founders to necessity for more funding to make it big business and proposed ₹1 crore for 4% equity. However, Anupam opted to exit negotiations, considering the ₹25 crore valuation too high. The founders countered Namita’s offer and suggested collaborating with Aman, which they both agreed to. Deal finalized.