- Founder: Reyansh Juneja
- Business: Dementia Caregiving Device
- Ask: ₹50 Lakhs for 5% Equity
- Valuation/ Networth: ₹10 Crores
- Funding: No Deal
- Sharks: No Deal
- Episode: Season 4 Episode 31
MemoTag Shark Tank India Pitch:
MemoTag is a proactive solution for dementia caregiving. The founder shared that India has over 8.8 million dementia patients. MemoTag has features like GPS Tracking, Geo-Fencing, Fall Detection, and Vocalised Reminders. The company’s vision is to simplify dementia caregiving, and they sought an investment of ₹50 Lakhs in exchange for 5% equity valuing the company at ₹10 Crores.
MemoTag also provides predictions on individual health improvement using Artificial intelligence. At the time of their pitch, the company was working on 4th prototype and were almost ready to take their product to the market. They had a team of 15+ people.
MemoTag created its first prototype in January 2024 using a bike tracker. Their second prototype introduced fall detection, and the third prototype had tracking of physical metrics. MemoTag supports 30+ Vernacular Languages and Dialects.
MemoTag also has an integrated SIM card slot, which a person can use to connect with the patient if they leave the geofence area. Using this, two-way calls can be made to the patients in the case of an emergency.
MemoTag was not able to show any live demo of a working prototype of their product, which disappointed the Sharks. The founder shared that their Moat is that they take the USP of all the competitors and combine them.
MemoTag’s Financials & Revenue during Shark Tank India:
The brand already had 3,500 pre-orders of their product and a year’s subscription to their app which is valued at ₹5.25 Crores in Revenue.
MemoTag Shark Tank India Negotiations & Funding:
Vineeta went out due to not having product working in the Tank. Namita went out due to a lack of depth in the pitch and company. Anupam went out due to similar reasons as Namita. Kunal went out due to a lack of detailed information on the founder. Ritesh went out due to similar reasons as other Sharks. MemoTag left the Tank without a deal.
Who is the founder of MemoTag?
Reyansh Juneja founded MemoTag. He is doing BBA from Master’s Union in Gurugram. MemoTag is Reyansh’s second startup.
How is MemoTag doing after Shark Tank India?
Our research in the MemoTag revealed that while they did not get a deal on Shark Tank India, Their appearance on the show had a positive impact on the business. As of February 2025, The company is still in business but it appears to have missed out on their deadline to launch the product in December 2024. Currently, the product is still not available to ship however, the brand is still accepting pre-orders. you can check out other Shark Tank Products by clicking the Amazon Button Below!
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