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Neuphony is a startup founded by Bhavya Madan and Riya Rustagi that aims to revolutionize the mental health industry. The company's flagship product is a headband that can track stress, attention, focus, and mood. Neuphony was launched in April 2022 and is made of polycarbonate and ABS plastic with silicon-based brushes that are EEG sensors used to capture brain rhythms.
Neuphony's headband uses baseline calculation to monitor the current status of the brain and calculates the PDR of the brain, which should remain between 8 to 12 Hertz. Weekly and monthly warnings can be given on the basis of the result so that one can consult a doctor when needed. The headband can also measure positive mood as moods show positive, negative, and neutral. Based on the scores of these factors, Neuphony encourages and motivates people through various phases. The accuracy of the machine is 98%.
The aim of Neuphony, a startup founded by Bhavya Madan and Riya Rustagi, is to revolutionize the mental health industry by providing individuals with the necessary tools to manage their stress, attention, focus, and mood. The founders of Neuphony recognize that daily distractions can prevent people from taking care of their mental well-being, and they have developed a unique solution to help people overcome these challenges.
Neuphony's headband is designed to track stress, attention, focus, and mood by using EEG sensors to capture brain rhythms. The headband calculates the PDR of the brain, which should remain between 8 to 12 Hertz, and provides weekly and monthly warnings based on the result so that people can consult a doctor when needed. It also measures positive mood as moods show positive, negative, and neutral, and encourages and motivates people through various phases based on the scores of these factors. The accuracy of the machine is 98%.
The ultimate aim of Neuphony is to empower individuals to take charge of their mental well-being and lead happier, more productive lives. The company believes that by providing people with a personalized experience and enabling them to take control of their mental health, they can make a positive impact in the world. Neuphony's founders are passionate about their mission to improve people's mental health and are committed to making a difference through their innovative product.
The business model of Neuphony, a startup founded by Bhavya Madan and Riya Rustagi, is focused on providing a unique and innovative solution to individuals and businesses in need of mental health management tools. Neuphony's flagship product is a headband that can track stress, attention, focus, and mood using EEG sensors to capture brain rhythms.
Neuphony's target market is primarily businesses and corporates who are interested in providing their employees with tools to manage their mental well-being. The company recognizes the growing need for mental health management in the workplace and is positioning itself as a leader in the neuro industry in India. By providing businesses with a solution that can help their employees manage stress and improve focus and productivity, Neuphony aims to be an essential tool for businesses and corporates in India.
In terms of its business model, Neuphony intends to sell its headbands to businesses on a subscription basis, providing them with ongoing support and updates to the technology. The company is also exploring partnerships with mental health professionals who can provide additional support to users of the headband.
Neuphony's founders believe that their product can have a significant impact on the mental well-being of individuals and the productivity of businesses. By providing people with a personalized experience and enabling them to take control of their mental health, they hope to make a positive impact on society.
Neuphony aims to sell 1000 headbands in the FY 22-23 period at a cost of 49000 per product. This would result in projected sales of 5 crores for the company. Additionally, the company charges a subscription fee of 1800 per person per year.
To date, Neuphony has raised 2.5 crores at a pre-one valuation of 17.5 crores. The company has a monthly burn rate of 12 lacs, which means they are spending 12 lacs per month on operations and development.
Initially, the owners of Neuphony made an ask of 1 crore for 2% equity of the company at the valuation of 50 crores.
Namita offered 1 crore for 6.6% equity at a lower valuation of 15 crores, and Anupam joined her offer. Later, Peyush and Aman also gave the same offer of 1 crore for 6.6% equity.
The owners of Neuphony countered with an offer of 1 crore for 5% equity, and Peyush and Aman then gave a counteroffer of 1 crore for 5.4% equity.
After negotiations, the final deal was closed with Peyush and Aman for 1 crore rupees at 5.4% equity of the company.
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