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Ayusynk is a startup founded by Adarsh Kachappilly, Tapas Pandey, and Varad Patil, aiming to improve healthcare for heart and lung diseases. The company's founders come from diverse backgrounds and bring expertise in software and analytics, hardware, and business management.
The Ayusynk device is designed to transform a traditional stethoscope into a digital one, providing better audio and visual clarity while reducing background noise. With the device, doctors can check patients over a long distance, allowing for remote patient monitoring and consultation.
The aim of Ayusynk, the startup founded by Adarsh Kachappilly, Tapas Pandey, and Varad Patil, is to improve healthcare for heart and lung diseases. Their main goal is to upgrade the traditional stethoscope with their patented technology, making it accessible and affordable for people around the world.
With the Ayusynk device, doctors can remotely monitor and consult patients, which can improve healthcare outcomes, especially for people living in remote or underserved areas. The device provides better audio and visual clarity while reducing background noise, allowing for more accurate diagnoses and treatment plans.
The business model of Ayusynk is focused on providing a patented digital stethoscope device, along with a Bluetooth-connected application, to healthcare professionals and organizations. The company aims to generate revenue by selling these devices to doctors, hospitals, clinics, and other healthcare providers.
Ayusynk's target market is primarily healthcare professionals and organizations, including doctors, nurses, hospitals, clinics, and medical schools. The startup's technology is particularly valuable for healthcare providers who specialize in heart and lung diseases and need accurate and remote monitoring of patients.
Additionally, Ayusynk's technology may also appeal to healthcare organizations and policymakers seeking to improve healthcare outcomes in underserved or remote areas, where access to medical expertise is limited.
The founders' equity in the company is Adarsh with 43%, Tapash with 32%, and Varad with 20%, while the remaining 5% is with a mentor and SINE-IIT Bombay. Ayusynk's device has an average selling price of Rs. 12,000 with a gross margin of 55%. As of now, the company has sold 5000 units, generating sales of Rs. 32 lakhs in the last month, and the revenue generated from April to the current date of FY 22-23 is around 3 crore rupees.
The projected sales for the end of this year are Rs. 7 crore rupees, and the projected EBITDA (Earnings before Interest, Taxes, Depreciation, and Amortization) is 18%. The company has sold 90% of units among the 5000 units to telemedicine companies and the remaining 10% to B2C doctors.
The founders made an ask of ?1 crore for 1.5% equity of the company. Peyush Bansal made an offer of 50 lakhs rupees for 5% equity and 50 lakhs debt at 12% interest. He also asked Namita to join him, but Namita decided to go solo with another deal. Namita then offered 50 lakhs rupees for 4% equity and 50 lakhs debt at 10% interest. The pitchers gave a counteroffer of 50 lakhs for 3.5% equity, and Namita decided to make it final.
The final deal was done with Namita for 3.5% equity for 50 lakhs rupees and 50 lakhs debt at a 10% rate of interest. This means that Ayusynk received 50 lakhs in cash and 50 lakhs as debt from Namita in exchange for 3.5% equity in the company. This funding will help Ayusynk to scale up their operations, expand their market reach, and improve their product offerings.
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