Founders & their story

• Amey Desai

WALK, India’s pioneering wearable mobility aid, addresses the challenges faced by Parkinson’s patients, who typically experience freezing of gait, especially prevalent in individuals over 60 years old. Developed by Amey, an alumnus of BITS Pilani, WALK integrates cutting-edge Haptic Technology and operates on battery power. The device underwent rigorous testing, involving over 150 participants, achieving an impressive efficiency rate of over 80%. The device’s efficacy is enhanced through a series of personalized tests conducted on patients, with AI algorithms dynamically adjusting simulation parameters based on individual walking patterns. Key parameters such as frequency and pattern of vibration are calibrated to provide optimal support. WALK’s innovative approach has a pending patent and is supported by a distinguished advisory panel comprising five neurologists.

Amey secured a substantial grant of 1.67 crores from Birak to further develop the technology. WALK leverages an in-house platform technology that holds promise beyond Parkinson’s disease, extending its utility to stroke and spinal cord injury rehabilitation.

About the company

Lifespark Technologies is at the forefront of developing groundbreaking solutions tailored to address chronic neurological conditions such as Stroke, Parkinson’s Disease, and Spinal cord injury. Situated within the Indian Institute of Technology – Bombay, they have carved out a niche in various domains including AI/ML, medical devices, mobile applications, and web applications. Their primary objective is to imbue a fundamental level of intelligence that can pre-emptively mitigate health issues before they manifest into more severe problems, envisioning a future where individuals in their sixties enjoy the vitality typically associated with those half their age.

With a reputation as a leading player in the health-tech sector, Lifespark Technologies has garnered the support of prominent business leaders and academics who serve as invaluable mentors. Collaborating closely with major healthcare organizations in India, they are committed to establishing themselves as the go-to innovator on a global scale.

At the core of their operations lie several guiding principles. Firstly, they pride themselves on being trailblazers, constantly pushing the boundaries of innovation to develop novel solutions that address the complex challenges posed by chronic neurological conditions. Their focus is not solely on individuals affected by these conditions but extends to their families as well, ensuring that their solutions cater to the holistic needs of the entire family unit. Furthermore, Lifespark Technologies is dedicated to promoting equality and inclusivity in all aspects of their work, striving to create a healthcare landscape where access to quality care is equitable for all individuals, regardless of their background or circumstances. They are committed to fostering sustainable care practices that prioritize long-term health management, recognizing the importance of continuity and consistency in managing chronic conditions effectively.

Their vision is rooted in universality, with a commitment to crafting solutions that are accessible and applicable on a global scale. Finally, they take pride in their indigenous innovation, proudly bearing the ‘Made in India’ label as a testament to their commitment to leveraging local talent and resources to drive meaningful change in the healthcare sector.

Revenue

WALK boasts a useful life of 2-5 years and is priced at 36,000 rupees, with a manufacturing cost of 10,000 rupees per unit. With a sales target of 700 devices for the fiscal year 2024-2025, WALK aims to significantly impact the lives of Parkinson’s patients while establishing itself as a leading solution in the field of neurorehabilitation.

Founders’ Ask 

50 lakhs for 1.5% equity at the valuation of Rs. 33.33 crores.

Offers:

Amit’s offer: 50 lakhs for 5% equity at the valuation of Rs. 10 crores.

Vineeta’s offer: 50 lakhs for 5% equity at the valuation of Rs. 10 crores.

Aman and Anupam’s offer: 50 lakhs for 5% equity at the valuation of Rs. 10 crores.

Vineeta’s revised offer: 50 lakhs for 4% equity at the valuation of Rs. 12.5 crores.

Aman and Anupam’s revised offer: 50 lakhs for 4% equity at the valuation of Rs. 12.5 crores.

Amit’s revised offer: 50 lakhs for 3.5% equity at the valuation of Rs. 14.29 crores.

Aman and Anupam’s revised offer: 50 lakhs for 3.5% equity at the valuation of Rs. 14.29 crores.

Aman and Anupam’s revised offer: 50 lakhs for 2.3% equity at the valuation of Rs. 21.74 crores.

Founder’s Counteroffer:

Offer 1: 50 lakhs for 2.3% equity at the valuation of Rs. 21.74 crores.

Final Deal

Aman and Anupam: 50 lakhs for 2.3% equity at the valuation of Rs. 21.74 crores.