Neonatal Device
For monitoring
Season 3 Episode 43
| Brand | Nemo Care |
| Company Name | Nemocare Wellness Pvt Ltd. |
| Founders | Manoj Sanker P R, Pratyusha Pareddy |
| Original Ask | 1 crore for 2.5% equity at the valuation of Rs. 40 crores |
| Deal | 20 lakhs for 0.67% equity at the valuation of Rs. 30 crores and 80 lakhs debt at 10% interest for 2 years |
About the Product
The flagship product of Nemocare, the “Nemocare Raksha,” stands as a revolutionary wearable designed specifically for newborns, offering continuous monitoring of vital parameters crucial for detecting conditions such as Apnea and Hypothermia, among others. This innovative device serves as an integrated diagnostic tool, wirelessly connecting to a central platform to facilitate simultaneous monitoring of multiple babies by nurses. With its ability to continuously track vital parameters and promptly detect distress conditions, the Nemocare Raksha ensures timely alerts to caregivers, enabling swift intervention when necessary.
What sets the Nemocare Raksha apart is its versatility and usability, both within hospital settings and at home. Its single-piece hardware is capable of measuring multiple vital signs in real-time with high precision, providing caregivers with invaluable insights into the health status of newborns. Furthermore, its truly portable design makes it ideal for use during transportation, ensuring continuous monitoring even while on the move. One of the key features of the Nemocare Raksha is its compatibility with Kangaroo Mother Care, allowing it to be used effectively at the mother’s side. Its intuitive design requires no skilled training, ensuring that caregivers can easily utilize its capabilities without extensive prior experience. Additionally, the device boasts a unified intelligent platform for data management, securely storing information for later access by healthcare professionals.
Powered by artificial intelligence, the Nemocare Raksha incorporates a clinical decision support system, further enhancing its capabilities for remote continuous monitoring. This AI-driven system not only aids in the early detection of distress conditions but also provides valuable insights and recommendations to healthcare providers, facilitating informed decision-making and improving patient outcomes. With its comprehensive suite of features and unparalleled functionality, the Nemocare Raksha represents a significant advancement in newborn care, offering a lifeline for both caregivers and newborns alike.
Founders & their story
- Manoj Sanker P R
- Pratyusha Pareddy
Every year in India, 80 lakh babies are born with a low birth weight or are premature with an illness, resulting in 4 lakh newborns losing their lives annually. NemoCare Raksha is a patented healthcare device tailored for newborns. This clinically graded wearable device is affixed to the baby’s leg, monitoring seven vital parameters such as heart rate, respiratory rate, body temperature, and oxygen saturation in real-time. Data from the device is relayed to a nursing station via a centralized dashboard, enabling doctors to remotely monitor vital signs through an IoT-enabled platform. The device also leverages AI to predict potential illnesses. Baby-friendly and portable, the device is attached to the baby by nurses and can be used for up to 1.5 years, monitoring up to 200 babies per device. With a battery life of 300 charge cycles, the device is manufactured under contract and is available in multiple hospitals across South India. Established in 2016, NemoCare received a grant of Rs 65,00,000 from the Bill and Melinda Gates Foundation, and their US patent has been granted. They offer a CSR model for bulk orders with an annual maintenance contract for up to 6 months, catering to small to mid-sized nursing homes, large corporate hospitals, and CSR initiatives.
About the company
Nemo Care is dedicated to eradicating preventable neonatal and maternal deaths in the developing world through the development of innovative, affordable, and accessible monitoring solutions tailored for emerging markets. Leveraging unobtrusive wireless wearable sensors, along with networks, analytical algorithms, and big data, they aim to provide continuous and highly accurate monitoring and preventive care for every patient, both in hospitals and at home. Their comprehensive approach leaves no stone unturned in preventing any form of mortality and morbidity, ensuring that timely interventions are made to address critical conditions.
Using design thinking principles, Nemo Care focuses on building life-saving technologies that will revolutionize healthcare delivery in resource-constrained settings. The core issues they are addressing include the lack of timely intervention due to inaccurate detection of conditions and the absence of alerts for necessary interventions to prevent injury. Moreover, early discharge resulting from the scarcity of family and institutional resources poses an increased risk to patients, a challenge that Nemo Care seeks to mitigate through their solutions. They recognize that existing devices for assessing vital signs are often too complex for low-skilled healthcare workers in these settings, leading to the delayed attention to critical conditions such as apnea and hypothermia. Additionally, current devices are often expensive and prone to false alarms, further exacerbating the challenges faced in providing effective healthcare. Furthermore, the use of bulky, wired devices hampers their usability during Kangaroo Mother Care and limits their portability, posing additional obstacles to effective monitoring and care delivery. Through their commitment to innovation and inclusivity, Nemo Care is poised to transform healthcare in the developing world, ensuring that every patient receives the timely and accurate monitoring and care they need to thrive.
Revenue
In fiscal year 2021-2022, their sales reached 1 crore, followed by 70 lakhs in fiscal year 2022-2023. As of October in fiscal year 2023-2024, their sales amounted to 30 lakhs. Projections for the full fiscal year 2023-2024 indicate anticipated sales of 80-90 lakhs.
Founders’ Ask
1 crore for 2.5% equity at the valuation of Rs. 40 crores.
Offers
Peyush’s offer: 10 lakhs for 1% equity at the valuation of Rs. 10 crores and 90 lakhs debt at 0% interest for 1 year.
Vineeta’s offer: 50 lakhs for 5% equity at the valuation of Rs. 10 crores and 50 lakhs debt at 8% interest for 3 years.
Peyush and Vineeta’s offer: 50 lakhs for 5% equity at the valuation of Rs. 10 crores and 50 lakhs debt at 8% interest for 1 year.
Aman’s offer: 50 lakhs for 1% equity at the valuation of Rs. 20 crores and 80 lakhs debt at 10% interest for 2 years.
Founders’ Counteroffer
20 lakhs for 0.67% equity at the valuation of Rs. 30 crores and 80 lakhs debt at 10% interest for 2 years.
Final Deal
Aman: 20 lakhs for 0.67% equity at the valuation of Rs. 30 crores and 80 lakhs debt at 10% interest for 2 years.