InnerGize Shines in Shark Tank: The Wearable Tech Transforming Mental Health
Excessive stress can lead to serious physical and mental health issues. Lately, many people are battling major illnesses due to it, struggling with sleep, work, and daily activities. Is it possible to manage stress effectively? Yes, Recently Indian company InnerGize came up with a product to help you manage your stress.
Who are the founders of InnerGize?
The founders of InnerGize are Dr. Siddhant Bhargava, Shalmali Kadu, and Mitansh Khurana.
Early Life and Education
Dr Siddhant Bhargava was born and raised in Mumbai in a doctor's family. His father and grandfather are professional doctors. He also wanted to follow the same path so he prepared for Neet and cleared the exam. Siddhant got AIR 214 and took admission in Medical College & BYL Nair Ch. Hospital of Mumbai. He completed his MBBS in 2017 but unfortunately, he did not continue as a doctor.
At just 20 years old, Dr. Siddhant Bhargava faced a diagnosis that changed his life forever. He was battling Lupus, a chronic autoimmune disease where the body’s immune system attacks healthy tissues. It was the start of a physically and emotionally gruelling journey. Siddhant lost his hair, his skin colour changed, and he endured relentless pain. The side effects of steroid treatments further complicated his ordeal and led to weakened immunity and significant weight gain. Despite these overwhelming challenges, Siddhant refused to let his condition define him.
Realizing that many others struggled with their health, he decided to channel his pain into purpose. Siddhant founded ‘Food Darzee,’ a diet food delivery service aimed at promoting better nutrition and wellness. The venture quickly gained traction, becoming a favourite among Bollywood celebrities such as Alia Bhatt and Sara Ali Khan. Siddhant was making a name for himself as a celebrity nutritionist, but life wasn’t done testing him yet.
In another cruel twist of fate, Siddhant was diagnosed with stage 2 thyroid cancer, an inoperable condition. Yet again, he turned his struggles into an opportunity to innovate and create meaningful impact. He says that Food Darji was more like an escape for him, he wanted to venture into something unique. Alongside co-founders Shalmali Kadu and Mitansh Khurana, Siddhant launched ‘InnerGize,’ a startup focused on managing stress and anxiety.
Shalmali completed her BTech in Instrumentation and Control in 2020 from MKSSS Cummins College of Engineering for Women of Pune. Her professional Journey started as a Project Management Specialist with Honeywell Automation India Ltd. Her first venture was Aivara in 2021, a technology startup focusing on sustainable ways of testing environmental elements using AI.
She graduated during COVID-19 and unfortunately, she lost her grandfather. Her father and aunt, already battling diabetes and hypertension, faced immense stress, and she sought solutions to help them but found nothing good. A year later, she was also diagnosed with type 1 diabetes, with stress being a significant factor.
Sidhant and Shalmali crossed paths earlier at a startup pitching event in Dec 2022, which he attended as a guest.
Mitansh Khurana graduated in 2023 from Netaji Subhas University of Technology. He is a brilliant student and is a gold medalist in mathematics and computing. He always knew his passion lay in technology. The youngest entrepreneur among his peers, he met Shalmali in December 2022 at a conference during hackathon events.
About ‘InnerGize
InnerGize's flagship product is a wearable device that stimulates the parasympathetic nervous system, offers immediate stress relief, and improves sleep and productivity.
The device, powered by Neuro-Acoustic vagal modulation technology, delivers gentle electrical impulses to stimulate the vagus nerve. Users simply peel a sticker, place it behind their ear, and control sessions through a mobile app. With two to four 10-minute sessions daily, users can experience optimal benefits. Having tested the device on over 1,100 individuals, InnerGize reported overwhelmingly positive results.
The InnerGize device is priced at Rs 5,000, including the gadget, a charger, and 12 patches for early adopters. Additional patches are available in sets of eight for Rs 500. With a manufacturing cost of just Rs 1,200, the product is not only impactful but also highly profitable. The brand’s B2B strategy involves partnering with mental health institutions to offer the device on a pay-per-session model. Once customers experience the benefits, they can purchase it for personal use. In the long term, the company aims to transition to a Direct-to-Consumer (D2C) model.
InnerGize in Shark Tank India
InnerGize’s innovation and mission reached a national stage of Shark Tank India when the team appeared on Shark Tank India Season 4. The co-founders pitched their device, valuing their company at Rs 36 crore and seeking Rs 54 lakh for a 1.5% equity stake. At the time, each co-founder held a 33% stake in the company. InnerGize had already raised Rs 2 crore, including Rs 90 lakh in grants, and was in the process of securing an additional Rs 4 crore.
The Sharks were captivated by the device’s potential. Ritesh Agarwal, CEO of OYO Rooms, was the first to match the initial ask of Rs 54 lakh for a 1.5% stake. Aman Gupta and Azhar Iqubal also expressed interest, with Aman offering Rs 54 lakh for 2.5% equity and Azhar offering the same ask. After intense negotiations, the team secured a deal for Rs 1 crore in exchange for 4.2% equity.
Transforming Mental Health Solutions with Inspiring Mission
InnerGize’s mission is best encapsulated in a LinkedIn post: “InnerGize was created to help you manage stress and unlock your peak performance. Seeing how much you believe in us and our mission fuels our passion to do even more.” The founders’ vision to improve mental health solutions aligns with Siddhant’s journey of resilience and innovation.
“Difficult roads often lead to beautiful destinations.” Siddhant has turned adversity into a source of strength and innovation. His journey not only inspires but also proves that even in the darkest times, there is light to be found through purpose and perseverance.
The journey of Dr. Siddhant Bhargava, Shalmali Kadu, and Mitansh Khurana is a story of the strength of the human spirit and the power of resilience. Despite battling life-altering health challenges, personal losses, and professional crossroads, they turned their pain into purpose and their struggles into solutions.
Siddhant’s relentless fight against Lupus and thyroid cancer became the foundation for creating ventures that improve lives. Shalmali’s determination to address health and environmental challenges, even amidst personal adversity. Mitansh’s unwavering passion for technology and his brilliance as a young entrepreneur have brought innovation to their shared vision. Their story is not just about overcoming challenges; it’s about redefining them as stepping stones to transform lives and make a lasting difference in the world.