Shark Tank: Sports-tech startup pits sharks against each other to bag ₹25 lakh deal

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Shark Tank: Sports-tech startup pits sharks against each other to bag ₹25 lakh deal
Source: IANS
Mumbai, A patented sports trainer designed to propel athletes toward peak performance, Hyperlab's 'Helios', has sealed a deal of Rs 25 lakh with Aman Gupta in the new episode of 'Shark Tank India' season 3.
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At the intersection of sports and technology, Hyperlab, founded by Hitarth Parikh and Chahil Patel, stands as a catalyst for transformation, poised to redefine athletic training.

The founders brought their brainchild to 'Shark Tank India 3', seeking the expertise of Sharks to take their vision forward and blur the lines between the physical and virtual worlds of training.

Hyperlab's integration of AI and ML algorithms into its application highlights the company's commitment to technological innovation, receiving a grant of Rs 45 lakh from the government for product development.

By harnessing the power of real-time analytics and innovative laser projection technology, Helios offers a dynamic training experience like no other to athletes. They can customise their workouts, track their progress, and unlock their full potential with precision drills and analytics.

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Additionally, users can also enhance their fitness by indulging in specially curated workout regimes and sports like football, badminton, and basketball, with pre-set options available on the app.

With an ask of Rs 10 lakh for one per cent equity, Hyperlab invites the Sharks to join them in reshaping the future of fitness and training.

Interestingly, during the pitch, Helios pitted all Sharks against each other in a race to secure a deal with the founders, setting the stage for an exhilarating showdown.

Aman, the co-founder and CMO of BOAT, said: "Okay, l'll make an offer to you. When I was 22, I didn't know what l wanted to do in life, you guys are so sorted."

He offered them the same deal that they asked for Rs 10 lakh for one per cent equity.

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Vineeta Singh, the co-founder and CEO of SUGAR Cosmetics offered them Rs 50 lakh for 5 per cent equity. Namita Thapar, the executive director of Emcure Pharmaceuticals Ltd, gave another offer of Rs 20 lakh for one per cent equity.

Vineeta then revised her offer and said: "Rs 20 lakh for one per cent equity."

Anupam Mittal, the founder and CEO of Shaadi.com said: "Look, you still have about Rs 40 to 45 lakh in the bank. You're almost down to the wire. You have a burn of Rs 4 lakh. You'll run out of money by March. And before you run out of money, you should always have at least a six-month runway to raise money."

Namita continued saying, "We'll connect you to investors."

Finally the Hyperlab sealed the deal with Aman Gupta of Rs 25 lakh in exchange of one per cent equity.

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Talking about their experience, Hitarth Parikh, founder and CEO, said: "As young entrepreneurs fresh out of college, HYPERLAB and our sport tech products faced the unknown. 'Shark Tank India 3' was an absolute game-changer. The platform became a masterclass in entrepreneurship -- we soaked up knowledge, built connections, and gained industry insights."

"The pitch garnered an incredible response, creating a buzz around HYPERLAB and paving the way to bring our products to athletes and fitness enthusiasts worldwide. The Sharks' reactions validated our belief in both the product and our potential," he added.

'Shark Tank India 3' streams on Sony LIV.
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