Eva is India’s first scalp-cooling device manufactured by Stemtech Medical Devices. The device is designed to help cancer patients undergo Chemotherapy without losing their hair in the process.
More About Eva Scalp Cooling System
Eva Scalp Cooling System is a groundbreaking solution developed with a deep understanding of the challenges faced by patients undergoing chemotherapy.
Here are some other major insights about Eva:
- ISO13485 Quality Certified
- Registered with CDSCO
- Supported by the Department of Biotechnology (DST, GOI)
- Available in Select Cancer Centers
Founder of Eva Scalp Cooling System
Raghuveer Surupa is the founder of Stemtech Medical Devices, the company that developed the Eva Scalp Cooling System.
Eva Scalp Cooling System Shark Tank Pitch and Updates
Raghuveer Surupa appeared on Shark Tank India season 3 and shared details about his innovative medical device named Eva.
The founder started his pitch with the issues that cancer patients face during chemotherapy treatment. As per Raghuveer, many patients even skip chemotherapy because of the fear of losing their hair. To help cancer patients with these harmful effects, they built Eva, India’s first scalp cooling system.
Raghuveer told the Sharks that his device is used along with Chemotherapy treatment and provides the right temperature to hair follicles so that hair loss can be prevented. Their devices are installed in hospitals, prescribed by cancer specialists, and administered by nurses during the treatment. In the last 1 year, they have reached more than 12 hospitals in 5 states to provide 1000+ sessions with Eva.
After that initial pitch, the founders demanded INR 30 Lakhs for 1.2% equity at a valuation of INR 30 crores.
After that, the Sharks started asking various questions about his business:
- Ritesh Agarwal asked the founder about the reasons why he is so passionate about this cause.
- Namita Thapar asked the founder to demonstrate the product and how the technology helps Cancer patients.
- Anupam Mittal asked about the market size, their competitors, and the reason why their competitors are not scaling fast. He also wanted to know about their previous funding rounds.
- Vineeta Singh suggested the founder launch a different version of the device at a lower price for Tier 2 and Tier 3 towns.
After all the discussions, Eva Scalp Cooling System received multiple offers from different Sharks. In the end, he went with a combined offer from Aman Gupta, Ritesh Agarwal, and Namita Thapar.
| Company Name | Eva Scalp Cooling System – Stemtech Medical Devices |
| Founders | Raghuveer Surupa |
| Headquarters | Bangalore |
| Founded Year | 2020 |
| Business | Medical Devices |
| Profitability | No |
| Shark Tank Episode | Season 3 – Episode 11 |
| Asked For | INR 30 Lakhs for 1.2% equity |
| Deal | INR 30 Lakhs for 1.8% equity |
| Sharks Invested | Aman Gupta, Ritesh Agarwal, and Namita Thapar |
| Valuation Given | INR 16.67 Crores |
| Website | Click Here |
Eva Scalp Cooling System got a deal of INR 30 Lakhs for 1.8% equity at a valuation of 16.67 crores from Aman Gupta, Ritesh Agarwal, and Namita Thapar
Frequently Asked Questions About Eva Scalp Cooling System
After their appearance on Shark Tank India Season 3, people tried to find more information about the Eva Scalp Cooling System. So here are some of the frequently asked questions about them.
1. Who Is The Founder of Eva Scalp Cooling System?
Raghuveer Surupa is the founder of Stemtech Medical Devices, the company that developed the Eva Scalp Cooling System.
2. Is the Eva Scalp Cooling System From Shark Tank India profitable?
No, Eva Scalp Cooling System from Shark Tank India is not a profitable business yet. In the Financial Year 22-23, they made around 22.5 lakhs of sales with a loss of around 77.5 lakhs. They are working towards making it a profitable business in the coming years.
3. What happened to Eva Scalp Cooling System after the Shark Tank?
Eva Scalp Cooling System was able to secure a deal from Shark Tank India. Now, they will be working on improving the device and scaling the business globally.
4. What Is The Valuation of Eva Scalp Cooling System?
Eval Scalp Cooling System received funding in Shark Tank India at a valuation of 16.67 Crores.
