Biography of Adarsh Kachappilly: Founder & CEO of Ayusynk- Entrepreneur
Biography of Adarsh Kachappilly:
Ayusynk was founded in 2017 by Adarsh Kachappilly, Tapas
Pandey, and Varad Patil with the aim to transform the way doctors use
stethoscopes. Adarsh, the CEO, had a vision to improve the traditional
stethoscope, which is a crucial tool in medical diagnosis but often limited in
functionality. By combining technology with healthcare, Ayusynk created a
device that could enhance doctors’ ability to listen to body sounds more
clearly, offering better diagnostic results.
An Innovative Solution to Modernize the Stethoscope
The core product of Ayusynk is a small device that can
attach to any conventional stethoscope, turning it into a digital one. This
transformation allows doctors to hear sounds more clearly, free from background
noise, and visualize heartbeats and lung sounds. The device helps in diagnosing
heart murmurs and lung abnormalities by amplifying sounds and providing a
visual representation through a connected app.
Glimpse into Ayusynk's First Milestones
Ayusynk quickly made a mark in the health-tech industry,
gaining recognition for its innovation. The device wasn’t just about sound
quality; it also offered features like live streaming of data, background noise
removal, and improved clarity, both audio and visual. The team also achieved a
significant milestone by securing a patent for their device in the United
States, which helped boost the company’s credibility.
Shark Tank India Appearance
Ayusynk got its big break when it appeared on Shark Tank
India in Season 2. The founders pitched their idea to the sharks, requesting ₹1
crore for a 1.5% stake in the company, which valued the startup at ₹66.67
crore. Their pitch was supported by a live demonstration of the product's
ability to enhance the stethoscope's capabilities, making it a modern tool for
telemedicine and remote diagnostics.
The Sharks’ Interest and Investment Offers
The sharks were immediately interested in the product.
Namita Thapar, with her background in the pharmaceutical industry, was
particularly intrigued and asked for a demonstration. The Ayusynk team
showcased how their device worked with the Ayusynk app, which allows doctors to
visually interpret heartbeats and lung sounds, enhancing diagnosis. The sharks
showed enthusiasm, with offers soon following.
Biography of Adarsh Kachappilly: Founder & CEO of Ayusynk- Entrepreneur /age/net worth/investor/startup/stethoscope with technology/Ayusynk story
The Financials Behind Ayusynk's Pitch
In their pitch, the Ayusynk team shared their sales figures
and projections. By the time of the pitch, they had sold 5,000 units of their
device. The average selling price of each unit was ₹12,000, and the company had
a healthy 55% gross margin. They projected revenues of ₹7 crore for FY
2022-2023, with an EBITDA margin of 18%. These figures demonstrated the strong
financial potential of their business.
Sharks' Questions and Concerns
The sharks were impressed by the device's features and the
company’s sales success, but they raised a few concerns. Namita and Peyush
asked about the business’s scalability and the market’s size. Anupam Mittal
pointed out that while the solution was innovative, the market for such devices
might be limited, which could affect long-term growth. Despite these concerns,
the sharks remained interested in the technology.
The Negotiations Begin
After the initial pitching, Peyush Bansal offered a deal of
₹50 lakhs for 5% equity and ₹50 lakhs as debt at a 12% interest rate. Namita
Thapar also showed interest, offering ₹50 lakhs for 4% equity and ₹50 lakhs
debt at a 10% interest rate. While the founders appreciated the offers, they
countered with a proposal for ₹50 lakhs for 3.5% equity and ₹50 lakhs debt at a
10% interest rate, which they felt better reflected their company’s valuation.
Finalizing the Deal
Namita Thapar accepted the counteroffer made by the
founders. This deal was worth ₹50 lakhs for 3.5% equity and ₹50 lakhs as debt
at a 10% interest rate, valuing the company at ₹14.29 crore. Namita's
investment brought not only financial backing but also valuable expertise in
scaling businesses in the healthcare sector, which Ayusynk could leverage to
expand further.
The Road to Success Post-Shark Tank
After appearing on Shark Tank India, Ayusynk received
significant attention. The company had already built strong momentum with their
sales figures, but the visibility from the show helped propel them to new
heights. With Namita's investment and guidance, Ayusynk aimed to refine their
product and expand its reach in the healthcare market, both in India and
internationally.
The Future of Tele-Auscultation
Ayusynk’s primary focus is on advancing
tele-auscultation—using technology to listen to heart and lung sounds remotely.
This approach has the potential to improve healthcare accessibility, especially
in rural or underserved areas where healthcare facilities may be scarce. The
device’s ability to provide clearer, more accurate data for remote diagnosis
could revolutionize the way healthcare professionals treat patients at a
distance.
The Power of Visualizing Sound in Medicine
One of the key features of Ayusynk’s device is the ability
to provide a visual representation of heart and lung sounds. This innovation
helps doctors understand the frequency and intensity of body sounds, aiding in
faster and more accurate diagnoses. The app also stores these sound patterns,
which doctors can refer to over time, making it a valuable tool for ongoing
patient monitoring.
The Key Stakeholders of Ayusynk
Ayusynk is led by three key stakeholders: Adarsh
Kachappilly, the CEO, who drives the company’s vision and strategy; Tapas
Pandey, the Head of Hardware, who ensures the device’s physical design and
functionality; and Varad Patil, the Head of Software and Analytics, responsible
for the app and the analytics side of the business. Together, they form a
dynamic leadership team that is committed to innovation and growth.
The Continuing Journey of Ayusynk
Since its inception, Ayusynk has proven itself as a
promising startup in the health-tech space. With a focus on improving the
accuracy and efficiency of diagnostic tools, the company has grown its product
offerings and strengthened its brand. With the support from investors like
Namita Thapar and their growing customer base, Ayusynk is set to continue its
journey of innovation and expansion in the medical field, aiming to change how
doctors diagnose and treat patients worldwide.
A timeline of Ayusynk’s journey:
2017: Ayusynk is founded by Adarsh Kachappilly, Tapas
Pandey, and Varad Patil to modernize the stethoscope with technology.
2018-2020: Development of the core product—an attachable
device that transforms conventional stethoscopes into digital ones for enhanced
diagnostic capability.
2021: Ayusynk secures a patent for its device in the United
States, boosting credibility.
Season 2 of Shark Tank India (2022): Ayusynk pitches on
Shark Tank India, seeking ₹1 crore for 1.5% equity, valuing the company at
₹66.67 crore.
2022 (Post-Shark Tank): Ayusynk receives offers from
investors and finalizes a deal with Namita Thapar for ₹50 lakhs for 3.5% equity
and ₹50 lakhs debt.
2022-2023: The company sells 5,000 units, with a projected
revenue of ₹7 crore for FY 2022-2023.
2023 (Post-Shark Tank): The investment helps Ayusynk expand
its product and reach, focusing on telemedicine and remote diagnostics.
Future: Ayusynk continues to innovate in tele-auscultation
and aims to improve healthcare accessibility with its technology, particularly
in underserved areas.
