Biography of Roni Mondal: Founder & CEO of Matri- Entrepreneur
Biography of Roni Mondal:
Beginning of Matri's Journey
In 2020, Roni Mondal and his co-founder Rohan embarked on a
mission to create a device that would ease the discomfort caused by menstrual
pain. Their inspiration stemmed from the struggles faced by women in their own
families—Roni’s sister and Rohan’s mother both experienced severe pain during
their periods. This led them to explore solutions, focusing on electronics to
help manage the pain effectively.
From Innovation to Product Development
The duo’s journey into innovation began much earlier. During
their school years, Roni and Rohan had developed a solar-powered power bank and
a home automation device. When they started their venture, they used their
previous experiences in tinkering with hardware to build prototypes for their
new idea—an electronic device that could alleviate menstrual pain. Their first
breakthrough came when they created a pain-relief device that could be worn on
the abdomen.
Overcoming Challenges in Product Design
In 2018, while still in college, Roni and Rohan began
working on their idea at IIT Patna, where they received lab support to develop
the device. However, they lacked financial backing and had to get creative.
They started by assembling LED bulbs and selling them to generate capital,
which helped fund the development of their first prototypes of the menstrual
pain relief device.
Matri Takes Shape
After several iterations and with user feedback, the
founders finally had a working prototype of their device. This device used a
combination of electronics and the Gate Control Theory of Pain to provide
relief. By 2020, they had refined the product enough to present it to IIT Patna
again, which this time not only provided lab access but also financial support
and mentorship, marking a turning point for their venture.
Creating the Perfect Prototype
Roni and Rohan’s device went through 14 prototypes before it
was ready for commercialization. They faced numerous technical challenges,
including adding safety features and improving the design for ease of use. The
device was designed to be portable, wearable, rechargeable, and non-invasive.
They ensured that it was easy to use, with two self-adhesive gel pads that
could be placed on the abdomen, providing relief in 10-15 minutes.
A New Start During the Pandemic
When the pandemic hit in 2020, Roni and Rohan were unable to
work at IIT, so they set up a small lab in Howrah, where they continued
refining their device. Despite the challenges, they remained focused on their
mission and made steady progress, using modern machinery to enhance their
research and development.
Matri's Commercialization Efforts
By 2022, with support from IIT Patna, Matri was ready for
commercialization. The duo moved to Bangalore for a year to leverage the
startup ecosystem there. They partnered with organizations like DERBI
Foundation, which helped them secure funding from the Ministry of Electronics
and Information Technology and the Department of Science and Technology.
Entering the Shark Tank
Roni and Rohan’s appearance on Shark Tank India Season 3
wasn’t initially planned. They had simply filled out an online form to explore
opportunities, and after passing through multiple screening rounds, they were
invited to Mumbai for the final pitch. Although they weren’t expecting much,
they were eager to present their product and ideas to the sharks.
Biography of Roni Mondal: Founder & CEO of Matri- Entrepreneur/age/net worth/investor/startup/menstrual pain/startup/Roni Mondal story/Matri story
The Nerve-Wracking Pitch
The pitch on Shark Tank was a nerve-wracking experience for
the duo. They had never faced a camera before and found it challenging to speak
in Hindi, which was not their first language. Despite their nerves, they gave
it their best shot, explaining the device’s functionality, the science behind
it, and the positive feedback they had received from women who had tested the
product.
Attracting Interest from the Sharks
The sharks were impressed by the innovative nature of Matri
and the hard work the founders had put into the product. They particularly
appreciated the science behind the device and the fact that it had been tested
by over 400 women with a 96% positive feedback rate. The sharks saw the
potential of Matri and its future in the global market.
The Offers on the Table
Initially, Roni and Rohan had asked for ₹60 lakh in exchange
for 4% equity, valuing their company at ₹15 crore. Shark Ritesh Agarwal,
impressed by their vision, upped the offer to ₹1 crore for 4% equity. However,
the founders felt that Namita Thapar, with her expertise in pharmaceuticals,
and Aman Gupta, with his experience in direct-to-consumer businesses, would be
more beneficial for their venture in the long run.
Securing the Deal
After some negotiation, Roni and Rohan decided to accept the
original offer from Namita Thapar and Aman Gupta. They were excited about the
partnership, knowing that Namita’s background in the pharmaceutical industry
and Aman’s expertise in scaling businesses would be key to the success of
Matri.
The Product's Features and Future Plans
The Matri device comes in two versions: wireless and with a
wire. The device is designed to provide quick relief from menstrual pain and is
priced at ₹1,999. The founders are also planning to launch a TENS therapy-based
product to help with labor pain and Matri 2.0, an upgraded version of the
device, within six months.
The Impact of Matri
Roni and Rohan's invention has the potential to
revolutionize how women deal with menstrual pain. Unlike traditional solutions
like hot water bottles or painkillers, the Matri device offers a portable,
non-invasive, and drug-free option. With over 96% positive feedback, it has
already made a significant impact on the lives of many women.
Looking Ahead
The future looks bright for Matri. With the backing of their
investors and the continuous innovation that Roni and Rohan are known for, the
founders are optimistic about the device’s success. They are focused on
expanding their product line and reaching more women around the world, helping
them manage menstrual pain in a safe and effective way.
A timeline of Matri's journey based on the provided
information:
2020 - Roni Mondal and Rohan co-found Matri, inspired by
menstrual pain in their families.
2018-2019 - While in college, Roni and Rohan start
developing a menstrual pain relief device at IIT Patna, using lab support.
2020 - They refine the prototype and receive financial
support and mentorship from IIT Patna.
2020 (Pandemic) - Unable to work at IIT, they set up a small
lab in Howrah to continue development.
2022 - Matri is ready for commercialization with support
from IIT Patna and startup ecosystem in Bangalore.
2022 - The duo appears on Shark Tank India Season 3 after
passing through multiple rounds of screening.
2022 - They pitch their product to the Sharks, sharing the
science and positive feedback.
2022 - Sharks show interest, with Ritesh Agarwal offering ₹1
crore for 4% equity.
2022 - Founders accept a deal from Namita Thapar and Aman
Gupta for expertise in pharmaceuticals and scaling businesses.
2023 - The Matri device is launched, offering relief from
menstrual pain with two versions: wireless and wired.
2023 (Future) - Matri plans to launch a TENS therapy-based
product for labor pain and Matri 2.0 within six months.
2024 - Focus on expanding the product line and reaching more
women globally with a drug-free pain relief solution.
