“In sports, if you cannot measure, you cannot improve” – this is the mantra Hitharth Parikh swears by. Parikh is the founder of HYPERLAB, the company that made a splash on Shark Tank India Season 3 with its innovative athletic training device – Helios.
On February 15, a fresh episode aired. The doors swung open, and in walked three confident young men in their twenties. They stepped into the Shark Tank. Looking around, it seemed like they were a tech company ready to pitch an app. But as they began talking, it became clear their pitch was much more than that.
HYPERLAB’s founders, Hitharth Parikh, Chahil Patel, and Harsheet Maliwal from Ahmedabad, initially asked for Rs 10 lakh for 1% ownership at a valuation of Rs 10 crore. But they ended up bagging Rs 25 lakh for 1%, valued at Rs 25 crore! That’s 2.5 times more than they asked for. Talk about surprising everyone!
So, what’s Helios, what problem does it solve, and why did all the Sharks practically compete to make a deal with them? Let’s find out!
Helios: A Game-Changing Device for Athletes?
HYPERLAB’s Helios device resembles the humble water bottle. But make no mistake, Helios is designed to propel athletes toward peak performance. It uses AI and ML algorithms to offer dynamic training experiences through real-time analytics and laser projection technology. It also allows athletes to customize workouts, track progress, and engage in sports like football and basketball with precision drills.
Helios stands out as the world’s first laser-assisted training device, catering to various sports and fitness workouts, from football tackling to agile sports like kabaddi. The device, which connects to an application via Bluetooth, captures the metrics of the user and provides data on stamina, agility, reflexes, directional analysis, consistency, and more.
Hitharth emphasizes that sports involve three key aspects: Stamina, Agility, and Reflex. He notes, “Whether advanced or beginners, all athletes want to improve stamina but often overlook agility and mobility.” The device provides athletes with parameters to self-assess, aiming to make advanced technology accessible to everyone. Hitharth highlights that top players like Lionel Messi and Cristiano Ronaldo have their own tech, but it’s not affordable for everyone. The goal is to democratize this technology.
By harnessing the power of real-time analytics and innovative laser projection technology, Helios offers a dynamic training experience to athletes like no other. They can customize their workouts, track their progress, and unlock their full potential with precision drills and analytics. 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.
Inside the Tank
Hitharth, Chahil, and Harsheet looked confident as they walked into the ‘Shark Tank India 3’ or “the tank.” Besides funding, they were seeking the expertise of Sharks to take their vision forward and blur the lines between the physical and virtual worlds of training. They did capture the interest of the Sharks and how!
For the uninitiated, Shark Tank India is a television show that provides a platform for entrepreneurs to pitch their business ideas to a panel of investors known as “Sharks.” The Sharks evaluate the pitches and decide whether to invest in the businesses.
With an ask of Rs 10 lakh for one percent equity, HYPERLAB invited the Sharks to join them in reshaping the future of fitness and training. The founders showcased HYPERLAB’s integration of AI and ML algorithms into its application. They highlighted the company’s commitment to technological innovation, receiving a grant of Rs 45 lakh from the government for product development.
Interestingly, during the pitch, Helios pitted the Sharks against each other in a race to secure a deal with the founders, setting the stage for a fun showdown.
The Sharks had a blast trying out Helios. Shark Amit showed off his agility as he tried to keep up with the laser guidance.
Aman Gupta, the co-founder and CMO of BOAT said: “Okay, I’ll make an offer to you. When I was 22, I didn’t know what I wanted to do in life; you guys are so sorted.” He offered them the dream deal that they asked for, Rs. 10 lakh, for 1% equity.
Vineeta Singh, the co-founder and CEO of SUGAR Cosmetics, offered them Rs 50 lakh for 5% equity.
Namita Thapar, the executive director of Emcure Pharmaceuticals Ltd, gave another offer of Rs. 20 lakh for 1% equity. This doubled their valuation from Rs. 10 crore to 20 crore.
Vineeta then revised her offer and said: “Rs 20 lakh for 1% equity.” Finally, HYPERLAB sealed the deal with Aman Gupta – CMO of BOAT, who offered Rs 25 lakh in exchange for one percent equity, making the valuation 25 crore.
All three founders were visibly pumped, and so were the Sharks. The product, the pitch, and the deal were one of the highlights of Shark Tank India Season 3.
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.
The Road Ahead
In the future, sports training can potentially be supercharged by Helios. This device could change how athletes train and perform. With Helios, athletes can get personalized workouts and instant feedback. It’s not just for the pros – anyone can use it to get better at sports. Given the government’s increasing focus on promoting sports, Helios may see widespread adoption, potentially heralding a transformative era in sports. Devices like HYPERLAB’s Helios could usher in a “train like you mean it, and play like you own it” spirit in the Indian sports landscape.
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Written by: Poorva Sagar
