Matri Shark Tank Season 3
In a groundbreaking episode of Shark Tank India, viewers witnessed the emergence of Matri, a revolutionary product aiming to alleviate menstrual pain. Founded by Roni Mondal and Rohan Roy, Silifarm Technologies Pvt Ltd introduced Matri as a portable, wearable, and rechargeable electronic device designed to provide relief from period pain within a mere 10-15 minutes.
The statistics are staggering: women experience menstruation for an average of 30-40 years in their lifetime, with a staggering 80% experiencing menstrual pain. Traditional remedies such as hot water bags and painkillers have limitations and side effects, prompting Mondal and Roy to develop Matri as a superior solution.
Matri operates through a simple process: users affix two self-adhesive gel pads to their lower abdomen, activate the device, and experience rapid relief from period pain. Tested on over 400 women with a remarkable 96% positive feedback rate, Matri stands as a beacon of innovation in women’s health.
The journey of Matri traces back to Mondal and Roy’s school days in Howrah, Kolkata. Bonding over shared interests in electronics and technology, the duo embarked on numerous projects before recognizing the dire need for menstrual pain relief. Their dedication led them to develop the first prototype of Matri in 2018, funded by their entrepreneurial spirit and humble capital raised by selling LED bulbs on the streets of Kolkata.
Their perseverance caught the attention of IIT Patna, which offered them incubation and seed funding of 10 lakhs. This support propelled Mondal and Roy to refine Matri through iterative prototyping and user feedback, culminating in the 14th iteration ready for market launch.
Anupam, one of the sharks, aptly dubbed Mondal and Roy “Padman 2.0,” acknowledging their commitment to revolutionizing menstrual health. Matri’s wired and wireless variations operate on the Gate Control Theory, sending pulses to block pain signals from reaching the brain, thus reducing discomfort.
Matri boasts a utility patent for its pulse pattern, ensuring its uniqueness in the market. Additionally, the device’s miniaturized design and CDSCO test license further solidify its credibility. With a go-to-market strategy centered on direct sales through their website and online marketplaces, Matri aims to make period pain relief accessible to women across the country at an estimated price of 1,999.
The Sharks were quick to recognize the potential of Matri, with offers flooding in from all sides. Vineeta, Anupam, Namita, Aman, and Ritesh each vied for a stake in this transformative venture. Ultimately, Mondal and Roy accepted the combined offer from Namita and Aman, securing 60 lakhs for 4% equity at a valuation of 15 crores.
As Matri prepares to enter the market, it stands not only as a testament to innovation but also as a beacon of hope for millions of women seeking relief from menstrual pain. With its pioneering technology and unwavering mission, Matri is poised to redefine women’s health and wellness for generations to come.