Rishi Iyer pitches prosthetic arms on Shark Tank India

Rishi Iyer recently shared his story on Shark Tank India, where he introduced his startup, Symbionic. The company aims to create affordable and efficient prosthetic arms for individuals with disabilities. This episode was called the "Divyang Special," focusing on empowering people with disabilities. Rishi's journey began after a terrible bus accident in September 2018. At 24, he lost his right arm in the crash. He recounts waking up in the hospital feeling lighter but struggling with pain and uncertainty about his future. He realized he couldn't find affordable and effective bionic arms, which motivated him to start Symbionic. During the pitch, Rishi described the accident. While volunteering, a vehicle collided with their bus, causing his injury. Doctors ultimately had to amputate his arm to save his life. Rishi and his co-founder also revealed their upcoming product, the Titan Bionic Arm. The Sharks had mixed reactions to their business model. Some chose not to invest, suggesting they launch the product first. However, Namita Thapar saw potential and decided to invest. She offered Rs 40 lakh for 2 percent equity and Rs 40 lakh as a loan at 10 percent interest for three years. The founders negotiated, proposing Rs 40 lakh for 1 percent equity and 1 percent advisory equity with the same loan terms. Thapar accepted the deal, and they celebrated their partnership and vision for the future.