“Who wouldn’t want to feel younger? Everyone wants to live a life free of disease and frailty. But the question is, is it truly possible? This was the question put forward by the three Decode Age founders on a recent episode of Shark Tank India Season 3.
As the sharks pondered, the pitchers stated that Modern Science believes it is possible and went on to present all of their products as well as their 3-P approach, which includes prevention (via supplements to manage age-related symptoms), prediction (via biological age testing and gut microbiome testing), and personalisation (tailored protocols designed based on unique biological data to reverse biological ageing).
Darshit Patel, Parth Amin, and Rakesh Somani, the founders of Decode Age, claimed it as India’s “first and only longevity-focused company,” which helps with the process of “healthy ageing.” They then asked for Rs 1 crore for 1.25 percent equity from the sharks, pricing the company at Rs 80 crore.
“Our vision is to transform the 80s into the new 50s.”
The team reinforced their presentation with examples from Yayati in the Mahabharata and entrepreneur Bryan Johnson, who sought youthful vigour. They stated that modern lifestyles cause premature indicators of ageing in more than 70% of adults. “Due to modern lifestyle, more than 70 per cent of people show signs of old age before they reach the age they appear,” said one of the founders.
While the sharks were immediately taken with the innovative product, they did not hesitate to ask questions to learn more about Decode Age. boAt CEO Aman Gupta quickly asked if they used their own products, to which they said yes.
As the show progressed, Shaadi.com CEO Anupam Mittal, who had previously met the Decode Age team, disclosed that they never collected his samples for testing owing to a lab issue that took six months to fix.
Following the proposal, Emcure Pharmaceuticals ED Namita Thapar declined, describing Decode Age’s main advantage as a “first-mover advantage,” along with high product prices that limited the target demographic.
As the episode progressed, other sharks followed suit, with the exception of Mittal, who gave Rs 1 crore for 2.5 percent equity and 1 percent income till he recovered 1.5 percent of his investment.
Despite Decode Age’s counteroffer of 1.75 percent stake sans royalty, Mittal provided 2.25 percent equity plus a 1% royalty until Rs 1.5 crore was repaid. The founders agreed, signing a deal with Mittal as the sole investor.
