Shark Tank India S3: 'We Hear' cracks the deal with Peyush Bansal to solve the hearing problem of millions

We Hear is India's first hearing care company that develops products to make day-to-day hearing habits more ear-health-friendly and was seen in the 7th episode of Shark Tank India.

Shark Tank India Season 3 episode 7 saw a tech-driven and revolutionary pitch by We Hear - a hearing aid solution provider based out of Ahmedabad. The pitch started with an awkward silence between the co-founders, Kanishka Patel and Raj Shah, and the sharks which was a prelude to one of the most common problems of hearing loss. “The only solution for it is surgery which costs around Rs. 8,00,000 and not many people can afford it,” said Raj after breaking the silence of about 10 seconds. 

This is when the duo decided to find an affordable and effective solution back in 2017. They started looking for inspiration and Kanishka came across an article on bone conduction technology which is a technology used by the US military and armed forces in the field, where soldiers can listen to their communication within the team, as well as the surroundings because of open-ear experience. This is when they thought of using this military technology as a solution for people who aren't able to hear.

Keeping this in mind, We Hear launched the HearNU Pro which uses bone conduction technology to help people with hearing impairment listen. This is a patented product and costs Rs. 80,000 as compared to a surgery that costs Rs. 8,00,000. Another product, WeHear OX, is a ear health-friendly smart headphone device is in the market for anyone and everyone to prevent hearing issues in the future because it has no speakers and it works on a unique technology.

Experience at Shark Tank 

The duo made an initial offer of Rs. 2.5 crore for 1% equity for which Peyush Bansal, founder of Lenskart gave a conditional offer of Rs. 1 crore for 1% equity plus Rs. 1.5 crore debt at 9% interest for 3 years. This was countered by Raj for an investment of Rs. 2.5 crore for 1% equity and 1.5% advisory equity and the deal was closed.

The deal was even more commendable because all the products are designed, engineered, developed and manufactured in-house. Sharing the vision of the brand, they plan to launch a conventional hearing aid - HearNU BTE Prime and to provide hearing loss solutions to as many as people possible in the coming future. Taking about the Shark Tank experience, the co-founders said, “ It was three days of amazing learning and experience and we are grateful for the opportunity.”

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