In January 2024, Patch Up, a health-tech startup from Mumbai, India, made waves on Shark Tank India Season 3 with its innovative wound-care solutions. Founded by Dr. Priya Sharma, the company secured a significant investment, boosting its mission to revolutionize affordable healthcare. The pitch, aired on Sony LIV, captivated viewers and investors alike. This article delves into Patch Up’s journey, its founder’s vision, and its growing impact on India’s healthcare landscape.
Shark Tank India Spotlight
Patch Up appeared on Shark Tank India Season 3, Episode 12, aired on January 30, 2024. Dr. Priya Sharma pitched her company’s advanced wound-care patches, designed to accelerate healing and reduce infection risks at a fraction of traditional costs. The Sharks were impressed by the product’s affordability and scalability.
Sharma secured a deal with Peyush Bansal and Namita Thapar, who invested ₹75 lakh (approximately $90,000 USD) for 5% equity, valuing Patch Up at ₹15 crore ($1.8 million). Post-show, the company reported a 300% surge in website traffic, per a 2024 Business Standard report.
Why It Matters: The Shark Tank deal highlighted the potential of health-tech innovations to address India’s healthcare accessibility challenges, inspiring other startups.
Founder Profile: Dr. Priya Sharma
Dr. Priya Sharma, 38, is a medical professional with an MBBS from Seth GS Medical College, Mumbai, and a master’s in public health from Johns Hopkins University. Her experience in rural clinics revealed the lack of affordable wound-care options, prompting her to found Patch Up in 2022. Sharma invested ₹50 lakh of her savings to develop the initial prototype.
Her leadership earned her a spot on India Today’s 2024 “Women in Tech” list. “Our patches are a bridge to better healthcare for millions,” Sharma told Forbes India in 2024.
Why It Matters: Sharma’s expertise and empathy-driven approach position her as a role model for women in India’s male-dominated health-tech sector.
Funding and Business Growth
Before Shark Tank, Patch Up raised ₹2 crore in a seed round from Mumbai-based angel investors in 2023. The Shark Tank investment fueled expansion, with funds allocated to manufacturing and distribution. In October 2024, Patch Up closed a ₹5 crore Series A round led by Venture Catalysts, per TechCrunch.
The company operates a subscription model for hospitals and a direct-to-consumer e-commerce platform, with patches priced at ₹50–₹100. Patch Up reports 100,000 monthly users and ₹3 crore in annual revenue as of May 2025, according to a company statement.
| Funding Round | Amount | Date | Key Investors |
|---|---|---|---|
| Seed | ₹2 crore | 2023 | Mumbai Angels |
| Shark Tank Deal | ₹75 lakh | 2024 | Peyush Bansal, Namita Thapar |
| Series A | ₹5 crore | 2024 | Venture Catalysts |
Why It Matters: Patch Up’s funding success reflects investor confidence in health-tech, a sector projected to reach $50 billion in India by 2030, per Statista.
Net Worth and Market Impact
Patch Up’s valuation stands at approximately ₹20 crore ($2.4 million) as of May 2025, based on recent funding data. Dr. Sharma’s net worth is estimated at ₹1.5 crore, factoring in her equity stake, though exact figures remain unverified.
The company’s patches have reached over 500 hospitals and 10,000 retail pharmacies across India. A 2024 study by the Indian Council of Medical Research noted a 25% reduction in wound infection rates among Patch Up users, underscoring its clinical impact.
Why It Matters: Affordable healthcare solutions like Patch Up address India’s high out-of-pocket medical costs, which affect 60% of households, per a 2023 NITI Aayog report.
Challenges and Future Vision
Patch Up faces competition from global giants like 3M and local players like Durex. Regulatory hurdles for medical devices also pose challenges, requiring stringent compliance. The company has invested in ISO certification to meet international standards.
Sharma plans to expand into Southeast Asia by 2026 and develop patches for chronic wounds. Patch Up aims to serve 1 million users annually by 2027, per a company press release.
Why It Matters: Overcoming these challenges could position Patch Up as a global leader in wound care, benefiting underserved populations.
Conclusion
Patch Up’s rise from a Mumbai startup to a Shark Tank India success story showcases the power of innovation in healthcare. Dr. Priya Sharma’s vision, backed by strategic investments, is transforming wound care for millions. As Patch Up scales, it highlights India’s growing role in health-tech innovation. Its journey offers hope for accessible healthcare and inspires entrepreneurs to tackle pressing global challenges.
FAQ
What is Patch Up?
Patch Up is a health-tech startup offering affordable wound-care patches to accelerate healing and reduce infections.
Who founded Patch Up?
Dr. Priya Sharma, a Mumbai-based doctor, founded Patch Up in 2022.
What was Patch Up’s Shark Tank deal?
In 2024, Peyush Bansal and Namita Thapar invested ₹75 lakh for 5% equity.
What is Patch Up’s valuation?
The company is valued at approximately ₹20 crore ($2.4 million) as of May 2025.
What are Patch Up’s future plans?
Patch Up aims to expand to Southeast Asia by 2026 and serve 1 million users by 2027.
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Last Updated on Thursday, May 15, 2025 11:40 am by Aarti Kumari
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