Neuphony

In 2016, Ria's younger sister got a brain infection that went undiagnosed for 9 months. The doctors had established her condition as cervical pain. When she was hospitalized, all her bodily functions were normal. In fact, she went walking to the hospital. Unfortunately, one week later she was in semi-coma condition, then she lost all her cognition and was paralyzed, followed by which she passed away at the age of 25. Ria Rustagi and Bhavya Madan are Season 2's most personally grief-transformed technology founders — a married couple of 11-year friends whose research and company formation were driven entirely by Ria's devastating personal loss: watching her sister walk into a hospital and die of an undiagnosed brain infection nine months later. Ria channelled that personal trauma into seven years of neuroscience research (starting 2016 when her sister died), Integrated Circuit Design training in Singapore and Germany, and ultimately the founding of Neuphony in April 20.

Neuphony is India's first wearable EEG headband a dry (no gel required), wireless, 8-sensor consumer-accessible electroencephalography device that measures real-time brain electrical activity across the parietal, frontal, and temporal lobes, providing users with continuously updated data on their stress levels, focus, attention, and mood through the Neuphony app and suggesting personalised interventions (meditation, breathing exercises, music) to improve the specific brain state the data reveals.

Amount Asked: ₹1 crore Equity Offered: 2% Implied Pre-Money Valuation: ₹50 crore

Ria and Bhavya opened Season 2 Episode 36 with the most personally devastating founding backstory of the episode Ria narrating her sister's death from an undiagnosed brain infection that nine months of medical consultation had failed to identify, followed immediately by the product vision: if real-time, accessible brain monitoring had existed for her sister in 2016, the infection might have been detected before it became fatal. The product demonstration showing the EEG headset, explaining the 8-sensor positioning across brain regions, and displaying real-time brain data through the Neuphony app was Season 2 Episode 36's most technically sophisticated product walk-through. Showing actual EEG waveforms alongside their meaning (relaxation, focus, stress) converted an abstract "brain monitoring" concept into immediately interpretable personal health data.

Namita Thapar was the most clinically aligned Shark Emcure Pharmaceuticals' deep relationships in Indian hospitals, neurology departments, and clinical research institutions made Namita the most strategically valuable investor for a medical neurotechnology device entering the clinical market. She co-offered with Anupam. Anupam Mittal acknowledged the very early stage explicitly but remained invested in the founders' capability and mission. He co-offered with Namita. Aman Gupta was drawn to the consumer electronics positioning Neuphony's "smartwatch for the brain" concept was directly adjacent to boAt's consumer wearables expertise. The hardware design, sensor integration, and app-connected user experience were all categories where boAt's product development experience was directly applicable. He co-offered with Peyush. Peyush Bansal saw the same consumer wearable technology scaling opportunity Lenskart's hardware-first consumer product scaling experience and brand-building methodology was applicable to a premium consumer neurotechnology device seeking mass market adoption. Vineeta Singh and Amit Jain exited beauty brand and automotive marketplace expertise provide no specific commercial leverage for a neurotechnology wearable device.

Namita and Anupam's Offer: ₹1 crore for 6.67% Equity. Peyush and Aman's Offer: ₹1 crore for 5.4% Equity. The founders agreed to Aman and Peyush's offer. The founding founders accepted Aman and Peyush's 5.4% equity offer better valuation terms plus consumer electronics expertise over Namita and Anupam's 6.67% offer worse valuation terms but clinical distribution strength. The choice prioritised the consumer technology scaling pathway over the clinical institutional distribution pathway.

Ria Rustagi and Bhavya Madan accepted Aman Gupta and Peyush Bansal's joint offer of ₹1 crore for 5.4% equity valuing Neuphony at ₹18.52 crore. The deal was confirmed and formally closed after the episode aired.

Neuphony continues expanding the website active at neuphony.com, pod session bookings available for consumer trial before purchase, and the B2B partnerships with neuroscience research labs, cognitive wellness corporate programs, and brain gym establishments building the institutional client base that provides revenue stability while consumer adoption grows. The pod session booking model allowing consumers to experience the Neuphony headset at a location before committing to a ₹49,000 purchase addresses the primary consumer adoption barrier for premium medical wearables: consumers want to understand the product before paying premium hardware prices. The beginner session at ₹999 and bio-hacker session at ₹1,299 create an accessible entry point that converts curious consumers into product purchasers.