The Renal Project, Renal Project Co Pvt. Ltd

Shashank Modhia has a Master of Science in Biomedical Engineering from The University of Texas at Arlington and a Bachelor of Engineering in Biomedical Engineering. He has over six years of experience in quality assurance with a focus on the Asia Pacific region. Prior to founding The Renal Project, he was a Quality Assurance Manager at Philips Healthcare and Baxter — at Baxter, he managed compliance of Technical Service Centres across the Asia-Pacific region with Baxter global SOPs and FDA regulations for the kidney health devices portfolio. Shashank Modhia earned his master's degree from Texas in the United States and has been there for the past ten years. In his last corporate job, he worked for a dialysis equipment manufacturer in the Asian Pacific Region from 2003 to 2018. He called Jitesh Pedenekar, the operational head of the business, to explain the working model of Renal Dialysis equipment during the pitch.

The Renal Project is a chain of dialysis micro-centres designed to bring life-sustaining hemodialysis therapy to India's small towns, districts, and talukas — where patients currently travel 100–200 kilometres to city hospitals for treatment that they need three times a week, every week, for the rest of their lives The Renal Project is a chain of dialysis micro-centres designed to bring life-sustaining hemodialysis therapy to India's small towns, districts, and talukas — where patients currently travel 100–200 kilometres to city hospitals for treatment that they need three times a week, every week, for the rest of their lives In-center Hemodialysis, Home Hemodialysis, and Ad-hoc Emergency Dialysis. Sharktankindiaclub The home dialysis service — launched in January 2021 — was particularly innovative: they made ₹7.5 lakhs in May 2021 through home dialysis alone Sharktankindiaclub, demonstrating that the demand for dialysis closer to where patients live exist at every proximity.

Amount Asked: ₹1 crore Equity Offered: 3% Implied Pre-Money Valuation: ₹33.33 crore

The Renal Project pitch opened Episode 14 with an immediacy that cut through the Tank's usual business-model framing: Shashank's first words were about what happens to the human body when kidneys stop working. Nine to ten litres of urea-contaminated fluid accumulating in the body over 48 hours. Life-threatening without intervention. Intervention requiring a machine that is available in Mumbai but not in the taluka where one in four kidney patients in India lives. The clinical opening was not emotional manipulation — it was the most efficient possible framing of the market problem. Dialysis is not a consumer preference. It is not a lifestyle product. It is a weekly medical necessity that cannot be delayed, cannot be substituted, and cannot be accessed by the majority of India's kidney patients without travelling distances that are punishing for someone who is already critically ill.

Namita Thapar was the most strategically aligned investor in the room. As Executive Director of Emcure Pharmaceuticals — one of India's largest nephrology drug manufacturers — she had deep knowledge of the CKD patient population, the dialysis market's growth trajectory, and the pharmacy-to-dialysis-centre referral network that could accelerate The Renal Project's patient acquisition. Aman Gupta joined Namita's coalition after initially hesitating — his rationale was that two Sharks with complementary expertise would add more value than either alone. Ashneer Grover offered a creative debt-equity hybrid: ₹25 lakhs for 1% equity and ₹75 lakhs as debt at 12% for five years. Peyush Bansal exited on competition grounds. Peyush didn't find it investable due to the large competition. Anupam Mittal exited citing early stage. Anupam also moved out as it had not achieved the level he would be convinced to invest in.

Namita offered ₹1 crore for 10% equity. Aman joined forces with Namita. Namita later revised her offer to ₹1 crore for 8%, with Aman coming along, but added that this would be non-negotiable. Ashneer then pitched that he could offer a better deal. Shashank requested a minute to think, and came back to counter at ₹1 crore for 4%. Namita suggested 6%, and Ashneer revised his offer to ₹50 lakhs for 2% with the rest as debt. Namita altered her offer and made ₹1 crore for 6% equity and said: "Never discount the value of network." Shashank tried to get some more from Namita but was in vain. He accepted Namita and Aman's offer, as the pharmacy network was key for him to the door to success.

Deal Status:- Confirmed & Formally Closed Investment Amount:- ₹1 crore Equity Given:- 6%