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For many, mobility is a given—an unnoticed luxury until it’s compromised. But for Nimish Mehra, Founder and CEO, FUPRO Innovation Pvt Ltd, a knee surgery during his second year of college turned this realisation into his life’s mission. FUPRO gained attention after appearing on Shark Tank India, where its innovative approach to prosthetics took centre stage amongst the sharks. “Mobility is independence. I didn’t want to become dependent on someone at the age of 20,” Mehra recounts in a conversation with BrandWagon Online. That moment of clarity, born from two months of immobility, sparked the inception of FUPRO. Today, FUPRO is at the forefront of revolutionising mobility for individuals with disabilities, impacting over 15,000 lives with its innovative prosthetics and assistive devices, according to the company.
According to the company, in FY-24, FUPRO achieved Rs 2.5 crore in revenue and is on track to close FY-25 at Rs 4.25 crore, clocking a staggering 70% year-on-year growth. Looking ahead, Mehra envisions taking FUPRO to new heights, aiming for a turnover of Rs 35 crore within the next three years, backed by an ambitious plan to expand into international markets. However, FUPRO reported a net loss of Rs 64.3 lakh for the same period according to filings accessed by Tofler.
A game-changer on Shark Tank India; Leaves Anupam Mittal emotional
This week, FUPRO captured the nation’s attention with its pitch on Shark Tank India Season 4. Mehra had waited two years to perfect the company’s business case before presenting it to the sharks—and the preparation paid off. FUPRO walked away with four offers, a testament to the strength of its vision and execution.
Seeking Rs 60 lakh for 1% equity, they valued their company at Rs 60 crore. Mehra shared that his patriotism inspired the business, and the sharks praised their products. Anupam Mittal, however, raised concerns about the lack of features like shock absorbers. The founders explained that their highly elastic material mimics natural movement and improves blood flow, reducing health risks like heart disease and anxiety. Anupam shared a personal story about his cousin, who lost his limbs in an accident, validating the founders’ claims. The founders revealed a third co-founder who invested over Rs 2 crore for 40% equity, which concerned the sharks. Kunal Bahl offered Rs 2 crore for 10%, but only if the cap table was adjusted, which the founders declined. Ritesh Agarwal, Namita Thapar, and Aman Gupta collectively offered Rs 60 lakh for 5% equity. Anupam chose to step back, questioning the business’s focus and market potential.
After negotiations, the founders secured a deal with Ritesh, Namita, and Aman for Rs 60 lakh in exchange for 4% equity. Namita promised valuable connections in the medical field, and Anupam expressed interest in staying connected to help his cousin benefit from their products.
But for Mehra, the Shark Tank experience was about more than funding. “This was an effort to build trust within the people of India about medical device manufacturing,” he said. “In hyper-technical products, we still trust Western brands more than Indian ones, without realising that some Indians would have made those products abroad.” His Shark Tank appearance, according to him, wasn’t just a pitch—it was a statement, a step toward changing perceptions about India’s capability to lead in the medical device space.
The national spotlight has opened doors for FUPRO, boosting its visibility and partnerships. As the company eyes international markets, this exposure could be a springboard for scaling its operations and expanding its impact.
From racecars to revolutionising prosthetics
Mehra’s engineering journey began not in the medical field but on the racetrack. As a student immersed in race car design, he honed his skills in product design, physics, and manufacturing. “Racecars are all about physics, which is the same everywhere. Without that rich experience of manufacturing, FUPRO would never have come into existence,” he explained.
Applying the precision and efficiency of race car engineering to prosthetics, Mehra built a company rooted in lean manufacturing principles inspired by the Toyota Production System. By minimising human error and reducing production costs, FUPRO guarantees high-quality, cost-effective prosthetics accessible to a wider audience. Its patented designs and cellular production methods ensure affordability without compromising functionality, a combination that the founder vouches to sell the company apart in the market.
Building a Prosthetic Legacy
The journey from a college dorm room to building a company with over 600 doctor clients has been far from easy, but it is one defined by resilience and vision. Mehra reflects on three pivotal milestones that have shaped FUPRO’s remarkable trajectory. The first was securing their very first order with 100% advance payment—a validation of the company’s credibility and the trust they were able to inspire in customers from the start. The second was receiving funding from BIRAC and DST, Government of India, which provided critical support to their innovation pipeline. The third, and perhaps most rewarding, was achieving profitability despite the myriad challenges of launching a business straight out of college, Mehra recounted.
Under Mehra’s leadership, FUPRO has grown exponentially, driven by a distribution-based supply chain model that caters to its expanding network of doctors. With an impressive repeat order rate of over 80%, the company claims to have touched 15,000 lives and continues to grow.
Engineering hope with FUPRO
FUPRO’s journey is a blend of innovation and struggle, with the company aiming to redefine the prosthetics industry. While it has made significant strides, including impressive revenue figures, the net loss highlights the harsh realities of scaling a manufacturing-driven business. Despite its promising vision to transform the disability space, FUPRO faces an uphill battle to sustain profitability in a market that demands both technical excellence and financial prudence. The company’s ambitious expansion into global markets and new product lines will require more than just creativity—it will need disciplined financial management and a more refined strategy to weather the competitive, capital-intensive challenges ahead. As Nimish Mehra puts it, “Good things take time,” but whether FUPRO can overcome its current financial hurdles to realise its vision remains to be seen.
