Executive Overview
Target Market Size
₹1,328 Cr
100,000 emergency rooms + ambulances
Device Price
₹1.5 Lakh
100X cheaper than CT scan
Gross Margin
83%
Premium positioning justified
Break-even
FY 2027
2 years post-launch
Key Assumptions & Drivers
Product Pricing
- Hardware Device: ₹1.5 Lakh
- Test Cartridges: ₹400 per test
- SaaS Platform: ₹50,000 annually
Market Penetration
- Target: 10% over 5 years
- 30,000 ambulances
- 70,000 emergency rooms
Operational Metrics
- 20 tests per device monthly
- 70% pilot conversion rate
- 2-3 month sales cycle
Revenue Projections
Monthly Projections (Sep 2025 - Feb 2026)
| Month | Devices Sold | Device Revenue | Cartridge Revenue | SaaS Revenue | Total Revenue |
|---|---|---|---|---|---|
| Sep-25 | 5 | ₹7,50,000 | ₹2,96,000 | ₹12,500 | ₹10,58,500 |
| Oct-25 | 8 | ₹12,00,000 | ₹3,60,000 | ₹15,000 | ₹15,75,000 |
| Nov-25 | 10 | ₹15,00,000 | ₹4,40,000 | ₹18,333 | ₹19,58,333 |
| Dec-25 | 15 | ₹22,50,000 | ₹5,60,000 | ₹23,333 | ₹28,33,333 |
| Jan-26 | 20 | ₹30,00,000 | ₹7,20,000 | ₹30,000 | ₹37,50,000 |
| Feb-26 | 25 | ₹37,50,000 | ₹9,20,000 | ₹38,333 | ₹47,08,333 |
Revenue Growth Trajectory
From ₹10.6 Lakhs in Sep 2025 to ₹47.1 Lakhs in Feb 2026 - a 4.4x growth in 6 months with an average monthly growth rate of 35%
Unit Economics
Customer LTV (5 Years)
₹8,80,000
Device + Cartridges + SaaS
Customer Acquisition Cost
₹5,000
Direct sales + Marketing
LTV/CAC Ratio
176:1
Exceptional unit economics
Payback Period
<2 months
Rapid capital recovery
Cost Structure Breakdown
| Component | Cost per Unit | Selling Price | Gross Margin |
|---|---|---|---|
| Device Hardware | ₹25,000 | ₹1,50,000 | 83.3% |
| Test Cartridge | ₹80 | ₹400 | 80.0% |
| SaaS Platform | ₹5,000/year | ₹50,000/year | 90.0% |
Scenario Analysis
Base Case
₹50 Cr
10% penetration
₹1.5L device price
Optimistic
₹85 Cr
15% penetration
₹2.0L device price
Conservative
₹32 Cr
7% penetration
₹1.2L device price
Worst Case
₹20 Cr
5% penetration
₹1.0L device price
Key Performance Indicators
| KPI | Target | Current Status | Measurement Method |
|---|---|---|---|
| Device Sales Growth | 25% MoM | Pre-launch | Units sold |
| Cartridge Utilization | 20 tests/device/month | Validated in pilots | Total tests/Active devices |
| Gross Margin | >80% | 83% (projected) | (Revenue-COGS)/Revenue |
| CAC Payback | <60 days | <30 days (projected) | CAC/(Monthly gross profit) |
| Pilot Conversion | >70% | In progress | Paying customers/Total pilots |
| NPS Score | >70 | 75 (pilot feedback) | Customer surveys |
Funding Requirements & Milestones
Capital Requirements (18 Months)
- R&D Completion: ₹50 Lakhs
- Regulatory Approval: ₹30 Lakhs
- Initial Manufacturing: ₹40 Lakhs
- Working Capital: ₹60 Lakhs
- Marketing & Sales: ₹20 Lakhs
Total Requirement: ₹2 Crores
Key Milestones
- Q3 2025: Complete product development
- Q4 2025: Regulatory submission
- Q1 2026: Commercial launch
- Q2 2026: Scale to 100+ devices
- FY 2027: Break-even achieved
Path to Profitability
Profitability Timeline
Interactive chart showing path from current ₹8L/month burn to profitability by FY2027
Current State
-₹8L/month
Pre-revenue burn
Sep 2025
+CM
Positive contribution margin
Dec 2025
+EBITDA
Operational profitability
Mar 2026
+FCF
Free cash flow positive
Risk Analysis & Mitigation
| Risk Factor | Impact | Probability | Mitigation Strategy |
|---|---|---|---|
| Regulatory Delay | High | Medium | 12-month cash buffer + early engagement with CDSCO |
| Competition | Medium | Low | Patent protection + first-mover advantage + cost leadership |
| Adoption Rate | Medium | Medium | Pilot programs with outcome guarantees + KOL endorsements |
| Supply Chain | Low | Low | Multiple vendors + 90-day inventory + local sourcing |
Industry Benchmark Validation
Industry Gross Margin
~60%
POC Medtech average
Bio-Stride Gross Margin
83%
23% above industry
EBITDA Multiple
20-25×
Early-stage medtech
Revenue Multiple
5-15×
Pre-revenue stage