Krunal Prajapati is the founder of Brainiac Healthcare. Brainiac Healthcare is an Ahmedabad-based company that innovates cost-effective medical devices for the medical fraternity to improve their work efficiency.
Brainiac is currently developing a smart respiratory CO2 gas monitoring device for anaesthesiologists who are reliant on expensive products that do not match their work-life.
More about Brainiac Healthcare
The founder of Brainiac Healthcare, Mr. Kunal Prajapati, says that Brainiac Healthcare was incorporated in 2021. At first, he also worked as a research and development engineer. While working there, he experienced a few issues that medical fraternities were facing.
This made him switch to a new project and he started working on single individual problems. It also involved discussing those problems with medical fraternities and giving solutions for the same. After doing many iterations with different customers, Krunal came up with an idea to build this device, which can satisfy the customers with proper solutions and which is also a product market fit.
Lives touched by Brainiac Healthcare
Brainiac Healthcare developed its device after several tests and iterations. They are currently doing some clinical trials for the devices. It also includes the fact that they have tested around 17 patients. Those tests resulted in a good number of feedback and results.
The global respiratory monitoring devices market size is expected to grow from $1.17 billion in 2021 to $1.33 billion in 2022 at a compound annual growth rate (CAGR) of 13.3%. The global respiratory monitoring device market size is expected to grow to $2.07 billion in 2026 at a CAGR of 11.7%.
USPs of Brainiac Healthcare
In India, there are a very small number of anesthesiologists as compared to operating theatres. In small-medium scale hospitals, usually have around 5 operation theaters. It is not possible for anesthesiologists to monitor multiple patients at the same time. So the majority of anesthesiologists in India work as freelancers to provide services to other areas. For example, tier 1, tier 2, etc.
Brainiac Healthcare built its device as a small hardware device, which is for patients and mobile applications to transmit the data. This device helps and creates value for anesthesiologists at a low cost or in a cost-effective manner.
In each operation theatre, a small hard-piece device is attached to the patients, which will measure the CO2 level of the patients and transmit the data to the software. This makes the process very easy and flexible for anesthesiologists.
Brainiac Healthcare is funded or bootstrapped?
Brainiac Healthcare is bootstrapped, but they have also received a Nidhi EIR grant from CIIE.CO IIM Ahmedabad incubator. Apart from this, Brainiac Healthcare has also raised funds from the Startup India Seed Fund Scheme (SIFS) and with that, they’re going to have 20 lacs of fundraising.
Revenues in FY22 and planning for FY23
Brainiac Healthcare has started marketing its products via Pan India. And by that, they have received 15 confirmed orders. Also if the process gets completed by March 2023, Brainiac will be generating revenue of around 15 lacs.
Goals and expansion of Brainiac Healthcare
The founder of Brainiac Healthcare also states that “we have an aspect of CO2 monitoring. It is not just limited to anesthesiologists; it can also be helpful for them to find different kinds of parameters or abnormalities that are happening with the patient. For example, hypoventilation, hyperventilation, etc. In the future, we are also thinking of expanding our horizons in the AI segment, where it will be easy to predict the condition of the patient and act accordingly.”
Piece of advice for learning
As a medical device founder, Krunal Prajapati says, “You should have so much patience for yourself as things will take time. It is not just about developing the product, also you have to visit hospitals and doctors, talk with customers, do clinical trials, and get different kinds of approvals.”
(Edited by Neeraj Chouhan)