When Anmol Ajay Saxena entered the spotlight on Shark Tank India Season 4, she wasn’t selling a gadget; she was trying to solve a problem that hits close to home. For Saxena, founder and CEO of Ashva Wearable Technologies, knee health isn’t just a niche market—it’s a deeply personal cause.
“My mother’s ongoing knee pains and my weight-loss journey made me realise how poorly addressed knee health is in our healthcare system,” Saxena admitted in a conversation with BrandWagon Online. It’s the kind of problem most people don’t think about until it’s too late. Ashva Wearable Technologies’ total revenue for FY24 stood at Rs 53.63 lakh, according to filings accessed from Tofler. However, the company reported a sharp decline in net profit, posting a loss of Rs 61.92 lakh in FY24, as compared to a profit of Rs 22.76 lakh in FY23.
The Shark Tank India experience
Appearing on Shark Tank India was a pivotal moment for Ashva. While Saxena received valuable feedback, she didn’t shy away from the complexities of the business. The Sharks, intrigued by the novelty of the technology, asked tough questions about scalability and affordability.
Saxena described the experience as “interesting and full of learning.” The funds, she said, would primarily go toward marketing and patient education. However, the exchange also highlighted the challenges of introducing a novel technology in a conservative market.
Saxena pitched for Rs 50 lakh at 1.25% equity, valuing the company at Rs 40 crore. The pitch combined knee health innovation with humour, as the Sharks couldn’t stop laughing when Anupam Mittal struggled with a knee test and Anmol encouraged him with “push, push, push,” a phrase hilariously echoed by the other Sharks. The light-hearted banter turned serious as the financials were revealed: Ashva clocked Rs 50 lakh in revenue for FY 2023-24, with a burn of Rs 77 lakh, and has shown impressive progress with an H1 revenue of Rs 44.9 lakh in FY 2024-25, while reducing the burn to Rs 8 lakh. The gross margins also surged to 87% in H1. Despite a historically high burn rate, Kunal Bahl praised the promising financial trajectory, while Vineeta Singh called Anmol her “favourite founder ever.”
After intense negotiations, Vineeta Singh sealed the deal at Rs 50 lakh for 4% equity, valuing Ashva at Rs 12.5 crore, a significant step down from its initial valuation. The Sharks, impressed with Anmol’s quick thinking, lauded her ability to defend the business amid tough questions. Anupam Mittal, who playfully called her “Tiger,” commended her strategic mindset.
The real pain point
Knee injuries or chronic joint pain might not grab headlines, but their impact is widespread. For Saxena, the lack of targeted solutions for knee diagnostics became glaringly obvious as she navigated her own fitness journey and watched her mother struggle with mobility. This realisation formed the backbone of Ashva Wearable Technologies. Their flagship device, KneePort, aims to fill the gap in diagnostics and rehabilitation. From what is understood, it tracks a patient’s range of motion, muscle strength, and gait, using artificial intelligence to pinpoint the cause of pain—whether it’s muscular, neural, or joint-related. According to Saxena, it’s not flashy, but it’s practical, and in healthcare, practicality often wins.
Still, Saxena acknowledges that the challenge isn’t just technological but cultural. “In India, awareness about the importance of knee health is low. People don’t realise how much long-term damage they’re risking by delaying corrective action,” she pointed out.
Ashva has carved a foothold in the healthcare market with over 115 hospitals and physiotherapy clinics using its technology. By next year, the company hopes to expand to 450 centres. But this is a long game, and Saxena knows it. The devices themselves aren’t cheap. Fitmust, their smaller diagnostic device, costs Rs 85,000, while Fitknees, a more advanced version designed for clinics and hospitals, is priced at Rs 7.5 lakh. For patients, a single KneePort session costs Rs 1,000—relatively affordable for critical care but still out of reach for many.
Saxena acknowledges the hurdles. “We’re working on lowering costs and exploring rental models. Right now, our goal is to ensure that even small neighbourhood physio clinics can access world-class technology,” she said. The company’s ambitions are clear, but the journey won’t be easy. Healthcare, especially in India, is a tough sector to disrupt. Accessibility is key, but balancing affordability with profitability is a constant struggle.
The road ahead
Knee health might not seem like the most exciting corner of the healthcare industry, but Ashva is betting on its importance. For now, the company’s success lies in its ability to educate patients and professionals about the hidden costs of ignoring joint health. “People don’t realise that untreated knee pain can lead to lifelong disabilities,” Saxena said. The uphill battle to bring down costs, raise awareness, and scale operations continues, but Ashva’s journey is a reminder that innovation doesn’t always need to shout—it just needs to move.
For a company focusing on something as unglamorous as knees, the stakes couldn’t be higher. Whether Saxena’s vision succeeds will depend on her ability to walk the fine line between empathy and enterprise. After all, solving a problem is one thing; making people care about it is another entirely.