Psyonic Bionic Hand Shark Tank Episode Update & Net Worth

Psyonic Bionic Hand Shark Tank Episode Update & Net Worth

Psyonic, founded by Dr. Aadeel Akhtar, appeared on Shark Tank in Season 15, Episode 15 seeking $1 million for 2% equity, valuing the company at $50 million. Psyonic has developed the Ability Hand, an advanced bionic prosthetic that provides sensory feedback and is controlled by muscle movements, designed to improve the quality of life for individuals with limb differences.

Psyonic was featured in Season 15, Episode 15 of Shark Tank. In his pitch, Dr. Aadeel sought $1 million for 2% equity, valuing the company at $50 million.

 He highlighted the following key features of the Ability Hand:

• Sensory Feedback: The Ability Hand is the first bionic limb that can provide sensory feedback, allowing users to feel sensations from multiple areas of their fingers.
• Muscle Control: The hand is controlled using muscle movements, making it intuitive for users to operate.
• Durability and Functionality: The Ability Hand is designed to be water-resistant and rechargeable via USB-C, with the ability to reverse charge small electronic devices.

• Save

During the pitch, the sharks were impressed with the product’s concept and potential. Ultimately, Daymond John, Kevin O’Leary, and Lori Greiner made an offer of $1 million for 6% equity, which Dr. Akhtar accepted.

Following their appearance on Shark Tank, Psyonic has continued to develop its technology and expand its reach. The company has been actively marketing the Ability Hand and is working on increasing production capacity to meet demand. The episode’s exposure has helped raise awareness of the product and its capabilities.

As of now, Psyonic is estimated to have a net worth of approximately $40 to $50 million, reflecting its valuation during the Shark Tank pitch and its potential in the prosthetics market.

Psyonic is still in business and actively working on enhancing its product offerings. The company continues to focus on providing innovative solutions for individuals with limb differences, aiming to improve their quality of life through advanced bionic technology.

What is Psyonic Bionic Hand? How Does it Work?

The Psyonic Bionic Hand is a state-of-the-art prosthetic device that allows users to experience the sense of touch, a first in the field of prosthetics.

 Designed by Dr. Aadeel Akhtar, the hand is controlled by the user’s muscles, responding to electrical signals from the residual limb. This allows for natural movement and grip, giving users a level of functionality that is often lacking in traditional prosthetics.

What sets the Psyonic Bionic Hand apart is its ability to provide tactile feedback, enabling users to feel the objects they are holding. This is achieved through advanced sensors embedded in the fingertips, which send signals to the user’s brain, simulating the sensation of touch.

The hand is also water-resistant and equipped with a USB port, which can even be used to charge devices, demonstrating the versatility and innovation behind this product.

The Psyonic Bionic Hand retails for $15,500, with a manufacturing cost of around $1,500. It is currently FDA-approved and covered by Medicare, making it accessible to a broader range of patients.

The device is primarily sold through social media and direct outreach, reflecting the company’s focus on connecting with customers who can benefit most from this technology.

Dr. Aadeel Akhtar, the visionary behind the Psyonic Bionic Hand, made a powerful impression on Shark Tank Season 15 with his groundbreaking prosthetic device.

 Psyonic is renowned for developing the world’s first touch-sensing bionic hand, a significant advancement in the field of prosthetics. The innovation and potential of Psyonic caught the attention of three sharks—Lori Greiner, Daymond John, and Kevin O’Leary—who collectively offered $1 million for 6% equity in the company.

• Save

Since appearing on Shark Tank, Psyonic has continued to generate interest and excitement, particularly among those in need of advanced prosthetic solutions. The company’s mission to provide accessible, high-tech prosthetics is bolstered by the support of these high-profile investors.

As of 2024, Psyonic’s net worth is on a steady rise, reflecting both the technological achievements of the bionic hand and the strategic partnerships formed through the show.

Psyonic Bionic Hand Shark Tank Full Episode ;What Happened at Shark Tank Pitch

During his Shark Tank pitch, Dr. Aadeel Akhtar captivated the sharks with the story behind the Psyonic Bionic Hand. He explained how, at just seven years old, he was inspired to help people with limb differences after meeting a girl his age who was using a tree limb as a crutch.

 This experience set him on a path that led to a PhD in neuroscience and eventually to the creation of Psyonic.

Dr. Akhtar asked for $1 million in exchange for 2% equity, valuing Psyonic at $50 million. He brought along Garrett Anderson, a retired army sergeant who lost his arm in Iraq and now uses the Psyonic Bionic Hand. Anderson praised the device as the best prosthetic he has ever used, highlighting its lightweight design and functionality.

The sharks were impressed by the hand’s features, including its touch-sensing capabilities, water resistance, and the USB port for charging devices.

 Dr. Akhtar shared that he had already raised $3.6 million in funding and another $2.2 million through crowdfunding, as well as $2.2 million in grants.

Despite these successes, the company faced challenges in keeping up with demand, with Dr. Akhtar aiming to produce 500 hands in the following year and 1,000 hands the year after.

Mark Cuban and Robert Herjavec ultimately declined to invest, citing concerns about the numbers and the scalability of the business. However, Kevin O’Leary offered $1 million for 10% equity. Dr. Akhtar countered, protecting his company’s valuation and offering 2% equity plus 2% advisory shares.

 After negotiations, Lori Greiner and Daymond John offered $1 million for 6% equity, with Kevin O’Leary joining them to form a three-shark deal. Dr. Akhtar accepted their offer, securing the funding needed to scale Psyonic.

• Save

What Happened to Psyonic Bionic Hand After Shark Tank?

After securing the deal on Shark Tank, Psyonic gained considerable attention, leading to increased interest in the Psyonic Bionic Hand. The investment from Lori Greiner, Daymond John, and Kevin O’Leary provided the capital needed to ramp up production and meet the growing demand for the bionic hand.

Psyonic continues to advance its technology, with ongoing research and development aimed at improving the functionality and accessibility of its prosthetic devices. The company has also enhanced its online presence, making it easier for potential users to learn about the product and begin the process of acquiring a bionic hand.

 Those interested can visit the Psyonic website to fill out a form, learn more about the hand, and explore the research behind this groundbreaking technology.

The deal with the three sharks has positioned Psyonic for significant growth, and the company is on track to expand its production capacity to meet the increasing demand. With FDA and Medicare approvals in place, Psyonic is poised to make a substantial impact on the lives of amputees and individuals in need of advanced prosthetic solutions.

How Much Is Psyonic Bionic Hand Worth?

As of 2024, Psyonic is valued at approximately $25 million, reflecting the company’s strong growth potential and the successful partnership with three Shark Tank investors. The investment from Lori Greiner, Daymond John, and Kevin O’Leary has provided Psyonic with the resources and strategic guidance needed to scale production and expand its market presence.

The Psyonic Bionic Hand is a leader in the prosthetics industry, offering unparalleled technology that sets it apart from other products on the market.

With ongoing innovations and the ability to meet the needs of a diverse user base, Psyonic’s valuation is expected to rise as the company continues to grow.

Is Psyonic Bionic Hand Still in Business?

Yes, Psyonic is still in business and thriving. The company continues to develop and produce its groundbreaking bionic hand, which has already made a significant impact on the lives of many users. The investment from Shark Tank has enabled Psyonic to increase its production capacity and reach more customers who can benefit from the advanced features of the Psyonic Bionic Hand.

Psyonic remains committed to its mission of making high-quality, affordable prosthetics accessible to all. The company is actively working on new innovations to enhance the user experience and expand its product line.

As more people learn about the Psyonic Bionic Hand and its capabilities, the company is poised for continued success in the prosthetics industry.

Which Episode Number was Psyonic Bionic Hand on Shark Tank?

Psyonic Bionic Hand was featured in Episode 15 of Shark Tank Season 15. In this episode, Dr. Aadeel Akhtar presented his innovative bionic hand to the sharks, sharing the personal story that inspired him to develop the device and the technological breakthroughs that make it unique.

The episode was a pivotal moment for Psyonic, leading to a significant investment that will help the company scale and reach more people in need of advanced prosthetics.

FAQs

Which Shark Tank season featured Psyonic Bionic Hand?
Psyonic Bionic Hand was featured in Season 15 of Shark Tank.

Did Psyonic Bionic Hand get a deal on Shark Tank?
Yes, Psyonic Bionic Hand secured a deal with Lori Greiner, Daymond John, and Kevin O’Leary for $1 million in exchange for 6% equity.

How much was Psyonic Bionic Hand asking for on Shark Tank?
Psyonic Bionic Hand was asking for $1 million in exchange for 2% equity.

What is the retail price of the Psyonic Bionic Hand?
The Psyonic Bionic Hand retails for $15,500.

Is Psyonic Bionic Hand FDA-approved?
Yes, the Psyonic Bionic Hand is FDA-approved and also covered by Medicare.

Where can I buy a Psyonic Bionic Hand?
Interested individuals can learn more and start the process of acquiring a Psyonic Bionic Hand by visiting the Psyonic website.