In India, millions of patients struggle with dialysis accessibility due to high costs and limited infrastructure. Shashank Moddhia, founder of The Renal Project, is on a mission to change this reality. With a master’s degree in biomedical engineering from the University of Texas, Shashank transitioned from working with GE Healthcare and Philips to founding a healthcare startup that provides affordable and accessible dialysis services across India.
Today, The Renal Project has expanded to nearly 200 centers across the country, making dialysis more accessible and affordable, particularly in underserved regions.
Shashank Moddhia on The Renal Project
Q: What inspired you to start The Renal Project?
Shashank Moddhia: I come from a medical family—my father is a doctor—but my interest was in technology. After my education, I worked with companies like GE Healthcare and Philips. From 2013 to 2018, I served as the Quality Head for a dialysis machine manufacturer, managing installations across the Asia-Pacific region.
“During this time, I realized that dialysis access in India was critically low. Around 3 lakh people die each year because they have to travel 50-100 km for dialysis. This made me decide to quit my job and return to India to create an impactful solution.”
Q: What was the biggest challenge in India’s dialysis ecosystem?
Shashank Moddhia: There were dialysis machines in India, but the numbers were drastically low. The main issue is the shortage of nephrologists—we have fewer than 3,500 nephrologists for a population of 1.3 billion. These specialists are overwhelmed with patient care and don’t have time to manage dialysis centers.
“Running a dialysis center requires expertise beyond medical knowledge, including machine maintenance, water quality testing, and infection control. Because of this complexity, very few organized players have entered the dialysis service sector.”
Q: What differentiates The Renal Project from others in this space?
Shashank Moddhia: In dialysis, execution is everything. Unlike pharmaceuticals or medical devices, dialysis is a service industry—there are no patents or proprietary technologies that create a competitive advantage. The differentiator is how well the service is executed.
“Many dialysis centers fail due to operational inefficiencies. We focused on delivering consistent, high-quality care at lower costs, which allowed us to scale rapidly.”
Q: What was your team like in the early days?
Shashank Moddhia: In the beginning, it was just me, an accounts person, and an operations head. The operations head had over 10 years of dialysis experience, working as a technician before becoming a supervisor. As we grew, we added a marketing team, regional managers, a CA, and a supply chain team.”
Q: How was your experience pitching on Shark Tank?
Shashank Moddhia: I didn’t prepare much because I’ve always been comfortable on stage. The episode was shot in one continuous take, with no retakes. The toughest question was about scaling the business—I didn’t have a sales team, and my approach was always more organic, relying on word-of-mouth rather than aggressive sales tactics.
Q: How did you determine your company’s valuation on Shark Tank?
Shashank Moddhia: Valuation at an early stage is more of an art than a science. I used the ARR (Annual Recurring Revenue) model, multiplied by an industry standard of 5x for healthcare.
“However, early-stage valuations are also driven by signed contracts, growth potential, and market demand. It’s a mix of calculated estimates and future projections.”
Q: What was the most challenging feedback from the Sharks?
Shashank Moddhia: The Sharks wanted a concrete scaling strategy, but my focus has always been on quality execution rather than aggressive expansion. While this answer didn’t give them a defined plan, it was a reflection of how we operate.
Q: How did Shark Tank impact your business?
Shashank Moddhia: Post-Shark Tank, we expanded significantly. Initially, we were focused in Maharashtra, but after the show, we expanded into Gujarat and Rajasthan. Today, we have nearly 200 centers, including those in remote areas. Namita Thapar’s investment and mentorship have been instrumental in scaling our business.
Q: What is mentorship like after securing investment from the Sharks?
Shashank Moddhia: The Sharks are extremely busy, so it’s important to be specific with requests. For instance, when I needed marketing advice, I asked Aman Gupta for 30 minutes. He ended up giving me over 2 hours of insights, helping us refine our website and branding. Similarly, with Namita Thapar, focused discussions helped us get maximum value from her expertise.
Q: Have you raised additional funding after Shark Tank?
Shashank Moddhia: Yes, we raised further investment from a group of nephrologists and JITO (Jain International Trade Organization). This funding has helped us scale and expand our dialysis network.
Q: How do you manage fixed costs while expanding?
Shashank Moddhia: We minimize fixed costs by focusing on variable costs. The main fixed expenses are technician salaries and machine leases. By ensuring new centers reach patient capacity quickly, we recover costs faster.
“Additionally, we use cross-training, allowing our staff to manage multiple roles, reducing hiring costs and improving efficiency.”
Q: What role does technology play in The Renal Project?
Shashank Moddhia: Technology is critical in scaling operations. We developed Vidur, a proprietary software that:
- Standardizes dialysis procedures across centers.
- Uses predictive analytics to track patient health.
- Identifies early warning signs for potential complications.
“Vidur ensures every session is delivered consistently and efficiently, regardless of location.”
Q: What advice do you have for aspiring entrepreneurs?
Shashank Moddhia: Entrepreneurship is not about escaping a 9-to-6 job or making a quick buck. It’s about solving a real problem and staying committed even when things get tough.
“Many people start businesses for the wrong reasons—but if you genuinely care about the problem you’re solving, that passion will drive you through the challenges.”
Final Thoughts
Shashank Moddhia’s journey with The Renal Project is a testament to how innovation and execution can transform healthcare. By focusing on affordability, accessibility, and operational efficiency, his startup is making dialysis available to thousands of under-served patients across India.
As the company continues to expand into new regions, its impact on saving lives through better dialysis care will only grow.
Follow The Renal Project’s journey and stay tuned for more groundbreaking stories in Indian healthcare.
