Life Monitor Shark Tank Episode Summary
Life Monitor is a unique device that measures heart rate, blood pressure and temperature in livestock animals. You got it correct, in livestock. This was pitched in Shark Tank Mexico in 2021, and I decided to cover it because we often forget about how amazing and useful entrepreneurs’ inventions can be.
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Livestock like cows, sheep, pigs, goats, chickens, and more, are at the foundation of many countries’ economy. If the supply had to perish because of diseases or other issues, we would all feel the ripple effects. There will be fewer supply, and fewer supply with the same demand will cause prices to go higher.
That is why I thought that Melina García Herrera had a wonderful idea, worth this blog post. While this is not one of the show from the last season of Shark Tank US, it’s worth reading!
Life Monitor Shark Tank Pitch
Melina García Herrera, a 24-year-old entrepreneur with a degree in Business Administration, pitched her business at Shark Tank Mexico in 2021. The product, Life Monitor, comes from a technology-based venture focuses on developing devices for the agro-industrial sector, specifically for monitoring vital signs in cattle.
What Does Life Monitor Do?
Life Monitor is a sensor that, once placed on a cow’s ear, measures temperature, heart rate, and blood pressure in real-time, allowing for early detection of diseases in cattle. This is crucial in Mexico, the fourth-largest beef exporter with an annual production of 38 million cattle. Currently, 13% of cattle are lost due to undetected diseases, causing a significant economic loss.
Life Monitor Development
After five months of software training and client feedback at a pilot ranch, Herrera looked for an investment of one million pesos, roughly $60,000, for a 15% stake in her company. Her pitch highlighted the device’s potential to revolutionize cattle health management and reduce losses in the livestock industry.
Life Monitor Shark Tank Mexico episode was a success. Herrera received valuable feedback and an investment offer of 2 million pesos for a 40% stake in her company, setting the company valuation at 5 million pesos, roughly $290,000. Given the relevance of this project, multiple Sharks invested, among them: Ana Victoria García, Carlos Bremen, Arturo Elías Ayub, and Jorge Vergara.
This investment will accelerate the development and commercialization of LifeMonitor, marking a significant step forward in the integration of technology in Mexico’s livestock industry.
Life Monitor Targeted an Underrated Technology Niche
Herrera’s project demonstrated how young entrepreneurs can make a business leap in high-impact technological innovations, particularly in sectors traditionally overlooked for technological advancements.
Her success story is part of a movement that wants to introduce high-tech inventions in agriculture, and highlighted the importance of early disease detection in livestock management.
What Makes Life Monitor Shark Tank Deal Important?
Ana Victoria García, CEO of Victoria147 and a judge on Shark Tank Mexico, is one of the Sharks who invested in Life Monitor.
I come from a family of ranchers, I know firsthand the importance and the losses generated by sudden deaths or diseases in cattle, having that experience and knowledge drove me to develop Life Monitor
Ana Victoria García
Herrera is a young entrepreneur in an industry that combines livestock and innovation. Despite mixed reactions from the media, her flexibility, resilience, and good ideas are unique. But because she’s young, people find it hard to trust her to lead such a large project. Here’s where the Mexican Shark Tank investors make the difference.
Costs and Monetization
The production cost of the device is $32, but Melina hopes that manufacturing on a larger scale will reduce the cost and make it sustainable for them and the ranchers. The planned price for the end user is based on a rental pricing model. The monthly cost is around $40 per device, together with a monthly rental of $4 for the app used to monitor vital signs across all animals and devices.
Life Monitor as a Disruptive Invention
Life Monitor is an electronic tag or earring that is placed on the ear of the ox or cow, and through an alert system via an app, the rancher can monitor the health status of each animal. According to its creators, Life Monitor can reduce premature death in animals by up to 40 percent.
It is a high-impact venture that makes technology a tool that allows increasing productivity in livestock. In Mexico, the field is rarely the subject of technological innovations, even though it represents a significant economic influx for the country. That’s why at LifeMonitor we are concerned about innovating solutions that help this area. We are focused on making this technological solution accessible to the ranchers who need it most.
Melina García Herrera
Life Mart took eight months to become reality. At this point they were able to test the prototype on a pilot ranch with good positive results.
Life Monitor aims to preserve animal health through an information and monitoring system that generates preventive control through a technological device. It is mainly aimed at small and large ranchers who want to enhance their production and reduce economic losses.
Conclusion
I see this activity as an important pillar for the country’s economy. I have always collaborated in the family business, but it was in 2014 that I decided to be the leader of a technology-based entrepreneurial project
Melina García Herrera
Melina has become an entrepreneur who faces the challenges and obstacles of growing her own company every day, but also the opportunity to surpass herself, reinvent herself, and maintain a constant learning attitude.
Seb
Seb is a PhD scientist by training, and an entrepreneur by heart. He started his first business while in elementary school, and he got in trouble for it! He then moved onto various online ventures, including consulting and e-commerce. Seb loved Shark Tank since he saw the first episode of Season one on TV. The rest is history.
