Dr. Soum Rakshit, Co-Founder & CEO at MysteryVibe
Great Companies: How did you get your idea or concept for the business?
Dr. Soum Rakshit: From our research & experiences over the past 2 decades, we understood that a major challenge in most people’s lives is keeping the ‘mystery’ alive in a long term relationship. This is especially true after major life events like childbirth, menopause, cancer treatment or surgery. That’s why we decided to combine my defence electronics expertise with leading doctors & sexual health experts to create devices that address major sexual health issues like ED, dryness & pain during intercourse. Thus MysteryVibe was born.
Great Companies: What are the various services provided by MysteryVibe
Dr. Soum Rakshit: We create clinically-proven, FDA Class 2 medical devices that adapt to the user's body & deliver targeted vibrations to address genito-pelvic pain, penetration pain, arousal disorder & erectile dysfunction. Alongside this we work closely with sexual health experts to create educational content that act as catalysts for people to start much-needed conversations to reignite their sex lives.
Great Companies: What makes MysteryVibe different from hundreds of other similar service providers?
Dr. Soum Rakshit: We are the world leader in sexual health devices. We tackle big topics like Pain, Dryness, Arousal and Erection - using technology - without tablets, with comfort - without side effects. We are the only company in sexual health that spans both medical and pleasure. Our devices have won over 30 International awards and changed the lives of 100,000 users in 75 countries.
Great Companies: What were the struggles and challenges you faced and how did you overcome them?
Dr. Soum Rakshit: One of the biggest challenges with building any startup is fundraising. This is especially true for startups in the sexual health space due to various stigmas around it. The way we overcame this challenge is by reaching out to Angel investors all over the world who were passionate about the problem we were trying to solve and could relate to it themselves. Building the company with the help of angels not only gave us access to capital which would otherwise not be available to our sector, but also their expertise which proved invaluable over the past 9 years.
Great Companies: How do you plan to grow in the future? What does 5 years down the line look like for MysteryVibe?
Dr. Soum Rakshit: We have very exciting plans of launching 2 new products every year for the foreseeable future. Alongside, we will continue doing more of what we already do – medical studies, educational content and outreach.
Great Companies: If you had one piece of advice to someone just starting out, what would it be?
Dr. Soum Rakshit: Everything always takes longer and costs more than what we plan – try to factor in double the time and budget of what you estimate.