256: Solving Sexual Health Issues thru Good Vibrations… Soum Rakshit of MysteryVibe

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Background on Soum Rakshit of MysteryVibe:

Soumyadip Rakshit is the CEO and Co-Founder of MysteryVibe, which is an award-winning world leader in medical devices for sexual health. Soum created MysteryVibe to address one of the biggest personal challenges – keeping the ‘mystery’ in the bedroom, especially after major life events like childbirth, menopause, cancer treatment or surgery. To make this happen, Soum and his team have combined their deep research & engineering expertise with leading doctors to create devices that address major sexual health issues such as erectile dysfunction, dryness & pain during intercourse. Their devices combine the best of humanity & technology to help people regain and revitalize their sexual health at every stage of their life.

Growing up in Kolkata, India, Soum attended an Irish Jesuit school, which he was very grateful for because of their teachings about kindness. He moved to the UK to continue his studies and took up his PhD at the University of Bath specializing in human iris recognition. Through the success of his PhD, he was able to be a part of a startup that paved the way towards his entrepreneurship journey. Today, Soum is a serial entrepreneur and Co-Founder of sex-tech company, MysteryVibe . His mission is to apply Intelligence of Things to the world of Pleasure and create an immersive experience to transform bedrooms into sensual sanctuaries.

Time-Stamped Show Notes:

  • [2:10] MysterVibe comprises 15 employees, who are mostly in R&D and based in the UK. In terms of revenue, they are expecting to reach around $8 million this year.
  • [3:00] Soum talks about their sexual health products.
  • [4:26] Having a PhD in Biomedical Engineering, Soum eventually found his way into the sexual health business.
  • [7:25] Their first product focused on post-childbirth pain.
  • [8:33] Soum explains pelvic floor physical therapy.
  • [11:50] When Soum and his Co-Founders started MysteryVibe, they did not know if the market would be interested in their product.
  • [12:43] The capital for starting MysteryVibe amounted to a million pounds.
  • [15:39] The other two Co-Founders of MysteryVibe were Soum’s wife and Rob, the CTO of the company.
  • [20:13] Experiencing and seeing the complex childbirth of his sister, this became the driving force for Soum to find ways to help mothers having these medical problems.
  • [21:55] Aside from creating their products, MysteryVibe also focuses on writing content on all sexual health topics.
  • [24:39] From building and engineering sexual health devices, MysteryVibe added writing content pieces in their company growth and evolution.
  • [26:39] The clinical oriented website for MysteryVibe is called MySexMD.com. This website focuses on clinical texts that are geared towards doctors and health practitioners.
  • [29:21] At 12 years old, Soum fell in love with engineering, hardware, and building computers.
  • [30:49] Growing up in Kolkata, India, Soum went to an Irish-Jesuit school which taught him the importance of kindness.
  • [33:08] Soum talks more about the Jesuit school he went to in India.
  • [35:54] Moving to the UK to continue his studies, it wasn’t much of a change or adjustment for Soum.
  • [39:26] During his PhD, building iris biometrics software, Soum and his professor started their first startup.
  • [41:03] Soum continues to discuss his first startup called Smart Sensors, which was eventually acquired by another company in 2009.
  • [46:19] There were two reasons why Soum’s professor chose him to join the startup.
  • [47:29] Austin and Soum delve more into the topic of biometrics.
  • [49:16] Having a real, practical, and hands-on application is why Soum chose the biometrics field as his PhD.
  • [51:08] The iris recognition startup was bought for $20 million.
  • [55:38] The idea for his PhD started on a blank piece of paper.
  • [59:56] Since he was 14 years old, Soum has already been coding in C. By the time he was doing his PhD, he was already well-versed in coding.
  • [1:04:06] When there is one error in coding, everything fails.
  • [1:06:07] Soum shares the story on how their first startup was acquired by one of their clients based in California.
  • [1:08:00] Being idle and doing nothing are things that Soum cannot imagine doing, even when he’s on a holiday.
  • [1:10:24] Having money and security, which makes for a strong safety net, can make it easier to take risks and do something without getting paid. Soum points out that this is something that is not being talked about enough.
  • [1:12:12] When Soum went into Consulting, he learned selling as a concept.
  • [1:14:11] When it comes to sales, Soum is direct, logical, and always based on facts. He gives an example of how he conducts his sales.
  • [1:16:31] Soum provides another example in Consulting wherein he worked with Cannon.
  • [1:23:27] After seven years of working in the corporate world, Soum decided to leave and start his own business.
  • [1:29:01] Part two of the interview with Soum Rakshit.
  • [1:29:34] In 2014, Soum started MysteryVibe, which initially focused on pelvic pain after childbirth.
  • [1:31:27] If someone says that their product is a sex toy, Soum highly encourages it.
  • [1:32:46] Soum describes the uniqueness of the design of their products, which makes it very effective.
  • [1:34:31] They have a device that helps with prostate problems and erections. Soum discusses further their devices.
  • [1:38:39] Providing kits in hospitals that a patient will get after a prostate cancer surgery, can be one of the ways on how they can erase the stigma of being a sex device.
  • [1:41:02] Souma shares the two biggest things he has learned in his entrepreneurial journey.
  • [1:42:47] The reason why Souma travels a lot is because he believes that the best way to build a relationship in healthcare is to meet people face to face.
  • [1:46:16] As an engineer, Souma loves being hands on and being physically present.
  • [1:47:26] Souma shares some of the things that happen during their medical conferences.
  • [1:49:37] Someone in a conference borrowed their device and brought them back the next day.
  • [1:51:54] Souma shares the biggest challenge for someone in the medical field.

Soum Rakshit Interview is Sponsored By:

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The Fabulous 4 Questions:

  1. 📖📚 Favorite Books? Shoe Dog by Phil Knight, The Power of Perseverance by Myriam Irizarry
  2. 🙌😎 Favorite Amazon.com purchase? Podcast Microphone
  3. 🌱💸 Favorite Tool that's GROWN your Business? Trello – Keeping track of every little thing to do, so I don't have to
  4. 💭💡 BIGGEST Challenge keeping your Business from GROWING? Fundraising – Due to limited access to capital in the sexual health space

Key Point from Our Episode with Soum Rakshit:

  • “It’s very exciting to have a grand forecast but if you miss them too many times, people lose faith in you. Whereas, if you set reasonable but ambitious targets and then you hit them consistently, or even better exceed them, then that itself is the story.”

Resources Mentioned:

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