Maverick Simulation Solutions Limited

Maverick Simulation Solutions Limited A. Introduction Maverick Simulation Solutions Limited is a Delhi-based medtech company that creates simulation tools for medical and nursing training. Its systems act like practice machines—similar to flight simulators for pilots—allowing students and doctors to learn surgeries and clinical procedures safely without using real patients or cadavers. By replacing traditional classroom learning with hands-on training, Maverick helps hospitals and medical institutions improve skill-based medical education. B. Technology-Driven Business Model i) Uses in-house R&D + global tech tie-ups to create advanced medical training solutions ii) Designs and manufactures a full range of simulators, from basic skill trainers to high-fidelity patient and anatomy systems iii) Integrates AR/VR and digital anatomy platforms to offer modern, tech-enabled learning iv) Sells products directly to hospitals, medical colleges and nursing institutes, avoiding middlemen v) Also earns by setting up complete simulation labs, including: Virtual dissection labs Digital anatomy rooms High-fidelity training spaces vi) Provides end-to-end turnkey solutions (ready to use), giving institutions both equipment and full training infrastructure C. Product Portfolio The company offers 40+ medical simulators, ranging from low-fidelity task trainers to high-fidelity systems costing up to ₹5 crore. Key offerings include: i) Surgical and procedure simulators ii) Vascular access trainers, airway management simulators, and injection arms iii) Highly realistic virtual anatomy/dissection tables iv) Full-body patient simulators, respiratory simulators (LuSi) and Test Chest v) Complete simulation-lab environments for colleges and hospitals These solutions are used for skill assessment, clinical drills, surgical training, and emergency preparedness. D. Industry & Market Opportunity India’s growing healthcare infrastructure, mandatory skill-based training norms, and increasing cadaver shortages have accelerated adoption of simulation technologies. The country’s medical education sector presents a high-growth market for training systems, currently driven by digital learning, AR/VR adoption and expanding nursing/MBBS seats. As one of the few indigenous simulation developers, Maverick is positioned to compete in a space dominated by costly imports. E. Capital Investment & Strategic Expansion

1Investor-Backed Scaling (2023–24) Innovations Venture Studio acquired a 12.5% ownership stake in Maverick to accelerate manufacturing, commercialization, and overseas expansion. Funding is being utilized for setting up turnkey simulation labs, building export-compliant models, and scaling partnerships with DRDO, AIIMS, IITs, and leading global simulation companies 2. ₹50-Crore R&D Investment (2025) Maverick has committed ₹50 crore to develop AI-, AR- and VR-enabled simulators, clinical-skill trainers and high-fidelity patient models. The initiative includes building India-centric simulation IPs, scaling product manufacturing, and expanding deployment to 250+ medical and nursing institutions across government and private sectors.

3Breakthrough Institutional Adoption (2025) The company installed India’s first Virtual Anatomy Table at VMMC & Safdarjung Hospital, establishing Delhi-NCR’s first fully digital anatomy lab. This deployment showcases Maverick’s ability to replace cadaver-based education with real-tissue 3D visualisation, virtual dissection, and pre-surgical planning models..

4Market Penetration Strategy Maverick is expanding through hybrid pricing (₹2,500 to ₹5 crore), SaaS-based simulation software, and turnkey lab setups to drive adoption in Tier-I medical colleges and Tier-II/III nursing institutes, aiming to reduce import dependence and democratize medical training infrastructure nationwide. What is Maverick worth? To value Maverick, first we need to count its shares. Then we multiply by the ₹3,118 price the new investors are paying in the latest round in Oct-26. Shares before the EGM Type Number Equity shares 49,13,851 Series A CCPS 3,53,658 ESOP pool (for employees) 1,42,720 Total on a fully diluted basis, as per the notice 57,27,952 The Series A CCPS were issued to promoters and insiders at ₹1,640 each. Item 8 of this EGM changes their conversion ratio from 1:1 to 1:1.45, so they will turn into about 5.13 lakh equity shares instead of 3.54 lakh. The notice doesn't show exactly how it arrives at 57,27,952, so treat the split above as approximate. Shares after the EGM Step Shares added Total shares Promoter % Value at ₹3,118 Before EGM – 57,27,952 69.45% ~₹1,786 crore Loan conversion 41,853 57,69,805 69.67% ~₹1,799 crore Series B fundraise 4,02,496 61,72,291* 65.13% ~₹1,925 crore Voxel-Man tranche 1 (2%) 16,677 61,88,968 65.22% ~₹1,930 crore Voxel-Man tranche 2 (98%) 8,17,190 70,06,158 69.28% ~