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Arcatron Mobility Raises $100K Funding

Arcatron Mobility Raises $100K Funding

Pune-based Arcatron Mobility has raised $100K funding led by Vaibhav Kulkarni (CEO of Anandkanda) and Sudhir Mehta from Indian Angel Network.

Founded in 2012 by Ganesh Sonawane, Laxmikant Banjarey, Dewaj Baruah, Arcatron is building mobility devices for individuals with limited mobility and elderly care needs. It designs products to enable consumers for leading more independent and active lifestyles aims to uniquely solve unmet needs for elderly and mobility impaired. Our Mission: Using technology to enable our focus consumers to lead more safe and active lifestyles.

The current round is a convertible note seed round to help the startup carry on R&D, International Patent filings and field trials for planned product before raising the angel round.

The startup is currently working on some technology patents in IoT and willing to build a strong IPR portfolio in future. Going further, the team aims to venture in a HaaS based model to enhance patient safety for hospitals, assisted living facilities and even for home care.

Ganesh Sonawane, CEO Arcatron said, “We are fortunate to bring in investors who are like minded and have a lot more to add than funding. Vaibhav brings in a high quality execution experience in healthcare domain. While Mr Sudhir Mehta is MD of Pinnacle industries which is our manufacturing partner, this helps us remain asset light and focus on core functions.”

The journey started with the founders winning a inter college design invent Aavishkar – Design for disabled. The founding team took up day jobs and began the journey part time with a passion for finishing the college prototype into product. Alongside, they learnt about the market and the big overlap of mobility needs with elder care.

The team’s findings pointed out that the trillion dollar elder care sector was lagging behind in use of technology, leading to high costs of care, preventable injuries, fatalities and poor quality of lives. The startups core philosophy is devised around ‘Purpose Driven Innovation’. At least 100 people from its pilots have been able to improve their hygiene routines and safety involved in their activities of daily living.

Earlier in February 2016, Arcatron Mobility won the title of SURGE’s best startup. The startup was chosen from the list of the last three startups shortlisted for the finals from the list of 40 startups that pitched at the event.


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Author

Aparna Mishra

Inc42 Staff

After a 2-year-stint at Ernst & Young, Aparna moved to Journalism. Her prior experience enables her to understand business management. An avid reader and a traveller she hopes to gain insights on the startup ecosystem at Inc42.

https://inc42.com/flash-feed/march-capital-partners-closes-240-mn-maiden-fund/
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