Leaf Wearables, the company behind smart safety wearable device, SAFER has raised $250K in a seed round of funding from investors including Ajeet Khurana – serial entrepreneur, Mumbai Angels, Jinesh Shah – founding partner at Omnivore Ventures, Vikram Chachra – co-founder of Eight Capital, India’s leading Special Situations Investment Firm, Aniruddha Malpani – angel investor, Director at Solidarity Investment Advisors, Vijay Talreja – angel investor, co-founder and Director at Adapty Inc and others.
The raised capital will be used to expand Leaf Wearables’ product SAFER. “We hope to reach to the masses and contribute towards the safety of women with SAFER. The product has been developed to let women feel safer every time with a practical solution at an affordable cost,” said, Manik Mehta, co-founder of Leaf Wearables. The company claims to make 1 Mn families ‘SAFER’ by 2017.
The funds raised will be used to scale up the product and create inventory. Besides, the money will also be deployed to expand the technical team for product enhancement and improve the product offering by introducing new jewellery designs.
The startup was founded by Avinash Bansal, Ayush Banka, Chiraag Kapil, Manik Mehta and Paras Batra,
SAFER, is a smart safety device, which can be used to trigger alarm and send signals to pre-identified phone numbers in case of emergency. The device can be used as smart jewellery in the form of a necklace; and is available for INR 3500.
Another smart feature of the smart jewellery is the Saferwalk, which allows guardians to monitor journey. In this case, a destination has to be entered and then the user’s selected guardian can track the user in real-time. Additionally, the device also has sound notifications, which ensures no important call or message is missed. It also sends a reminder via the phone, if the user forgets to wear the device or forgets to carry the phone.
Since its inception, the company has been functioning on the founder’s money and the amount – around $80K – earned as prize money through various innovation and business plan competitions.
Currently, the SAFER app is available on Android platform and will soon be launched on iOS platform as well.
Leaf Wearables was amongst the top 10 innovative startups in India selected by the Department of Science & Technology, and accompanied Prime Minister Narendra Modi on his visit to Silicon Valley to participate in first India-U.S. Startup Konnect (September 2015).
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