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Arcatron Mobility a med-tech startup raised a funding of $100k

Arcatron Mobility a Pune based medical technology startup has raised a funding of $100k from Vaibhav Kulkarni- CEO of Anandkanda and Sudhir Mehta- Indian Angel Network. The funds will be utilized in technology enhancement and Research & development.

Vaibhav kulkarni is a co-founder of Anandakand,in a heathtech company, it is a part of Anushree Industries India Pvt Ltd. Prior to this, he worked as an executive for Westin Pune Koregaon Park. Surmount Advisors advised Arcatron for funding.

Arcatron Mobility was founded in June 2015 by Ganesh Sonawane, Dewaj Baruah and Laxmikant Banjarey. It is building mobility devices for individuals with elderly care needs and limited mobility. Products are designed to help consumers to lead active and independent lifestyle aiming to solve the unmeet needs for elderly and mobility impaired.

Arcatron Mobility mission is to use technology to enable the focus on consumers to lead more active and safe lifestyle. In February 2016, it won the title of SURGE’s best startup among the list of 40 startups that pitched at the event.

Ganesh Sonawane, co-founder and CEO of Arcatron said

“We have slightly modified our fundraising strategy and postponed the angel round by a few months to plan the capital and action points well to help us reach the next level. Till the angel round, we closed a bridge convertible equity financing round of $100,000 led by Vaibhav Kulkarni.”

In March 2016, The startup was having discussion with investors for raising Rs 4 crore in an angel round. It competes with Invacare and Vissco. Prior to this, it raised seed funding from Anoop Hingorani- Manager at National Bank Kuwait and ex-DGM of Reliance Industries and Sudhir Mehta- Chairman and MD of Pinnacle Industries.

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