The Poland and New Delhi-based startup, Aether Biomedical, a medical robotics company focused on developing rehabilitation devices, has raised an undisclosed sum in the seed round led by Chiratae Ventures. Other investors Joyance Partners and Sunfish Partners also participated in the round.
Co-founded by Dhruv Agrawal and Faith Jiwakhan, the startup has used robotics, mechatronics, machine learning along with biomedical signal processing to create ‘Zeus’ a multi-action bionic arm.
The team also claims to offer one of the highest grip forces in the market and is priced at a much affordable rate to bring a larger set of amputees under their purview.
They have been able to achieve this by employing some of the latest advancements in biosignal processing, machine learning, and additive manufacturing, which have the potential to further expand the scope of their solutions in the broader sphere of data-driven rehabilitation, the startup said in a statement.
The global prosthetics and orthotics market size was estimated at $9.2 billion in 2019 and is expected to exhibit a CAGR of 4.6 percent until 2027. The Asia Pacific continues to be a huge market and is expected to have the highest growth by 2025, it said.
The funding is part of Chiratae’s DeepTech Innovators Programme, which is in its sixth edition.
India and China are considered the fastest growing in the region due to increasing ageing populations, growing awareness about new technology, and the availability of funds. Aether’s top markets include developing regions like India and other countries in the Asia Pacific region.
“We see deep-tech playing a pivotal role in shaping scalable solutions across verticals. As technology evolves, so does the benchmark for innovation, Aether and its team is a great example of that,” added Sudhir Sethi, Founder and Managing Director, Chiratae Ventures.