Consumer medical startup Arcatron Mobility has raised undisclosed growth capital from OrbiMed, a global healthcare-focused investment firm. Existing backers BL Taparia Family Office, Chona Family Office, MGA Ventures and founders of Arcatron also participated in the round.
The proceeds will be used to ramp up R&D efforts, develop new products and enhance branding and marketing.
Founded by Ganesh Sonawane and Arif Khan, Arcatron under its flagship brand ‘Frido’ offers mobility assist devices like wheelchairs for patients with limited mobility, orthopaedic insoles and ergonomic cushions for pain relief and comfort enhancement.
The Pune-based startup offers its products across all e-commerce platforms, its own website and over 1,000 stores across the country.
US-based PE firm OrbiMed (OrbiMed Advisors) with a total AUM of $21 billion had recently raised around $4.3 billion to invest in healthcare startups in the Asian continent.
Orbimed’s India portfolio includes Asian Institute of Medical Sciences (AIMS), which is operated by Blue Sapphire Healthcare Private Ltd., Marksans Pharma, LifeCell, Kapiva, Bharat Serum, tertiary hospital chain KIMS, and clinical research organization Ecron Acunova amongst several others.
