Investment firm Orbimed led undisclosed funding raised by wheelchair maker Arcatron
Investment firm OrbiMed, which focuses on global healthcare, has contributed undisclosed growth capital to consumer medical startup Arcatron Mobility. The round was also attended by current backers BL Taparia Family Office, Chona Family Office, MGA Ventures, and the founders of Arcatron.
The money raised will go toward expanding R&D initiatives, creating new goods, and improving branding and marketing.
Established by Ganesh Sonawane and Arif Khan, Arcatron provides mobility assist devices, such as wheelchairs for patients with restricted mobility, orthopaedic insoles, and ergonomic cushions for improved comfort and pain management, under its flagship brand, Frido.
In addition to its own website and more than 1,000 physical locations nationwide, the Pune-based startup sells its goods on all e-commerce platforms.
The $21 billion AUM PE firm OrbiMed (OrbiMed Advisors), located in the US, recently raised about $4.3 billion to fund healthcare startups in Asia.
Among the many hospitals in Orbimed’s portfolio in India are the tertiary hospital chain KIMS, Blue Sapphire Healthcare Private Ltd., LifeCell, Kapiva, Bharat Serum, and the Asian Institute of Medical Sciences (AIMS), which is run by Ecron Acunova, a clinical research organization.
