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Startoon Labs, an early stage startup incubated at WE Hub, has raised first round of equity funding.
The first round of capital raised will be used to build Pheezee, the world’s first smart physiotherapy toolkit. The device is designed to monitor and report on patient rehabilitation and recovery by tracking their mobility and muscle strength.
The Hyderabad-based Startoon Labs, is a product development company that designs and develops industrial-grade IoT products and smart electronics systems in the embedded systems and robotics fields.
Founded by Mythreyi Kondapi, alumnus of Indian Institute of Management-Ahmedabad and Indian Institute of Technology-Madras, and Susurla V S Suresh, alumnus of Indian Institute of Management-Kolkata and Indian Institute of Technology-Madras in November 2017, the husband-wife duo.
It has earned several laurels for their startup since its inception including being recognized as a Top 50 startup by the Department of Science and Technology, Government of India initiative “Smart Fifty – 50 Solutions to Transform India.”
Mythreyi Kondapi said, “As an electronics engineer, I desired to do research that would create impact. Pheezee was born out of a desire to address pressing existing needs in the physiotherapy domain. Hardware development is time consuming and capital intensive. Biomedical hardware is much more so given the stringent compliance, clinical validation and trials required. Finding Investors is always challenging; we are extremely glad that we found an investor that believed in our product and team.”
Startoon Labs led by Ms. Kondapi is part of the first cohort of 26 women-led startups selected for incubation at WE Hub.
“Going forward, WE Hub will enable market linkages for the commercial adoption of Startoon Labs’ physiotherapy device, Pheezee. The team at Startoon Labs represents the inclusive workforce, progressive talent and innovative mindset that we are championing at WE Hub” Ms. Deepthi Ravula, CEO of WE Hub, said.
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