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Startoon Labs, which works on developing smart electronic systems that go into IoT and robotics, has raised maiden round of funding from family and friends.
The Hyderabad-based startup, incubated at WE Hub, an exclusive space set up for grooming women entrepreneurs, is currently developing a wearable product that helps assess the recovery of patients taking physiotherapy and orthopaedic treatments.
"It monitors and reports patient mobility and muscle strength," Mythreyi Kondapi, Co-Founder of Startoon Labs, told BusinessLine.
"Proceeds from the first round will be used to build Pheezee, the world’s first smart physiotherapy toolkit,’’ she said.
The startup, which has eight employees, is looking at hiring people for marketing and software development.
Mythreyi is an alumnus of Indian Institute of Management-Ahmedabad and Indian Institute of Technology-Madras. She had co-founded the company last year with her husband S V S Suresh, an alumnus of IIM (Kolkata) and IIT (Madras) to work on research and development and consultancy to serve and develop products for it clients.
“This is the first of the WE Hub startups to raise equity funding. We are working towards building on Startoon Labs' momentum by creating a robust, outcome-oriented roadmap for growth," Deepthi Ravula, Chief Executive Officer of WE Hub, said.
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