Social Hardware is an assistive technology startup offering silicone rubber prosthetic hands that are dust, UV, stain, dust, and water-resistant. The company secured a fresh capital of Rs 3.2 crore in its ongoing seed funding round from Inflection Point Ventures.
This funding round saw the participation of several investors including Soonicorn Ventures and Ivyleague Ventures. The startup plans to use these fresh proceeds to scale its operations, enhance its research and development team, increase its sales and marketing team, and develop its market presence.
The company also intends to use some of this investment to strengthen the research and development effort with go-to-market initiatives. The innovation startup offers assistive devices, field robotics, and bionics to help the disabled. The company develops its products with Tmega328 microcontrollers, Arduino IDE-compatible EEG, IR-based controls, or EMG.
The prosthetic hands attach to the M12 wrist unit. This marks the first official funding round for the company since its inception. The data intelligence platform, tracxn mentioned that the company has an annual revenue of Rs 3.37 lakh as of March 31, 2021. The company has one institutional investor iCreate.
The Bengaluru-based startup specializes in teleoperated robotic systems designed for hazardous operations. The firm provides its devices in defense, manufacturing, aerospace, and infrastructure industries.
The company offers its services and innovative solutions to enhance operational efficiency and safety in challenging environments. Entrackr reported the development first. The investment will help the company strengthen its product development and expand its network in the market. The development came just when the assistive technology market saw increased investor interest.
Social Hardware claims to operate in two locations across Bengaluru with a team of 17 employees. The startup has a corporate office in Hebbal and a research and development facility in Rajajinagar. The company posted that it has a production capacity of 12 units for the financial year 20234-2025. This number is set to increase by three times in FY26 to 36 units.
The company aims to get a revenue capacity worth Rs 24.76 crore. The startup faces competition from other providers of robotic arm and support products like Myomo, Cionic, and Ossur. Social Hardware and its competitors have raised over $208 million across 84 funding rounds.
Conclusion :
Social Hardware is an assistive device and field robotics providing assistive technology startup The startup raised fresh capital of Rs 3.2 crore from Inflection Point Ventures in its ongoing seed funding round. This funding round saw participation from several investors including Ivyleague Ventures and Soonicorn Ventures. The company plans to use this amount to scale its operations, improve its research and development efforts, strengthen its marketing, and enhance its performance capability.
The startup offers teleoperated robotics systems and silicone rubber prosthetic hands. This investment shows the trust of Inflection Point ventures in the company’s business model and market potential. The company claims to have its offices in two locations across Bengaluru. The startup competes with other companies in this market segment such as Cionic and Myomo.
image source: entrackr
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