Hyderabad-based Startoon Labs, an early stage startup incubated at WE Hub, has raised its first round of equity funding. Startoon Labs is a product development company that is designing and developing industrial-grade IoT products and smart electronics systems in the embedded systems and robotics fields.
The funds raised will be used by the startup to build Pheezee, the worldâ€™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.
â€śAs 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,â€ť Mythreyi Kondapi said in a statement.
Founded by Mythreyi Kondapi and Susurla V S Suresh in November 2017, Startoon Labs develops smart electronic systems catering to the current needs of the market through the design and development of products, and algorithms in the engineering, embedded systems, IoT and robotics fields.
â€śHardware is an integral part of any device or machine. When we started out, a lot of software was being built indigenously but hardware is still at a very nascent stage. Startoon Labs was incorporated with the vision of building indigenous systems in the field of IOT and healthcare. Our healthtech product 'Pheezee' is a step in the direction towards designing, developing and building an indigenous product to serve the orthopaedics and physiotherapy segment of the healthcare ecosystem,â€ť Susurla Suresh said in a statement.
Startoon Labs led by Kondapi is part of the first cohort of 26 women-led startups selected for incubation at WE Hub. WE Hub is a Government of Telangana initiative to promote and foster womenâ€™s entrepreneurship, built on the lines of T-Hub, which is currently Indiaâ€™s largest startup incubator.
Going forward, WE Hub will enable market linkages for the commercial adoption of Startoon Labsâ€™ physiotherapy device, Pheezee.