Pune, India – 15th February, 2024 –
Arcatron Mobility Pvt. Ltd., a fast-growingconsumer medical company, announced that it has raised growth capital from OrbiMed, a global healthcare-focused investment firm. Existing investors BL Taparia Family Office, Chona Family Office, MGA Ventures and founders of Arcatron also participated in the round. The funds will be utilizedtoramp up R&D efforts,develop new products and enhance branding and marketing.
Arcatron under its flagship brand “Frido” offers mobility assist devices like wheelchairs for patients with limited mobility, orthopaedic insoles and ergonomic cushions for pain relief and comfort enhancement.The Company offers its products across all leading E-commerce platforms, own website and 1,000+ stores across the country.
Arcatron’s founders Ganesh Sonawane and Arif Khan, view this investment as a catalyst for expanding product development and reaching more customers. They are excited about the opportunities that this partnership with OrbiMed opens up.
Dr. Sunny Sharma and Sumona Chakraborty of OrbiMed are joining the board of Arcatron. Dr. Sunny Sharma, Partner and Senior Managing Director OrbiMed Asia, said, “We are very impressed with the team’s expertise in product development and marketing,and are excited to partner with Arcatron in building a leading consumer medical company.”
About Arcatron Mobility Pvt Ltd
ArcatronMobility Pvt. Ltd. is a consumer medical company offering mobility assist devices like wheelchairs for patients with limited mobility,orthopaedic insoles and ergonomic cushions for pain relief and comfort enhancement. The Company’sconsumer healthcare brandFridooffers its products across all leading E-commerce platforms, own website and 1,000+ stores across the country. Based in Pune, India, Arcatron is dedicated to making a positive impact by solving unmet needs for its customers.
Press Contact:
Website: https://www.myfrido.com/
OrbiMed (OrbiMed Advisors) is an American investment firm based in New York City, United States. It is focused on making public and private investments in the Healthcare and Biotechnology industries. OrbiMed is considered to be one of the largest dedicated healthcare investment firms in the world, with a total AUM of $21 billion. The PE firm had recently raised around $4.3 billion to invest in healthcare startups in the Asian continent.
Orbimed’s India portfolio includes: Asian Institute of Medical Sciences (AIMS), which is operated by Blue Sapphire Healthcare Private Ltd., Marksans Pharma, LifeCell, Kapiva, Bharat Serum, tertiary hospital chain KIMS, and clinical research organization Ecron Acunova amongst several others.
Most of Orbimed’s deals are in the range of $15 million to $35 million.
