Hyderabad-based Startoon Labs, a product research and development startup, has received from the Biotechnology Industry Research Assistance Council (BIRAC), Government of India, a grant of Rs 50 lakh for its medtech device ‘Pheezee’, which is a smart physiotherapy toolkit designed to monitor and report on patient rehabilitation and recovery by tracking their mobility and muscle strength. The toolkit is suitable for rehabilitation care, pediatric and sports physiotherapy.
The startup has received grant under BIRAC’s Biotechnology Ignition Grant Scheme (BIG.
The startup will utilize the funds received for R&D, preliminary clinical investigation and creating a market-ready product and strategy. “‘Pheezee’ is a step towards designing, developing and building an indigenous product to serve the orthopedics and physiotherapy segment of the healthcare ecosystem” said Startoon Labs co-founder Susurla VS Suresh.
Incubated at WE-Hub, a women-exclusive incubator led by Telangana state government, Startoon Labs has recently raised undisclosed amount in its first round of equity funding.
WE Hub CEO Deepthi Ravula said, “WE Hub is a platform on which we are bringing the entire ecosystem together to achieve the goal of guiding, mentoring and working alongside women entrepreneurs. In that effort, WE Hub inked an MoU with Atal Incubation Centre at Centre for Cellular and Molecular Biology (AIC-CCMB) to support biotech startups. Through this collaboration and with the IKP Knowledge Park’s support, WE Hub facilitated mentorship, guidance and advisory for Startoon Labs.
Recently in this month only, In-Med Prognostics, a Pune-based Brain Health Prognosis Startup, has also received Biotechnology Ignition Grant of Rs. 50 Lakhs for a duration of 18 months from BIRAC.
BIRAC has recently launched ‘BITS BIRAC BioNEST Lab’, a state-of-the-art startup incubator facility for startups, in Goa. The incubator, launched in K K Birla Goa Campus of Goa, was in association with BITS Pilani.
[Top Image – TheNewsMinute.com]
Source – Times of India