India Deal Monitor: Chiratae backs Aether Biomedical and more updates

Venture capital firm Chiratae Ventures Wednesday announced that it has made a seed investment in medical robotics company Aether Biomedical. Financial terms were not disclosed.

Other investors who participated in the round include Joyance Partners and Sunfish Partners, per a company statement.

The company said the funding will primarily be used for the commercialisation of its first product Zeus, a multi-functional hand bionic prosthesis, across India and Europe. The company also aims to continue its research and development efforts by building the next generation of the bionic limb and building accessory products like prosthetic wrists and elbows.

According to Aether, there are reportedly over 10 million amputees around the world and 80 per cent of them live in developing countries where the penetration of prosthesis is less than 10 per cent. India and China are considered the fastest-growing markets for prosthetics and orthotics in the Asia-Pacific region due to aging populations, growing awareness about new technology, and availability of funds. This is the market Aether seeks to address with its solutions.

INDIA DEAL MONITOR

Here are some prominent venture capital transactions in India between June 21 and June 24, 2020.

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)IndustryVerticals
Aether BiomedicalDelhi--Chiratae VenturesJoyance Partners, Sunfish PartnersBiotechnologyRobotics & Drones
91springboardNew Delhi5.9 million--Freakout, Shinsei Bank of Japan (reported) Real Estate Development & Operating CompanyReal Estate Tech
InstasolvNoida2 million-Vedantu-Education/TrainingEdTech
Yulu Bikes Pvt LtdBengaluru3.9 millionSeries ARocketship-Transportation ServicesRidesharing /Transport
High Street Essentials Pvt LtdDelhi2.7 millionPre-Series CSAIF Partners, India QuotientAbhishek DalmiaRetail-
MergerDomoNoida197,368SeedNadir Godrej, MD, Godrej Industries-Financial ServicesFinTech
Uvik TechnologiesBengaluru--Season Two Ventures-Financial ServicesFinTech
AmbeeBengaluru--Season Two Ventures-Consumer ProductsCleanTech
Svast California--Season Two Ventures-Healthcare ServicesHealthTech
HiLabsMeylan--Season Two Ventures-Healthcare ITBig Data

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.