Powered by

Home Startup Funding

Startup Social Hardware raises ₹3.2 Cr in Seed Round led by IPV

Social Hardware, an inclusive innovation startup dedicated to designing cutting-edge assistive devices, bionics, and field robotics, has recently secured INR 3.2 Crore in a Seed Round.

By Ishita Ganguly
New Update
ipv
Listen to this article
0.75x 1x 1.5x
00:00 / 00:00

Social Hardware, an inclusive innovation startup dedicated to designing cutting-edge assistive devices, bionics, and field robotics, has recently secured INR 3.2 Crore in a Seed Round led by Inflection Point Ventures, with Ivyleague Ventures and Soonicorn Ventures joining as co-investors.

This significant investment will pave the way for the company to embark on key growth and go-to-market initiatives, shape a robust marketing and sales team, establish an advanced R&D facility, enhance in-house manufacturing capabilities, and bolster research and development efforts towards driving innovation in the field of assistive technology.

About the Founders

Founded by a team of visionary individuals, Social Hardware boasts a talented trio of co-founders who bring a wealth of expertise to the table. Abhit Kumar, the CEO, holds a background in Instrumentation and Biomedical Engineering, spearheading the development of assistive devices and robotic systems that have a profound impact on underserved communities and high-risk sectors like defense and aerospace.

Cameron Norris, the Chief Marketing/Management Officer, brings with him a wealth of experience in social digital marketing, having successfully scaled Wevolver, a global open-source hardware platform, to international acclaim.

Raghavendran Arunachalam, the CTO, holds advanced degrees in Electrical Engineering, specializing in electronics system design, embedded systems, and defense-grade product development, driving technical innovation at Social Hardware's core.

Also read: “Can one tweet wipe out ₹3,500 Cr in just two hours?” Thyrocare Founder doubts as Ola share price dropped after Bhavish-Kamra spat (startuppedia.in)

Advanced Robotics Solutions

Social Hardware distinguishes itself through its advanced, patent-pending teleoperation systems, featuring augmented reality (AR)-controlled robots equipped with gesture-based control technology. These cutting-edge systems redefine safety and efficiency in hazardous environments, offering an intuitive interface that enables precise remote control with minimal training.

The company's twin modular end-effectors, comprising biomechanical hands and specialized tools, provide versatile solutions for a diverse range of mission-critical tasks.

Moreover, their innovative mesh network technology ensures secure and reliable communication during operations, even in compromised environments, thanks to AES-256 encryption and automatic data rerouting.

Market potential 

With a team of 17 employees spread across two locations in Bengaluru, Social Hardware currently operates with a production capacity of 12 units for FY 2024-25.

This capacity is set to triple to 36 units by FY 2025-26, with revenue projections reaching ₹24.76 crore. The company has gained prominence through initiatives such as the #MyFirstRakhi campaign, empowering children with limb differences to participate in Raksha Bandhan using custom prosthetics, and the unveiling of the Eclipse robot at the Bengaluru Space Expo 2024.

Prospects and industry trends

The global teleoperation and robotics market is on a growth trajectory, with projections indicating a value of USD 22.5 billion by 2026, driven by increased demand in industries such as aerospace, defense, and industrial sectors for safer remote operations.

The Asia-Pacific region, including India, is poised to represent 18.36% of the global market, with India's robotics market alone expected to reach USD 7.77 billion by 2027. This growth is fueled by rising demand in defense, manufacturing, and hazardous industrial applications, underscoring the immense potential for innovation in the sector.

Also read: Mukesh Ambani & other top leaders mourn the loss of Ratan Tata (startuppedia.in)