Existing investors BL Taparia Family Office, Chona Family Office, MGA Ventures and founders of Arcatron also participated in the round. The funds will be utilized to ramp up R&D efforts, develop new products and enhance branding and marketing. Most of Orbimed’s deals are in the range of $15 million to $35 million
“This investment is a catalyst for expanding product development and reaching more customers. We are excited about the opportunities that this partnership with OrbiMed opens up,” said Arcatron’s co-founder Ganesh Sonawane.
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, its own website and over 1,000 stores across the country.
Sunny Sharma and Sumona Chakraborty of OrbiMed are joining the board of Arcatron. “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,” Sunny Sharma, partner and senior managing director OrbiMed Asia, said.
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, Marksans Pharma, LifeCell, Kapiva, Bharat Serum, tertiary hospital chain KIMS, and clinical research organization Ecron Acunova among several others.
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