earKart raises pre-Series A funding to expand smart diagnosis and remote management of hearing aids
- ByStartupStory | May 12, 2023
earKart, an Indian healthcare technology company that specializes in providing smart diagnosis and remote management of hearing aids, has raised an undisclosed amount of pre-Series A funding. The round was led by Agility Ventures and included participation from other investors such as Blume Ventures. With this funding, earKart has raised a total of Rs 7.6 crore so far. The startup’s first lead angel investor is Ashneer Grover.
Rohit Misra, Founder of earKart, expressed his excitement about the latest round of funding, saying, “We are excited to have Agility Ventures and other investors on board with us. Their support will help us expand our reach and make our services available to more patients who need them. We aim to use the funding to build our technology infrastructure and expand our team to serve our growing customer base.”
Founded in 2021 by Rohit Misra and Priyadarshi Jha, earKart aims to provide access to the latest technology hearing aids at an affordable price to cater to the estimated 98.5 million people in India suffering from hearing loss. Over 60% of these individuals do not have access to audiological services, making it difficult for them to receive necessary help. The Noida-based startup bridges this gap by offering smart diagnosis and remote management of hearing aids, which allows patients to access the latest technology and services from the comfort of their own homes.
Dhianu Das, co-founder of Agility Ventures, shared his thoughts on the investment, saying, “earKart has already established a profitable business in the rapidly growing audiology industry. The audiology market has been experiencing consistent growth of 7-8% per year, and with earKart’s innovative model, we believe that we can bring an additional growth of 5-7% within just three years.”
earKart’s groundbreaking approach to audiology sets it apart from its competitors. The company has applied for a patent for merging medical device diagnostics with remote computing, which will allow for the world’s first remote diagnosis and remote programming audiology model. This innovation has the potential to revolutionize the industry and provide customers with a more convenient and efficient experience.
earKART has India’s largest all-brand hearing clinic network of more than 1250 clinics and has supplied more than 100K hearing aids in the last fiscal year. The startup intends to launch its low-priced, feature-rich hearing aids at the end of May and has started manufacturing economy model hearing aids in India. It plans to use its unique technology model of remote-audiometry and remote-hearing aid programming through 1500 ENT doctors.
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