Aether Biomedical Sp. z o.o, which operates a medical robotics company that develops rehabilitation-focused devices, has raised funding as part of its seed round from investors including Chiratae Ventures.
Other participants in the funding round in Poland-based Aether include Joyance Partners and Sunfish Partners, Chiratae said in a statement.
The firm has invested in the startup through its DeepTech Innovators Program.
This programme is focused on solving real-world problems through deep-technology.
More than 250 companies participated in its latest cohort, including ones operating in sectors such as mobility, robotics, energy, aerospace and biotechnology.
Chiratae did not disclose the amount invested in Aether, which operates in India through Aether Biomedical Pvt. Ltd.
The company was set up in 2017 by Dhruv Agrawal and Faith Jiwakhan. Its devices are based on biosignal processing and the firm says it aims to make bionics accessible to the masses.
Its first product is Zeus, a low-cost bionic limb that has been developed using a combination of processing, machine learning and additive manufacturing.
According to VCCEdge, the data research arm of Mosaic Digital, Aether previously raised funding from a clutch of angel investors in 2018.
The company will use the funding from this seed round to enhance its research and development efforts for building its next generation of bionic products and accessories such as prosthetic wrists and elbows.
“As a company, we’re deeply committed to pushing the boundaries to create solutions that enable fulfilling lives for millions of people across the globe,” Agrawal said.
Chiratae founder and chairman Sudhir Sethi said the investment was part of the firm’s strategy of investing in companies using deep-tech to shape scalable solutions across verticals.
Formerly known as IDG Ventures India, Chiratae invests in companies across their seed, early- and expansion stages.
Funds operated by it currently have over $700 million under management, with investments in more than 80 companies in sectors such as health-technology, fin-tech, and consumer media.
Some of its portfolio companies include Bounce, Curefit, FirstCry, Forus, Lenskart, Manthan, Myntra and Flipkart.
Last month, Chiratae was among those investors that committed a little over Rs 6 crore (around $803,146) to CreditMantri Finserve Pvt Ltd, an online credit management startup.
Also last month, it took part in a Rs 24.5 crore (around $3.23 million) funding exercise in online rental marketplace Rentomojo. The startup’s valuation has touched nearly $100 million following the investment.
In April, VCCircle reported that Chiratae had invested in a travel-technology startup. Other companies that the firm has bet on in the space include Yatra and Tripoto.
