[Funding alert] Assisted living space startup Arcatron Mobility raises growth financing through Klub
Pune based assisted living startup Arcatron Mobility, that manufactures next-generation mobility devices, has raised an undisclosed amount in growth financing through revenue based financing platform, Klub.
According to an official statement, the startup will use the capital raised through Klub to ramp up inventory/production, and has grown at a monthly CMGR of 100 percent.
Founded in 2015, Arcatron is a medical device startup focused on designing and selling innovative products to enhance the lives of people with limited mobility.
Speaking on the capital raise, Ganesh Sonawane, Co-founder and CEO, Arcatron Mobility, said,
“We started Arcatron to build world-class mobility devices and offer assistive, adaptive, and rehabilitative devices for people with limited mobility. Arcatron has grown year on year at ~250 percent, and in Klub we have found the perfect growth partner."
"We are seeing a constant uptick in demand and with Klub capital, we aim to build inventory and ramp up production. For niche brands like us, Klub is an ideal investment platform offering flexible, non-dilutive growth capital,” he added.
Last year, Arcatron launched a premium range of customised COVID-19 products to protect its customers. The success of this new line has wholly revolutionised the trajectory of the company. With Klub’s investment, Arcatron Mobility intends to build up inventory to match the increasing demand for these products.
Arcatron Mobility products
With a wide range of mobility aids that include wheelchairs and wheelchair accessories, toilet and bathroom aids, sleeping aids etc., the brand has proven instrumental in enhancing the lives of people with limited mobility and elderly care needs.
Commenting on this Anurakt Jain, CEO and Co-founder, Klub said,
“Arcatron’s simple design thinking approach and range of mobility products has propelled the demand for its products. Klub’s revenue-based financing will help Arcatron scale up operations and build inventory for solving the unmet needs of focus segments. We aim to back challenger brands that have strong fundamentals, great products and the potential to scale rapidly.”
In the last year alone, Klub has deployed capital to more than 80 brands across the country including leading consumer brands and marketplace sellers like Wellbeing Nutrition Tjori, The Man Company, Magic Crate, Stage3, Pipa Bella and many more. With the season sales approaching, Klub aims to support over 350 brands by providing capital for ramping up inventory and marketing.