15/09/2020
Fields: Medical Devices
Company Overview and Technology :
The company offers next-generation stand-up wheelchair technology with a unique gyro-based, auto-balancing system that, when in standing position, keeps users vertical to earth at all times. Together with safety algorithms that help prevent falls in hazardous situations, these features enable users to be more mobile, in standing position, outdoors and indoors, and thus improve their physical and mental health and reduce the cost of disability.
The technology is based on 3 patents and proprietary know-how. The novelty is three folds: maintains the same center of gravity in both sitting and standing position, making it harder to fall when standing up. Second, the user stands on an active stabilized platform, which automatically maintains the user vertical to earth. Finally, in emergencies the UPnRIDE is able to identify when someone is likely to tip over, and activates safety measures.
The company targets to a $6B market and aims to change the life of millions of wheelchair users.
Revenues : US$30,000
Stage : Round A
Investment record: US$6.08M(OurCrowd, Angels, Founders)
How much money would you like to raise : US$5M
Clients / Achievements / Strategic Partners:
The company is FDA (US), CE (EU) and AMAR (Israel) cleared.
The company is based on 3 granted patents and a pending one and on a proprietary know-how.
The US Veteran Administration (VA) purchased units for evaluation and study at their hospital in New York.
Recruitment of distributors in North America and the EU is in process.
VA approved vendor is assigned, Distribution agreements for the UK and Israel are signed,
First customers in Israel are in place.
Year of establishment : 2013
How many employees : 8