startup business

IIT Madras incubated start up raises dollar 3 Million to launch wearable Covid19 tracker

Indian Technology Startup, Muse Wearables, has raised funds to the tune of $3 Million US dollars (approx Rs. 22 crore) which will enable them to launch a new wearable tracker by August this year. What’s special about this tracker? Well, this is a wearable tracker that has the potential to detect Covid-19 symptoms before they appear.

The round of funding has come from their existing and new investors which have helped them to increase production cycles, scale up sales. They target 200,000 in product sales this year and aim at 10,00,000 product sales globally by 2022.

Read also: IIT-Madras begins admissions for NPTEL courses 

“We are excited to be part of the next phase of Muse Wearables. As an IIT-Madras incubated start-up, Muse Wearables and its young founders’ vision completely aligns with ours. We are happy and proud to see the breakthroughs they have achieved in the wearables segment. Muse wearables are bound to achieve phenomenal growth by leveraging their strong innovative culture, agile execution capabilities, and global relationships”, said Bhaskar Rao Bollineni, Managing Director, KIMS Hospitals, an investor in Muse Wearables.

Previous projects done by IIT-Madras incubated start-up

Previously, Muse Wearables had raised Rs. 6.85 crore from Keiretsu Forum, Lead Angels and even noted film director SS Rajamouli between 2017-19.

Background about IIT-Madras incubated start-up

This IIT Madras incubated startup was founded by K.L.N Sai Prasanth and Yathindra Ajay K.A, graduates of IIT Madras, and K. Prathyusha, an NIT Warangal Graduate. It currently caters to nearly 70 countries and has launched the world’s first payments hybrid smartwatch.

Courtesy: India Today

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