Assisted living space startup Arcatron Mobility has secured an undisclosed sum in growth financing through fintech platform Klub.
Speaking on the investment, Ganesh Sonawane, Co-founder and CEO of Arcatron Mobility, commented, “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.”
He further said, “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.”
Anurakt Jain, CEO and Co-founder – Klub, added, “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.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.