Hearing Aid Tech Startup earKart Raises Fresh Funding
earKart, a hearing aid technology firm, has raised an undisclosed amount in a funding round led by Agility Ventures. Several investors, including Blume Ventures, also participated in the funding round.
Ashneer Grover (former CEO of BhartPe) is the first lead angel investor in the hearing aid technology firm.
earKart | Hearing Aid Tech Startup
Founded in 2021 by Rohit Misra and Priyadarshi Jha, earKart is a Noida-based startup that caters to the patient population suffering from hearing loss, which is estimated to be around 98.5 million people in India.
Over 60 per cent of these people do not have access to audiological services, making it difficult for them to get the necessary help they need. The Noida-based startup claims to be the first-of-its-kind online platform that enables all hearing aid dispensers and patients to have access to all varieties of products from global manufacturers with guaranteed transparency, fairness on price, and quality.
Speaking about the development, Rohit Misra, Founder of earKart, said,
“We are excited to have Agility Ventures and other investors on board with us. Their support will help us expand our reach and make our services available to more patients who need them. We aim to use the funding to build our technology infrastructure and expand our team to serve our growing customer base.”
earKart aims to bridge this gap by providing access to the latest technology hearing aids at an economical price. The startup’s smart diagnosis and remote management of hearing aids ensure that patients have access to the latest technology and services from the comfort of their homes.
Commenting on the development, Dhianu Das, Co-founder of Agility Ventures, said,
“earKart has already established a profitable business in the rapidly growing audiology industry. The audiology market has been experiencing consistent growth of 7-8% per year, and with earKart’s innovative model, we believe that we can bring an additional growth of 5-7% within just three years.”
The Noida-based startup has the largest all-brand hearing clinic network in India, with over 1250 facilities. It claims to have started manufacturing economy-model hearing aids in India. Additionally, the startup is all set to use its most unique technology model of remote audiometry and remote-hearing aid programming through 1500 ENT doctors.
Including this funding round, earKart has raised a total of Rs 7.6 crore so far.
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