HYDERABAD: Hyderabad based early-stage startup, Startoon Labs has become the first startup incubated at the WE Hub, incubator of Telangana government for women entrepreneurs, to raise first round of equity funding.
The startup is into product development, designing and developing industrial-grade IoT products and smart electronics systems from the fields of embedded systems and robotics.The money raised through equity funding will be used by Startoon Labs to build their product - Pheezee, a smart physiotherapy toolkit. The device is designed to monitor and report on patient rehabilitation and recovery by tracking their mobility and muscle strength.
The startup is led by Mythreyi Kondapi alumnus of IIM Ahmedabad and her husband Susurla VS Suresh, alumnus of IIM Kolkata, was established in November 2017. Kondapi is part of the first cohort of 26 women-led startups selected for incubation at WE Hub.
“My team and I are really excited that a hardware product company from Hyderabad is the first of the WE Hub startups to raise equity funding. We are working towards building on Startoon Labs’ momentum by creating a robust, outcome-oriented roadmap for growth”, said Deepthi Ravula, CEO of WE Hub.