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Arcatron Mobility, a fast-growing consumer medical company, has raised growth capital from OrbiMed, a global healthcare-focused investment firm. Existing investors BL Taparia Family Office, Chona Family Office, MGA Ventures and founders of Arcatron also participated in the funding round.

The funds will be utilised to ramp up R&D efforts, develop new products and enhance branding and marketing.

Pune-based Arcatron, under its flagship brand ‘Frido’, offers mobility assist devices like wheelchairs for patients with limited mobility, orthopaedic insoles and ergonomic cushions for pain relief and comfort enhancement. The company offers its products across all leading ecommerce platforms, its own website and through more than 1,000 stores across the country.

Arcatron’s founders Ganesh Sonawane and Arif Khan, view this investment as a catalyst for expanding product development and reaching more customers apart from the potential opportunities that this partnership with OrbiMed opens up.

“We are very impressed with the team’s expertise in product development and marketing, and are excited to partner with Arcatron in building a leading consumer medical company,” said Dr. Sunny Sharma, Partner and Senior Managing Director, OrbiMed Asia and who along with Sumona Chakraborty of OrbiMed will be joining the board of Arcatron.

OrbiMed (OrbiMed Advisors) is an investment firm based in New York City, United States. It is focused on making public and private investments in the healthcare and biotechnology industries.

OrbiMed is considered to be one of the largest dedicated healthcare investment firms in the world, with total assets under management (AUM) of $21 billion. Incidentally, the PE firm had recently raised around $4.3 billion to invest in healthcare start-ups in the Asian continent.

The fund’s India portfolio includes, Asian Institute of Medical Sciences (AIMS), Marksans Pharma, LifeCell, Kapiva, Bharat Serum, tertiary hospital chain KIMS, and clinical research organisation Ecron Acunova amongst several others.

Most of Orbimed’s deals are in the range of $15 million to $35 million.