The robotic prosthetics company Vulcan Augmetics, located in Vietnam, revealed recently that it had received an initial investment from Quest Ventures, a venture capital business headquartered in Singapore.
In an announcement, Vulcan Augmetics said that the company intends to expand its focus beyond prosthetics to include the whole range of wearable technology, from augmented reality (AR) and virtual reality (VR) management systems to diagnostics and health gadgets like Fitbit.
Rafael Masters, Co-Founder and CEO of Vulcan Augmetics, said that the company’s team is excited to have received funding from Quest Ventures. He elaborated further, stating that, together with raiSE, they displayed compassion and empathy for the issue that his team is solving and a drive concerning the way its technology can grow.
Masters claims that they were crucial in getting early pilot projects. He said that the company is certain that from this beginning point, Vulcan Augmetics will grow into a worldwide authority in studying, harnessing, and augmenting the anatomy of humans. Vietnam has both the cost basis for manufacturing and the technical ability to develop world-beating machine learning software, he added. The need to make assistive technologies more accessible will affect 2 billion people by 2030. This is a significant chance for the company to fully embrace what is possible for the handicapped population.
Developing biometric sensors and programmable modular robotic prostheses, Vulcan Augmetics uses its own machine learning engine. Over 500,000 amputees live in Vietnam, out of an estimated 57 million worldwide, the statement claims.
The prevalence of unexploded ordnance, chronic illnesses, landmines left over from previous conflicts, and industrial accidents all contribute to the yearly influx of thousands of new recruits into the ranks, both in Vietnam and elsewhere on the globe.
According to the statement, Vulcan Augmetics’ goal is to provide high-performance, low-cost sensor technology that digitises the prostheses manufacturing process and makes it available to underserved amputees in developing countries, allowing them to find jobs and reclaim their independence.
According to James Tan, Managing Partner at Quest Ventures, the company is about to delve into deep technology that is scalable and has high potential for tackling issues that matter. He emphasised that Vulcan Augmetics shows an ideal instance of solving the most vital issues with the help of technology and finances.
Tan said that users are specifically worried regarding the standard of care to be given to elderly people. He stated that highly capable and cost-effective robotic prosthetics can enhance freedom and quality of life and reduce the demands on society and caregivers.
