These illustrious startups won the NASSCOM EMERGE 50 Awards at the NPC,2017. We are bringing you the ones that made it to the League of 10.
Product Name: BalanceEye
Name of Organization: Cyclops MedTech
Year of Incorporation: 2015
Vertical/Horizontal Play: MedTech/Healthtech
At the helm: Niranjan Subbarao, Dr. Srinivas Dorasala, Dr. Ravi Nayar
“NASSCOM has been phenomenally helpful in our journey. We were part of the 10,000 Start-ups program and multiple other NASSCOM initiatives that have got us visibility, industry and investor attention”.
--Niranjan Subbarao, Co-Founder, Cyclops MedTech
Innovation: Cyclops MedTech, a medical technology start-up, works on vestibular, surgical and eye tracking solutions for the masses. The company was conceived with the idea of developing an innovative Vertigo diagnosing device that was affordable and democratized the way the disease was Vertigo was identified, treated and reached the maximum number of people.
About the product: The company’s cutting-edge, complete balance assessment platform Cyclops BalanceEye is an assessment tool that encompasses hardware, software, and Machine Learning module on the Cloud. The device comes backed with the experience of clinicians (vertigo specialists) and engineers specializing in computer vision, image processing and embedded system design.
Journey so far: The journey began for the company in 2012, when one of its co-Founders purchased a Vertigo diagnostic device from a French company. Six months down the line it stopped working and there was no support available for the device. The choice was then to buy another competing device at Rs. 15 lakhs, or develop one locally. The company felt it could add more value to what was already available to many doctors. It used its clinical expertise and in-house engine to build the product. Initially, the company faced challenges in the areas of hardware design and development, testing, funding and building infrastructure.
Way forward: Today, Cyclops has 50 installations of BalanceEye and its turnover is reaching the one crore rupees mark. The company is looking to close the year with 125 installations and a top line of Rs. 3.5 crore. Going forward, it will be focused on scaling up in India, the ASEAN countries, the Middle East and in Africa.