Hyderabad lads figure in Forbes 30 under 30 list
The company, Makers Hive Innovations is into making bionic arms.
Hyderabad: City-based Pranav Vempati, Chief Executive Officer, Makers Hive Innovations, figured in the Forbes 30 Under 30 Asia list. His company is into making bionic arms. It has been on it for more than three years and it was launched last December. It already has an order book for several tens of bionic arms, which the company aims to deliver in the months to come.
“The listing in Forbes is a recognition of the teamwork happening in the realm of bionic arms. Our arms are priced low compared to similar ones being made available overseas,” said Pranav. The company has two more co-founders- Harsha and Suren.
It is now facing a shortage of a few components due to the Covid. “We are hoping that situation will ease in a couple of months and then we will be able to deliver on the pending orders,” he said adding that it is also looking to tap various companies for their CSR funds in making the bionic arms available to more people at a lesser cost.
The price of each arm is around Rs 3.5 lakh. “There are a lot of people who have lost their arms. Due to that, they are being rendered jobless. There is a huge social cost associated with that. Now, we are also looking to partner with some corporates and explore the possibilities of finding jobs for people with bionic or artificial arms,” he said.
The artificial arm can exhibit more than 15 grips with different torque levels that will help people deal with their daily chores. The arm tracks electrical impulses released in the body while attempting to work with hands. As per the 2011 census, there are 5.4 million people who are movement-impaired.
Of this, a significant number of people had suffered accidents below the elbow. Based on the severity of amputation, a 3D scan of the hand is taken to come up with a customized design. There will be a provision to replace worn-out mechanical parts.
It has plans to partner with hospitals, NGOs, and government bodies apart from direct sales.
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