Leaf Wearables, a tech startup that makes smart jewellery products for women safety, has raised $250,000 (Rs. 1.6 crore) from a group of angel investors.
Founded by students from IIT-Delhi and Delhi Technological University, Leaf Wearables will use the funds to expand its product offering of smart safety wearable devices.
Ajeet Khurana, a member of Mumbai Angels, Jinesh Shah, founding partner at Omnivore Ventures and Vikram Chachra, co-founder of Eight Capital participated in this funding round. Dr. Aniruddha Malpani, director at Solidarity Investment Advisors and Vijay Talreja co-founder at tech firm Adapty are other investors.
"We hope to reach to the masses and contribute towards the safety of women with 'Safer',” Manik Mehta, co-founder of Leaf Wearables said in a statement. "It has been developed to let women feel safer every time with a practical solution at an affordable cost.”
Their product, now known as 'Safer', is a smart safety device, which can be used to trigger alarm and send signals to pre-identified phone numbers in case of emergency. The device can be used as a necklace and is available in different colours.
Leaf Wearables developed the smart safety device under project ‘Guardian’ which won an Ericsson innovation award this year. This resulted into a full-fledged product and led to the launch of the firm in February by Mr. Mehta and students — Avinash Bansal, Ayush Banka, Chiraag Kapil and Paras Batra.
One of its applications enables users to enter their start point and destination, in case they feel the route is unsafe. The location of the device can be tracked real-time.
Leaf Wearables was chosen amongst the top 10 innovative startups in India by Department of Science and Technology. These firms accompanied Prime Minister Narendra Modi on his visit to the Silicon Valley and participated in the first India-U.S. Startup Konnect in September.