z21 Ventures is pleased to announce our investment in earKART serving the vast patient population in India struggling with hearing loss. This issue affects nearly 98.5 million people across the nation, with an alarming statistic that over 60% of them lack access to essential audiological services. earKART has set out to change this narrative by offering cutting-edge hearing aids at affordable prices, ensuring that quality hearing care is accessible to all.
earKART has built a unique approach to audiology, exemplified by its smart diagnosis and remote management services. By leveraging technology, patients can now enjoy the latest audiological advancements from the comfort of their homes, thus redefining the landscape of hearing care in India. The audiology market has exhibited consistent growth, averaging between 7-8% per year. With earKART’s unique model, they can bring an additional growth of 5-7% within just three years, further fueling the expansion of audiological services in India.
The company has recently applied for a patent that merges medical device diagnostics with remote computing, setting the stage for the world’s first remote diagnosis and remote programming audiology model. This innovation holds the potential to revolutionize the industry and provide patients with a more convenient and efficient hearing care experience. In addition to its successful online platform, earKART also boasts India’s largest all-brand hearing clinic network, comprising over 1,250 clinics. earKART is gearing up to launch feature-rich, affordable hearing aids by the end of 2023 and has initiated the manufacture of economy-model hearing aids within India. Moreover, they are preparing to implement their remote audiometry and remote-hearing aid programming model through 1,500 ENT doctors and optical clinics, further enhancing their reach and impact in the field of audiology.
At z21 Ventures, we are excited to partner with earKART who are not only reshaping the audiological landscape in India but also promising a brighter future for countless individuals in need of hearing support.