# GyroGear

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/gyrogear

- Industry: Medical Devices & Equipment
- Headquarters: UK
- Website: www.gyrogear.co
- Total disclosed funding: $3.9M
- Latest round: Seed (Feb 25, 2021)
- Investors on record: 2

## About

GyroGear Limited develops assistive technologies focused on enhancing the quality of life for individuals with hand tremors, using advanced gyroscopic stabilization in their flagship product, the GyroGlove™.Founded in 2015 in the UK, GyroGear Limited specializes in assistive technology, particularly the GyroGlove™, which aims to counteract hand tremors. The company has undergone no significant pivots in its strategy since its inception. Joon Faii Ong co-founded the company, and he also currently serves as the CEO. GyroGear has raised a total of USD 3.90 mn across four deals, with its most recent funding round being a Seed round in February 2021, led by Foxconn Technology Group along with other investors including Fidelium Partners. Its current valuation stands at USD 24.53 mn.GyroGear™ specializes in innovative assistive technology, primarily focusing on their flagship product, the GyroGlove™, which is designed to counteract hand tremors through advanced gyroscopic stabilization. The GyroGlove™ utilizes an intricate system of sensors and motors to detect and counteract tremors, providing users with enhanced control and stability in their daily activities. Targeting individuals suffering from conditions such as Essential Tremor and Parkinson’s disease, the glove is engineered to empower users by restoring independence in tasks such as writing, eating, and other fine motor skills. The product is crafted from breathable, biocompatible materials and offers features such as a washable harness and IP65 waterproof protection, making it suitable for a variety of environments. GyroGear™ markets its products primarily in North America and Europe, emphasizing a user-friendly interface and comfort to attract and retain a diverse client base that includes healthcare providers, rehabilitation centers, and directly affected individuals.GyroGear™ generates revenue through direct-to-consumer sales of its GyroGlove™ and associated accessories, alongside potential partnerships with healthcare institutions and rehabilitation centers. The company's transaction structure is primarily B2C, allowing customers to purchase the GyroGlove™ directly from the company’s website or through authorized retailers. Revenue is supplemented by the sale of accessories and replacement parts, enhancing the user experience and ensuring longevity of the primary product. The company’s customer base consists of end-users who seek reliable solutions for managing their tremors, creating a steady demand for their flagship product.Following the recent Seed funding round in February 2021, GyroGear Limited plans to utilize the raised USD 3.90 mn to support clinical trials, regulatory approval, and further research and development. The company is focused on launching new products designed to enhance its existing offerings, with plans to expand into new markets, particularly in Europe and North America, by 2023.

## Funding rounds

- Seed, Feb 25, 2021, $3.9M — Foxconn Technology Group, Fidelium Partners

## Investors

- Foxconn Technology Group — Seed
- Fidelium Partners (https://capitalatlas.ai/funds/fidelium-partners) — Seed