# Steadiwear

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

- Industry: Medical Devices & Equipment
- Headquarters: Toronto, Canada
- Website: www.steadiwear.com
- Total disclosed funding: $0.9M
- Latest round: Seed (Jul 26, 2021)
- Investors on record: 5

## About

Steadiwear Inc. develops assistive devices aimed at alleviating hand tremors in individuals with conditions such as Essential Tremor and Parkinson's Disease, enhancing user independence and quality of life.Founded in 2015 and headquartered in Toronto, Canada, Steadiwear Inc. specializes in creating solutions for individuals with hand tremors. The company has expanded its operations through a focus on innovative products and has successfully raised CAD 1.1 million in SEED funding as of July 26, 2021. The funding was co-led by new investor 3W Partners, with participation from Centre for Aging + Brain Health Innovation, Ontario Brain Institute, and The Narwhal Project. The company was co-founded by Emile Maamary and Mark Elias, who serves as CEO.Steadiwear Inc. specializes in the development of assistive devices for individuals suffering from hand tremors, specifically targeting those diagnosed with Essential Tremor and Parkinson's Disease. Their core product, the Steadi-3 glove, is designed to provide immediate relief from hand tremors by offering real-time stabilization tailored to the user’s specific tremor level. The glove is lightweight, breathable, and battery-free, ensuring ease of use without the need for charging. This device is engineered for comfort and efficiency, allowing users to regain control over daily activities such as writing, drinking, and other fine motor tasks. The company has a robust customer base that includes over 3,000 users and primarily serves markets in the United States and Canada, focusing on individuals seeking improved independence and quality of life through innovative tremor management solutions.Steadiwear’s revenue model is structured around direct-to-consumer sales of its flagship product, the Steadi-3 glove, which is offered at a price point of CAD 599. Customers have the option to engage in a payment plan starting as low as CAD 55 per month, allowing for flexible financing solutions. The company also implements a 30-day risk-free trial to encourage consumer adoption and satisfaction, which enhances their sales strategy by reducing the perceived risk associated with new medical devices. Transactions involve direct purchases through the company's online platform, where customers can pre-order the device and receive regular updates on delivery timelines. This model aligns with Steadiwear’s commitment to providing reliable and timely solutions for tremor management, fostering a direct relationship with users while effectively addressing their needs.Steadiwear Inc. plans to leverage the recent SEED funding of CAD 1.1 million, raised in July 2021, to initiate the rollout of its upcoming product, the Steadi-Two, expected to launch in the next year. The company aims to expand its market reach beyond the United States and Canada, targeting new regions to increase its customer base. This strategic expansion is essential for enhancing their position in the assistive device market and will be supported by the latest funding.

## Funding rounds

- Seed, Jul 26, 2021, $0.9M — 3W Partners, Ontario Brain Institute, Narwhal Project, Centre for Aging + Brain Health Innovation
- Seed, Feb 17, 2016 — Ontario Centre of Innovation

## Investors

- Ontario Centre of Innovation (https://capitalatlas.ai/funds/ontario-centre-of-innovation) — Seed
- 3W Partners (https://capitalatlas.ai/funds/3w-partners) — Seed
- Ontario Brain Institute — Seed
- Narwhal Project — Seed
- Centre for Aging + Brain Health Innovation — Seed