New Delhi, Jun 24 (PTI) Chiratae Ventures on Wednesday said it has invested an undisclosed amount in Aether Biomedical, a medical robotics company focused on developing rehabilitation devices.

Other investors that participated in the round include Joyance partners and Sunfish partners, a statement said.

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The funding will primarily be used for the commercialisation of Aether Biomedical's Zeus V1 across India and Europe, it added.

Aether Biomedical also aims to continue its R&D efforts by building the next generation of the bionic limb and accessory products like prosthetic wrists and prosthetic elbows, the statement said.

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Aether, which is led by Dhruv Agrawal and Faith Jiwakhan, has developed a multi-action bionic limb Zeus. This is a low-cost high efficacy product aimed to create data-driven rehabilitation accessible and more robust.

There are reportedly more than 10 million amputees around the world and 80 per cent of them live in developing countries where the penetration of prosthesis is less than 10 per cent. A large number of amputees (who even have access to rehab solutions) either get dropped out of rehabilitation because of high costs, low efficacy products, and barriers to repeatability.

The global prosthetics and orthotics market size was estimated at USD 9.2 billion in 2019 and is expected to grow at a CAGR of 4.6 per cent till 2027.

**** ZestMoney sees surge in edutech loans, 30% increase in women applicants during lockdown

Financing platform ZestMoney on Wednesday said it has witnessed an increased interest in edutech loans on its platform amid the COVID-19 pandemic and lockdown.

The company said people with high CIBIL scores (650 and above) have started applying for EMI loans, signalling a demand even from premium customers.

Also, over 57 per cent of the applicants for upskilling programmes were from tier-3 markets, it said in a statement.

Cities like Wayanad, Vellore, Udaipur, Tawang, Uttarkashi witnessed an increase in applications, it added.

ZestMoney also noted a 30 per cent increase in loans applied for by women compared to pre-COVID numbers.

"People are opting to close loans faster, with preference for shorter loan tenures increasing by 120 per cent. Also, the average ticket size of the loans stands at Rs 50,000," it said.

The courses in demand included data science, machine learning, business intelligence, and robotics.

"Affordability now being a critical factor when it comes to credit, the demand for EMI financing options is at an all-time high. We foresee an increased adoption of digital financing in the coming months and the fintech industry will play a crucial role in reviving the economy by offering reliable and transparent access to credit," Lizzie Chapman, co-founder and CEO of ZestMoney, said.

**** Just Dial shareholders approve upto Rs 220 cr-buyback offer

Shareholders of Just Dial have approved the proposal to buyback shares worth upto Rs 220 crore.

In April, Just Dial's board of directors had approved buyback of up to 31,42,857 shares for up to Rs 220 crore on a proportionate basis through tender offer route at a maximum price of Rs 700 per share.

The special resolution was passed with 99.6 per cent votes in favour of the proposal, a regulatory filing showed.

About 99.4 per cent of public institution shareholders and 95.2 per cent of public non-institution shareholders voted in favour, while there was 100 per cent in favour from promoters, it added.

**** Navi Finserv launches app to provide instant personal loan

Navi Finserv, a non-banking financial company (NBFC), on Wednesday launched a lending app to provide instant personal loan to customers.

Navi Lending App will provide instant loan of up to Rs 5 lakh with tenures of up to 36 months, via a completely digital and contactless process for customers, a release said.

Founded by Sachin Bansal and Ankit Agarwal, the company is headquartered in Bengaluru.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)