Introduction
Founded in 2016 and based in Bengaluru, Innaumation Medical Devices Private Limited is a pioneering health-tech startup specializing in voice prosthesis in India. Focused on helping throat cancer survivors regain their speech post-laryngectomy, the company offers a cost-effective and easy-to-implant solution through its flagship product, the Aum Voice Prosthesis.
Business Model
1. Voice Restoration Devices
Innaumation’s Aum Voice Prosthesis is a groundbreaking device that allows post-laryngectomy patients to speak again. The prosthesis uses esophageal vibrations to generate sound, is simple to implant, and requires minimal maintenance. Priced at just ₹6,800, it is far more affordable than imported alternatives costing between ₹30,000 and ₹60,000. This innovation strengthens Innaumation’s leadership in voice prosthesis in India.
2. Institutional Partnerships
Innaumation works closely with hospitals, rehabilitation centers, NGOs, and government bodies. Through partnerships with health departments and inclusion in state-run programs, the company ensures broader access to its voice restoration devices.
3. Research & Development
Innaumation’s R&D wing is focused on creating an extended range of assistive technologies:
- AI-powered speech therapy tools
- Breathing assistance products (e.g., tracheostomy tubes)
- Patient outcome tracking systems
These developments support the mission of advancing voice prosthesis in India through innovation.
Revenue Streams
The company monetizes through:
- Direct sales of the Aum prosthesis to hospitals and clinics
- Consulting for post-laryngectomy speech therapy
- Grants and non-dilutive funding from innovation hubs like IKP EDEN, C-CAMP, and AssisTech Foundation
Key Financial Metrics (as of March 31, 2022)
| Metric | Value |
|---|---|
| Revenue | ₹8.96 Lakhs |
| Gross Margin | 38.2% |
| Operating Margin | 22.5% |
| Net Margin | 14.7% |
| Estimated Valuation | ₹45 Crores |
The company maintains strong profitability due to low-cost production and direct institutional sales.
Economies of Scale
- Bulk manufacturing lowers per-unit costs.
- Standardized surgical procedures reduce training needs.
- Institutional tie-ups cut down on customer acquisition costs.
- Planned AI tools will further reduce operational overhead.
Customer Acquisition & Competitive Edge
Acquisition Channels
- Partnerships with hospitals and rehab centers
- Government and CSR program integrations
- Word-of-mouth via ENT doctors, oncologists, and therapists
- Inclusion in state-run cancer treatment initiatives and Ayushman Bharat panels
- Participation in medical device exhibitions and healthcare innovation forums
Retention Strategies
- Continuous product improvements and design upgrades for better comfort and durability
- Community building through NGOs and patient networks
- Collaborative clinical research with academic hospitals to co-develop next-gen solutions
- Offering speech therapy support tools and digital follow-ups for enhanced recovery outcomes
Key Competitive Advantages
- Backed by IKP EDEN, C-CAMP, and ATF, reinforcing trust and innovation credibility
- First Indian firm offering affordable voice prosthesis in India
- End-to-end solution: prosthesis, therapy, and follow-up tools
- Affordable pricing: ₹6,800 vs. ₹30,000–₹60,000 (imported alternatives)
- Global potential across LMICs (Low- and Middle-Income Countries)
- Direct-to-institution model ensures low distribution cost and consistent doctor adoption
Equity Structure
| Stakeholder | Ownership % |
| Shashank Mahesh (CEO) | 45% |
| Madhukar S.M. (Co-Founder) | 20% |
| IKP EDEN, C-CAMP (Investors) | 25% |
| ESOP Pool | 10% |
Founders retain control, with room for strategic talent onboarding.
Future Roadmap
- Global Expansion: Southeast Asia, Africa, Latin America via distributors
- Product Innovation: AI-based adaptive speech therapy tools
- Public Programs: Tie-ups with Ayushman Bharat and state-run insurance schemes
- Clinical Research: Collaborations with hospitals for evidence-based validation
The company targets ₹25 Cr revenue by FY 2027 and plans to enter new verticals in assistive medical technology. With this goal, it continues to champion the development of voice prosthesis in India.
Founders
Shashank Mahesh (Founder & CEO)
- Background: Biomedical engineering
- Role: Product development, fundraising, partnerships
- Vision: Make voice restoration accessible and affordable for all
Vishwas Uchila Shishir (Co-Founder)
- Background: Medical science and speech therapy
- Role: Clinical testing, patient rehab, NGO partnerships
- Impact: Ensures usability and recovery success of prosthesis
Contact Information
- Website: innaumation.com
- Email: contact@innaumation.com
- Headquarters: Bengaluru, Karnataka, India
- LinkedIn: Innaumation Medical Devices
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