Reserved Amount = € 0,00
Reserved Amount = € 0,00
Improved quality of life for people with reduced hand mobility: by returning hand mobility to its users, the glove allows them to perform tasks that would be difficult or impossible to perform in a comfortable way.
Inclusion of people with hand mobility problems: the glove has a significantly lower cost when compared to the existing systems on the market (25% of the price charged by SEM Glove and NASA/GM). By being more affordable, it is accessible to more people. On top of this, its aesthetics (beautiful and discrete) help avoid any potential discriminatory situations towards people with any hand disability. Without making marketing efforts, the company has 1050 reservations to purchase the glove.
Improved healthcare: the real-time data tracking that can be accessed and analyzed by the user or a healthcare professional, will improve the health care provided by allowing for a more customized and holistic treatment.
Nuada is a Portuguese tech startup that develops soft and intelligent exoskeletons. Their patented technology was first applied to the hand in order to create a system that looks like a normal glove, enabling its user to hold objects up to 40 kgs with their hand completely relaxed. The electronic glove is safe, light, and small and was designed to be affordable and non-intrusive. By using thin, breathable, flexible, and smart textiles that are customizable, it’s a unique enhancement technology developed to be an everyday essential wearable that people forget they are wearing.
The system was designed to have in mind people suffering from any kind of hand or wrist musculoskeletal disease and/or acute pain. These symptoms affect several millions of people in the world due to multiple causes such as aging, arthritis, strokes, occupational diseases, among others. From the company’s contacts with stakeholders, other markets have emerged: labor-intensive industries with the use being mostly related to occupational disease prevention or productivity enhancement; the sports sector, mainly to provide a tool for performance improvement and to minimize the risk of injuries; physiotherapists as a rehabilitation tool for people with disabilities.
After having successfully validated the idea, the company is now finalizing the marketing campaign to start the pre-sale phase. Currently, there are about 1050 people on the waiting list with no marketing effort.
The flagship product is composed of a glove, with bioinspired artificial tendons and multiple sensors, and a bracelet, comprising most of the electronics and connectivity. The proprietary software and sensor arrays provide automatic and intelligent interaction in order to achieve a seamless user experience. It also shares sensor data from the glove to a smartphone and a cloud-based server, which can then be accessed and analyzed by the user or a healthcare professional in a smartphone, PC, or tablet app in real-time or on-demand.
In parallel, the company is preparing for the industrialization phase.
The NUADA project was approved by the European Commission's most competitive grant - EIC Accelerator (SME Instrument Phase 2). With a total budget close to € 2.5m, this EU grant is € 1.7m in the open. The first payment of € 800,000 was made in 2019. The second payment in the amount of € 454,000 was made in December 2020, which was used to pay the first € 150,000 loan obtained through GoParity. The next payment of € 225,000 is scheduled for September 2021. This amount will be used to repay the loan to GoParity investors. Additionally, the company is also awaiting the final payment of a previous project financed by PT2020, in the amount of 300,000€, which will be paid by June 2021.
Several successful pilots and tests with established multinationals (in the automotive and hardware industry): from the more than 300 companies that asked for pilots, in January 2017 Nuada initiated pilots and on-site meetings with Volkswagen Group (Auto-Europa Portugal), Hilti (US and Portugal) and Comau (Italy). This allowed the company to create good traction, market validation, and the right awareness for their technology. In the near future, the company will add My Handspring (US Healthcare) to the list.
Collaboration with Portuguese doctors, namely Dr. Rui Santos, from the Hospital Center of Vila Nova de Gaia / Espinho, E.P.E., and his clinical staff.
Ready to approve exclusive distribution depending on annual minimum sales: secured Letters of Intent from distributors across Portugal, Angola, Mozambique, and the UAE. This model is easy to scale, leveraging on established sales channels; requires fewer resources (logistics and marketing) when compared to direct sales.
Payments Status: On time