Thursday, 29 September 2022

#startupoftheday 169- Absstem Technologies

27 July 2022 | Features

Building sustainable technologies

Inception- 2017

Location- New Delhi

Domain- Healthcare

Founders- Pradeep Sati and Mohit Sharma

Total team strength- 120

Total funds raised- Bootstrapped

Investors- NA

Revenue generated since inception- Rs 55 Cr for FY 21

 

Key Highlights-

  • Manufactures medical oxygen generators, industrial oxygen generators, and nitrogen generators
  • With over 200 installations throughout 25 states and four union territories in India, it has been recognized by the Department for Promotion of Industry and Internal Trade (DPIIT), Government of India, as part of the Startup India campaign
  • Served over 180 hospitals and clinics in just five years
  • The business has received CE, FDA, MSME, DIPP, and CII recognition, as well as ISO 9001, 13485, 14001, and 45001 certifications
  • Launched its new division, Absstem Industrial Solutions Pvt Ltd, that is purely dedicated to the industrial application of oxygen and nitrogen
  • Invested Rs 3 crore in the new business, which would create more than 300 jobs over the next three years

 

Founder speaks-

"The biggest challenge in an organisation is to build the four pillars that form its foundation: people, finance, resources, and operations. Once this is done, we get a bird’s eye view of what is actually happening. Initially, the primary objective was to obviously break even. Making sure our revenues met our expenses was quite a challenge during the early days. Fast forward to today, our challenge is to set our footprints into new soils (expansion to both – national as well as international).

Being the foremost company to partner with the government in that area of healthcare, we see a real rise taking place soon. There are many government policies currently sparking growth in the healthcare industry. Thanks to the ‘Make-in-India’ efforts which is all the more supportive for those of us in the industry. These, along with other efforts, have led to increased attention and activities by other major healthcare equipment players in India – and that is very motivating. Of course, the journey is never fruitful without the indisputable existence of struggles – and we must say, this has been exhilarating."

- Mohit Sharma, Designated Partner and Director, Absstem Technologies LLP, New Delhi

 

 

Comments

× Your session has been expired. Please click here to Sign-in or Sign-up
   New User? Create Account