The Open Innovation Promotion Investment Limited Partnership No. 1, operated by University of Tokyo Collaborative Platform Development Co., Ltd., has decided to invest 150 million yen in Instarim Inc., a company that provides prosthetic manufacturing solutions using 3D printing and AI technology in Japan, India, and the Philippines.
This investment in InstaLim is a joint investment with JIC Venture Growth Investments Co., Ltd., Mizuho Capital Co., Ltd., IT-Farm Inc., Mirai Sozo Capital Co., Ltd., Shinkin Capital Co., Ltd., Liveright Partners Inc., Darwin Ventures, and KVIF-I Investment Limited Partnership.
40 million people worldwide waiting to purchase prosthetic limbs; number of diabetes patients increasing mainly in developing countries
It is said that more than 80% of lower limb amputations are caused by vascular diseases such as diabetic gangrene. In addition, because diabetes progresses without symptoms, especially in developing countries where regular health checkups are not available, it is not uncommon for patients to “unnoticed their legs have developed gangrene,” making lower limb amputations unavoidable.
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The number of diabetes patients is expected to reach 780 million by 2045, with more than 90% of these patients said to be in emerging and developing countries. Meanwhile, there continues to be a global shortage of insulin, which is a used drug, and a fundamental solution to the social problem related to this rapid increase in diabetes has yet to be found.
In addition, prosthetic limbs required after lower limb amputation generally need to be handcrafted to fit each individual’s body in a medically optimal shape, so the medical knowledge and technical skills of a prosthetist are required. Therefore, in developing countries or lower, where the public welfare budget for training prosthetists is insufficient, a sufficient number of prosthetic limbs cannot be provided due to a shortage of prosthetists.
There are over 40 million people in the world, mainly in developing countries, who cannot purchase a prosthetic limb. This creates secondary social issues, such as the difficulty people who cannot afford a prosthetic limb have in finding employment.
Transform prosthetic manufacturing to increase the number of prosthetic limbs produced per prosthetist by more than 10 times
To solve this social issue, InstaLim has succeeded in increasing the number of prosthetic limbs produced per prosthetist by more than 10 times by combining 3D printing technology and AI design optimization, instead of analog (handmade) prosthetic manufacturing. The company aims to realize its vision of “creating a world where everyone who needs it can have access to high-quality prosthetics and orthotics.”
The company has already manufactured and sold over 5,000 prosthetic limbs in the Philippines and India, and their prosthetic solutions have been introduced to nine organizations, including public institutions in various countries.
Additionally, the Indian subsidiary has a 3D printer manufacturing plant and a 3D printer material (filament) manufacturing plant, and is promoting its licensing business in countries around the world from India.
The University of Tokyo IPC selected InstaLym for the University of Tokyo IPC Entrepreneurship Support Program, the predecessor to the second “1st Round.” We highly evaluated the company’s business development, which promotes open innovation while utilizing academic achievements, and tackles the socially significant prosthetic issues mainly in emerging countries, and have decided to invest in the company. Going forward, we will support InstaLym to accelerate simultaneous expansion into Indonesia and beyond Asia to Ukraine and Nigeria.
SOURCE: PRTimes
