About TorchIt
TorchIt is a company based in Ahmedabad (India) founded in 2016 by Hunny Bhagchandani and Jagdish Arjandas Bhagchandani.. TorchIt has raised $67.1 thousand across 2 funding rounds from investors including Sonal Chauhan and K-Startup Grand Challenge. TorchIt offers products and services including White Cane, Saarthi, Jyoti, and Saksharta Kit. TorchIt operates in a competitive market with competitors including Freedom Scientific, NuEyes, EnChroma, BindiMaps and iMerciv, among others.
- Headquarter Ahmedabad, India
- Founders Hunny Bhagchandani, Jagdish Arjandas Bhagchandani
- Stage Minicorn
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Sectors
Healthcare
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Phone
*********
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Website
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Social
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- Legal Name Torchit Electronics Private Limited
- Date of Incorporation 19 Aug, 2016
- Jurisdiction Ahmedabad, Gujarat, India
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Annual Revenue
$415.26 K (USD)-8.76as on Mar 31, 2023
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Net Profit
$75.9 K (USD)22.91as on Mar 31, 2023
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EBITDA
$83.49 K (USD)25.89as on Mar 31, 2023
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Total Equity Funding
$67.1 K (USD)
in 2 rounds
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Latest Funding Round
$67.1 K (USD), Angel Round
Mar 10, 2020
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Investors
K-Startup Grand Challenge
& 1 more
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Employee Count
Employee Count
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Products & Services of TorchIt
TorchIt offers a comprehensive portfolio of products and services, including White Cane, Saarthi, Jyoti, and Saksharta Kit. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Device for navigation assistance for visually impaired individuals.
Smart aid for enhancing independence in daily mobility tasks.
AI reader that supports education for visually impaired users.
Comprehensive kit for empowering visually impaired through learning.
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Funding Insights of TorchIt
TorchIt has successfully raised a total of $67.1K across 2 strategic funding rounds. The most recent funding activity was a Angel Round round of $67.1 thousand completed in March 2020. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Angel Round — $67,102
- First Round First Round
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Mar, 2020 | Amount | Angel Round - TorchIt | Valuation | Sonal Chauhan |
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| Jun, 2018 | Amount | Grant - TorchIt | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in TorchIt
TorchIt has secured backing from 2 investors, including angel and venture fund investors. Prominent investors backing the company include Sonal Chauhan and K-Startup Grand Challenge. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Sector-agnostic acceleration is provided to startups through global programs.
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Sonal Chauhan |
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by TorchIt
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - TorchIt
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Torchit Comparisons
Competitors of TorchIt
TorchIt operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Freedom Scientific, NuEyes, EnChroma, BindiMaps and iMerciv, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Assistive technology products for visually impaired individuals are supplied.
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| domain | founded_year | HQ Location |
Visual magnification aids are supplied for sight-impaired individuals.
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| domain | founded_year | HQ Location |
Provider of eyewear for color blind people
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| domain | founded_year | HQ Location |
Bluetooth-beacon-based indoor navigation is provided for visually impaired users.
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| domain | founded_year | HQ Location |
Wearable sensor clip developed for visually impaired obstacle detection.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Torchit
Frequently Asked Questions about TorchIt
When was TorchIt founded?
TorchIt was founded in 2016 and raised its 1st funding round 2 years after it was founded.
Where is TorchIt located?
TorchIt is headquartered in Ahmedabad, India. It is registered at Ahmedabad, Gujarat, India.
Who is the current CEO of TorchIt?
Hunny Bhagchandani is the current CEO of TorchIt. They have also founded this company.
Is TorchIt a funded company?
TorchIt is a funded company, having raised a total of $67.1K across 2 funding rounds to date.
What is the annual revenue of TorchIt?
Annual revenue of TorchIt is $415.26K as on Mar 31, 2023.
What does TorchIt do?
TorchIt was founded in 2016 in Ahmedabad, India, and operates in the assistive technology sector. Mobility devices known as Saarthi are offered to support visually impaired individuals in navigating indoor and outdoor environments. These products incorporate AI and ML technologies to detect obstacles along paths. The company focuses on electronic solutions tailored for accessibility needs.
Who are the top competitors of TorchIt?
TorchIt's top competitors include Freedom Scientific, BindiMaps and EnChroma.
What products or services does TorchIt offer?
TorchIt offers White Cane, Saarthi, Jyoti, and Saksharta Kit.
Who are TorchIt's investors?
TorchIt has 2 investors. Key investors include Sonal Chauhan, and K-Startup Grand Challenge.
What is TorchIt's valuation?
The valuation of TorchIt is $1.15M as of Mar 2020.
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