Co-founder of Fego, Mr Kolli Madhav Reddy explains their product to Israeli members at the inauguration of iCreate centre in Gujarat recently.
Hyderabad: T-hub-affiliated startup Fego, which addressed the everyday struggle on Indian roads due to their bad condition, showcased its product to Prime Minister Narendra Modi and Israeli Prime Minister Netanyahu in Gujarat. Of the hundreds of applications received for showcasing start-ups at the Indo-Israeli meet, Fego was the only one from Hyderabad.
Fego founder Viswanadh Malladi said, "We got a chance to showcase our product along with nine other start-ups. Mr Modi and Mr Netanyahu looked at our start-up before the inaugural of the iCreate Centre. We explained our product to both the Prime Ministers."
Unable to address the perennial problem of potholes, too many speed breakers and bad roads, Fego manufactured the first of its kind accessory which reduced shocks and vibrations by almost 46 per cent. The Fego Float is like an air bed with bubbles filled with air which are interconnected. Once a commuter sits on it, air adjusts itself in such a way that the weight is distributed across the seating.
"According to our research 80 per cent of commuters are troubled by bad roads. Since we cannot manufacture new vehicles, but want to address the problem of users, we came out with this affordable new age accessory," Mr Malladi said.
"When a vehicle hits a pothole or a speed breaker, each air bubble in the Fego Float acts as a shock absorber and isolates shocks that are transmitted to the bottom and the spine. It is designed for both two- and four-wheelers," Mr Malladi said. The startup based out of Hyderabad was founded by three friends who were students of NIT Surat.
Institutions like JNTU Hyderabad through its micro, small and medium enterprises-technology business incubator, the Gujarat government and the National Design Business Incubator (NDBI) financially aided Fego in its early years. Angel investor BVS Group recently invested in the product. After demonstrating the prototype for almost two years, the owners launched their product, and in 45 days generated Rs 25 lakh through crowd funding.
According to Mr Malladi, "Automotive test systems for companies like Fiat and Mahindra and Mahindra, noted that Fego Float reduces shocks and vibration by 46 per cent. In general, any vehicle in India doesn’t reduce this by more than 10 per cent." The product costs Rs1,559 for a bike seat and Rs 1,799 for car one. The product will be available for purchase on e-commerce websites in a month, he added.