UpLyft develops the UpLyft ST-120, a ‘zero‑lifting’ patient transfer system designed to restore independence for people with mobility limitations and reduce caregiver injuries in institutional settings. Demand accelerated this year: initial inventory sold out, subsequent sales created a wait list, and the company completed manufacture and shipment of all initial pre‑sold systems to distribution partners and pre‑order customers across 12 states. UpLyft is directing new financing toward a leasing program for consumers at home and healthcare facilities, and anticipates lease demand primarily from hospitals, nursing homes and complex rehabilitation clinics. The company plans to expand manufacturing capabilities in 2023 to meet rising demand. The leasing program is intended to support fulfillment of 2,000 leased units to consumers, healthcare facilities and distributors nationwide. Financially, UpLyft completed an initial closing of a $5 million Preferred Stock round in July 2022 and is offering additional Preferred Stock to accredited investors via its Redcrow investment portal. UpLyft designs a self-transfer system that moves people between bed or gurney and wheelchair without physical force from a caregiver. The device is rated to handle users weighing up to 600 lbs and is aimed at both consumer/home and hospital-grade use. UpLyft has oversubscribed pre-orders and plans to commence initial manufacturing of pre-order sales demonstration units locally in San Diego. The company targets a $19 billion total available market spanning home care, hospitals, nursing homes and assisted living, and serves populations including Parkinson’s, ALS, muscular dystrophy, multiple sclerosis, spinal-cord injury paralysis, and seniors. The consumer configuration is expected to be priced similar to home stairlifts; the hospital-grade product is designed for obesity accommodation and integration with healthcare IT, with both products expected to generate gross margins in line with the ~70% medical device industry average. UpLyft has raised $900,000 since inception, including over $100,000 from investors at the San Diego Angel Conference III, and lists participation from Tech Coast Angels, U.S. Angels and a Qualcomm wearables executive. The company is protected by 14 issued patents and seven pending patents.

Total raised

$10M

Funding rounds

2

Latest round

Debt Financing

Latest activity

Nov 2022