Phantom Neuro, a neurotechnology firm that gives a muscle-machine interface for controlling prosthetic limbs and robotic exoskeletons, introduced an oversubscribed $19 million Collection A funding spherical, bringing its complete elevate to $28 million.
Ottobock led the spherical with participation from present traders Draper Associates, Time BioVentures, Breakout Ventures, Danger and Return, and LionBird Ventures and new traders METIS Revolutionary, e1 Ventures, Precise VC, MainSheet Ventures, Jumpspace and Brown Advisory.
WHAT IT DOES
Phantom Neuro, spun out of Johns Hopkins College Faculty of Drugs, presents its peripheral neural interface know-how, Phantom X. The corporate says this know-how permits one to manage complicated digital programs, reminiscent of prosthetics and robotic skeletons, as pure extensions of the human physique.
The corporate will use the funds to finish its first human trials, conduct preclinical testing, advance regulatory submissions, and develop analysis and growth to discover broader purposes of its know-how past prosthetic limbs.
“Ottobock’s backing underscores the rising convergence of neurotechnology, prosthetics and robotics,” Dr. Connor Glass, founder and CEO of Phantom Neuro, mentioned in a press release.
“For many years, Ottobock has been on the forefront of restoring mobility for thousands and thousands of individuals. By partnering with them, we’re accelerating Phantom X’s path to market and laying the groundwork for the longer term all of us want the place assistive units really operate as pure extensions of the human physique.”
MARKET SNAPSHOT
In March, Texas-based Phantom Neuro, which leverages neuroscience, surgical procedure, robotics and AI, obtained two FDA designations for Phantom X, together with breakthrough gadget and TAP (Focused Acceleration Pathway) designations.
In 2023, the corporate introduced it was merging internet-of-things (IoT) know-how with implantable medical programs by partnering with Silicon Labs Wi-Fi, which helps gadget makers in creating edge connectivity purposes.
Edge connectivity purposes are software program options designed to function on edge units, permitting them to course of information logically with no need fixed connectivity to a centralized system.
In 2022, Phantom Neuro secured $3.25 million in seed funding and, subsequently, $6 million in expanded seed funding.
That very same yr, the corporate introduced an alliance with Blackrock Neurotech, an organization that develops brain-computer interface know-how. The businesses partnered to boost Phantom X’s analysis and growth and speed up its path to scientific trials.
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