Phantom Neuro, a neurotechnology firm that provides a muscle machine interface for controlling prosthetic limbs and robotic exoskeletons, introduced an oversubscribed $19 million Sequence A funding spherical, bringing its whole elevate to $28 million.
Ottobock led the spherical with participation from current buyers Draper Associates, Time BioVentures, Breakout Ventures, Danger and Return, LionBird Ventures and new buyers METIS Progressive, e1 Ventures, Precise VC, MainSheet Ventures, Jumpspace and Brown Advisory.
WHAT IT DOES
Phantom Neuro, spun out of Johns Hopkins College College of Drugs, affords its peripheral neural interface expertise, Phantom X. The corporate says this expertise permits one to regulate complicated digital techniques, similar to 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 increase analysis and growth to discover broader functions of its expertise 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 an announcement.
“For many years, Ottobock has been on the forefront of restoring mobility for tens of millions of individuals. By partnering with them, we’re accelerating Phantom X’s path to market and laying the groundwork for the long run all of us want the place assistive units actually perform 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) expertise with implantable medical techniques by partnering with Silicon Labs Wi-Fi, which helps gadget makers in creating edge connectivity functions.
Edge connectivity functions are software program options designed to function on edge units, permitting them to course of knowledge 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 12 months, the corporate introduced an alliance with Blackrock Neurotech, an organization that develops brain-computer interface expertise. The businesses partnered to reinforce Phantom X’s analysis and growth and speed up its path to scientific trials.
