Open Bionics, named as one of the hottest startups in Europe, has bagged a $5.9 million funding for its affordable and cool bionic limbs. The startup having already received praises from Dalai Lama produces bionic limbs for children and adults using 3D printing technology. The limbs are cheap, lightweight and fashionable are medically certified and registered by FDA.
Amputees often use prosthetics, but earlier prosthetic were not very individualized which proved to be drag on the swift movements of limbs. Children using the prosthetics are often bullied by their peers, which causes a considerable amount trauma which they carry to later life. Inspired by this quest to design and develop cool, rock star like prosthetics with high technical and sensory capabilities, the founders of Open Bionics namely Joel Gibbard and Samantha Payne started their venture.
The startup has grown rapidly since its founding and just two years ago in 2016 it secured a deal with UK’s National Health Service which involves a feasibility study with SBRI Healthcare as partner to develop an affordable bionic multi-grip hand for amputees which may save millions of pounds for the UK government. The current bionic hands can cost $100,000 in some cases with no satisfactory performance, as sometimes the prosthetics don’t fit well or don’t work well.
Open Bionics has addressed the measurement issue by using a 3D printing technology to create personalized prosthetics for individual sizes. The $5.9 million investment which came from Williams Advanced Engineering Group, Ananda Impact Ventures and Downing Ventures will mark a successful Series-A round of funding. The company which is hosted at Bristol Robotics Lab will use the funding to expand to other markets as well like US, Germany, UK and France.
The company said that it has managed a price which is affordable enough to be adopted by UK’s National Health Service. The company the sale of its ‘Hero Arm’ in May 2018 which has been bestselling in the UK, Spain and France. The Hero Arm is equipped with sensors which enables it to track multiple finger movements allows movements at different speeds, the wearer as a result is able to pick up tiny objects like stones and carry shopping baskets with a strong grip.
The founders of the company who have received hottest founders award by The Europa Startup Awards said that the investment will provide Open Bionics crucial capital for delivering on its vision to provide advanced bionic prosthetics to multiple international markets as well to carry out more developments in the technology innovation.