Phantom Neuro Closes $19M Series A to Boost Neural Tech in Prosthetics and Robotics

Phantom Neuro Secures Significant Funding for Neural Technologies

Phantom Neuro, a cutting-edge neurotechnology firm, has successfully closed an over-subscribed Series A funding round and secured a remarkable $19 million investment, led by Ottobock, a global pioneer in prosthetics and orthotics. This funding aims to further advance the company’s groundbreaking Phantom X robotic control platform, aimed at revolutionizing the way individuals with mobility impairments interact with assistive devices.

The new investment brings Phantom Neuro's total funding to $28 million. Not only does it highlight the growing intersection between neurotechnology and robotics, but it also reinforces Phantom Neuro's intent to enhance the functionality and user experience of prosthetic limbs. This round saw participation from notable existing investors, including Breakout Ventures, Draper Associates, and LionBird Ventures, as well as newcomers like Actual VC and METIS Innovative.

As the demand for smarter, more efficient prosthetic solutions continues to rise, Phantom Neuro’s innovative approach incorporates minimally invasive neural interface technology. This technology is designed to restore intuitive movement and enable natural control over prosthetic devices. According to Dr. Connor Glass, the founder and CEO of Phantom Neuro, the partnership with Ottobock is a pivotal move that accelerates Phantom X's journey to market while merging expertise from both companies to serve patients effectively.

Ottobock’s involvement goes beyond funding; the company’s decades-long experience in the field of prosthetics will play a vital role on Phantom Neuro's Board of Directors, helping to navigate the commercialization process. As noted by Ottobock's CEO, Oliver Jakobi, this cash influx exemplifies their ambition to lead the MedTech space and ensure that patients have access to state-of-the-art solutions.

Recent development strides have paved the way for the upcoming clinical trials of the Phantom X platform. With its recent Breakthrough Device and TAP designations from the FDA, the technology has been validated for its potential to significantly enhance patient outcomes through a greater degree of control. A key highlight from their latest ASCENT study revealed that Phantom X achieved an impressive 94% accuracy in translating real-time gestures for essential hand and wrist movements, a promising advancement for individuals with mobility challenges.

The funding received not only supports earlier stages of clinical testing but will also finance completion of the first human trials and subsequent regulatory submissions necessary for wider market adoption. As the healthcare landscape evolves, the need for innovative solutions that allow for seamless interaction between humans and machines becomes undeniable. Phantom Neuro looks positioned to meet this demand head-on, ensuring that future assistive devices can act as extensions of the human body.

Founded originally at Johns Hopkins University School of Medicine, Phantom Neuro is on a mission to innovate movement for those with mobility impairments, symbolizing an important shift towards a more integrated approach in healthcare technology. With leadership supported by a globally recognized advisory board composed of experts from fields like D.A.R.P.A. and CTRL-Labs, the company is poised to stay at the forefront of neurotechnology.

As Phantom Neuro continues to carve its niche within this dynamic landscape, the partnership with industry stalwart Ottobock embodies a shared vision to enhance quality of life for millions. Ensuring that proper care and resource allocation accompany this innovative technology will be crucial. For more details about their ongoing projects and future endeavors, visit Phantom Neuro’s official website.

Phantom Neuro's journey is a testimony to the pressing need for advancements that blend human capability with technology, a necessity that delivers not only functional solutions but also restores independence to individuals navigating life with prosthetics.