Myomo, Inc., a Cambridge, MA-based medical device company specializing in myoelectric orthotics for people with neurological disorders, closed $5m Series B-funding.
Mountain Group Capital, a venture firm focused on medical devices and technology investments, was the lead investor in the round.
The company intends to use the funds as working capital as well as to support investments in sales and marketing, new product development, and expanded clinical studies of the MyoPro powered orthosis.
Led by Paul R. Gudonis, Chief Executive Officer, Myomo is a medical device company specializing in myoelectric orthotics for people with neurological disorders. Its products help to restore function in individuals with neuromuscular conditions such as brachial plexus injury, traumatic brain injury, spinal cord injury, Multiple Sclerosis, ALS, and stroke.
The technology was originally developed at Massachusetts Institute of Technology in collaboration with medical experts affiliated with Harvard Medical School.