iWalk Inc., a Bedford, Mass.-based developer of Personal Bionics products, has closed a $17m Series D equity financing round.
The financing was led by new investor Gilde Healthcare Partners, with participation from existing investors WFD Ventures, General Catalyst Partners, and Sigma Partners.
The company intends to use the capital to further develop and commercialize a series of innovative Personal Bionics products and expand its global sales and support infrastructure.
Founded in 2006 by Dr. Hugh Herr and led by Tim McCarthy, CEO, iWalk has developed proprietary BiOM technology that enables natural, normalized and personalized movements for those with ambulatory limitations. The first commercially-available solution, the BiOM Ankle System, emulates an individual’s calf muscles and Achilles tendon function to provide powered plantar flexion, which helps people with limb loss move with a natural gait at their chosen speed using the same metabolic energy as a non-amputee.
The company’s solutions are currently available domestically through a vast network of Certified Bionics Centers, VA Medical Centers and the Department of Defense. In conjunction with the funding, Geoff Pardo, partner at Gilde Healthcare Partners, has joined iWalk’s Board of Directors.