iotaMotion, Inc., an Iowa City, Iowa-based medical device startup spun out from the University of Iowa’s Otolaryngology Department, raised an additional $2.52m in second funding.
The backers remained undisclosed.
The company intends to use the funds for development and commercialization of iotaSOFT™.
Led by Chris Kaufmann, MD, President and co-founder, iotaMotion is advancing iotaSOFT, a robotic-assisted insertion device, which will allow surgeons to advance cochlear implant electrodes with the control and precision of robotics.
The company is focused on achieving development and regulatory milestones on its way to commercializing the product and announced the completion of the iotaSOFT human-factors usability study, held in July with participation from cochlear implant surgeons in a simulated use clinical environment.
This is a significant milestone on the path towards FDA submission of the novel technology.