Cionic, a San Francisco, CA-based neurotech company, raised $12M in Series A extension funding.
The round, which brought the total amount to $25M, was led by L Catterton, and joined by an additional new investor THVC. Additionally, Cionic has also partnered with Enable Ventures. As part of L Catterton’s investment, Venture Partner and experienced entrepreneur Whitney Casey joined Cionic’s Board of Directors.
The company intends to use the funds to grow user and clinician adoption of the Cionic Neural Sleeve among the millions of individuals experiencing impaired mobility as a result of multiple sclerosis, strokes, cerebral palsy, and other neurological conditions, and to accelerate its product pipeline into new indications addressing the full spectrum of human mobility.
Led by Jeremiah Robison, Founder and CEO, Cionic is neurotech company facilitating more independent movement through FDA-cleared bionic clothing. Its lead product, the Cionic Neural Sleeve, can analyze and augment human movement, enabling the body to move with more freedom and control than with crutches, walkers, or wheelchairs. The Cionic Neural Sleeve combines a gait lab with Functional Electrical Stimulation (FES) into a lightweight, durable garment that can be worn anywhere and work everywhere.
Cionic has doubled its headcount in the past six months and established a state-of-the-art manufacturing facility in Northern California. The company is now licensed to ship the Cionic Neural Sleeve to 45 states in the US, with over 400 prescribing institutions.
FinSMEs
19/10/2023