Myomo Raises $5M

What does Myomo do?

Myomo, is a medical technology company which develops Myoelectric prosthetic technology to powered bracing devices for restoring the mobility of people who have muscle weakness. This company offers Myomo mPower 1000, which is a portable lightweight functional arm brace which can be used at home and in clinics. It restores movements to a weak arm caused because a neuromuscular damage, due to brain damage caused by spinal injuries, stroke, multiple sclerosis, muscular dystrophy, cerebral palsy etc.

It provides a Push, Eat, Reach, Lift- PERL technique which is a treatment based on research which integrates the mPower 1000 into repetitive task practice programs which aim in increasing the functional activity.

How much Myomo was funded?

Myomo raised $5M in Series B-1 funding on May 13^th, 2015 from Mountain Group Capital, which focuses on medical devices and tech investments. It is the lead investor in this round.

Previous funding

$7M in Venture round on October 8^th, 2013 from Mountain Group Captial.

$616.8K in Venture round on December 18^th, 2009 from Mountain Group Capital.

What is next for Myomo?

Myomo will use the funding as working capital to support its investments in marketing and sales, for developing new products and expanding clinical studies of its MyoPro powered orthosis. The company is expecting to provide  its MyoPro orthoses to even more number of people who are impacted by neuromuscular conditions.  Myomo has signed a new distribution agreement with Ossur, which is a leading prosthetic industry, to assist even more patients.

More about Myomo

Myomo was founded on January 1^st, 2004.  It has its headquarters in Cambridge, CA. It specializes in myolectic orthosis for people with neurological conditions. Its products help individuals suffering from traumatic brain injuries, ALS, Multiple Sclerosis, brachial plexus injury in restoring their functioning. Myomo’s technology was originally developed by MIT in collaboration with Harvard Medical School.