Open Bionics secures £4.7m Series A funding to expand bionic limb production
The investment was led by Williams Foresight and Ananda Ventures to scale production and support international expansion.
Share allotment filed at Companies House
Open Bionics is a Bristol-based company that develops low-cost 3D-printed bionic prosthetics, including the medically certified Hero Arm.
Open Bionics has secured £4.7m in a Series A funding round led by Williams Foresight and Ananda Ventures. Existing backers Downing Ventures and Rathbone Nominees also participated in the financing.
The capital will be deployed to scale operations and advance the development of next-generation bionic limbs. The company is particularly focused on rolling out its Hero Arm, noted as a clinically tested and FDA-registered 3D-printed bionic device, as it prepares to expand into international markets including the United States.
Legal and advisory support for the transaction was provided by TLT, which has advised the prosthetics firm since its early stages.
From the founder
"We’re exceptionally excited to receive this support from such high calibre investors who offer not only financial backing but incredible experience in commercialisation, measuring impact and engineering high performance hardware. This funding enables us to serve multiple international markets and we’re thrilled to be heading to the US later this year."
Sammy Payne
Co-founder at Open Bionics
Investor perspective
"We were delighted to support Sammy, Joel and the Open Bionics team on this significant milestone. They are a great example of the innovative technology being developed in Bristol that is attracting investment from both UK institutions and international investors: a combination that we anticipate will create some of the leading companies of tomorrow."
Nina Searle
Associate, TLT
Use of funds
- 01Expand into international markets
- 02Continue product development
