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Open Bionics launches crowd funding with £1.5 million (Hero Arm)

Open Bionics provides assistive devices for people who need more independence and mobility. The Hero Arm, with over 450 units shipped, CE marked and FDA registered, was their first product. Licensing agreements with Disney, Lucasfilm and Marvel to produce Hero Arms in the style of Iron Man.

  • Raised over £10 million to date from aligned VC funds in the UK and Germany
  • The first product is CE marked, FDA registered and Medicare approved
  • Trading in UK, USA and Australia
  • Royalty-free licenses with Disney, Marvel and Lucasfilm
  • 8,26%Equity
  • £13,643,068 Pre-money valuation
  • £5.93 Share price

Open Bionics is a purpose-driven company with a mission to make bionic technology more accessible to those who need it.

Open Bionics offers bionic hands for people with upper limb loss below the elbow, with a product roadmap that aims to serve other upper limb differences in the next 5 years. The company has focused on innovations such as 3D scanning, 3D design, and 3D printing to customize and manufacture prostheses. In our estimation, this manufacturing process results in a product that is lighter and more attractive to the end user.

The prosthetics and orthotics market is worth more than $10 billion, with the robotics segment growing at a CAGR of 9.2% and NHS England recently approving bionic multi-grip hands for routine commissioning.

Open Bionics has partnered with major entertainment brands to make prosthetics more exciting for kids and adults alike. (Royalty-free) licensing agreements with Disney, Marvel and Lucasfilm have enabled the company to offer prosthetics that look like their sci-fi counterparts from major movie and video game franchises, such as our Iron Man arm.

The funds from this procurement will be used to finance operations, management positions and further research and development.

At the time of the article, more than one million pounds have already been collected. The deadline for investing is still 14 days.

About the campaign: OPEN BIONICS LTD is raising £1,000,000 investment on Crowdcube. Capital At Risk.

Tom Illauer

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