Marsi Bionics closes €1 million round through Fellow Funders

The Madrid-based company Marsi Bionics has closed a financing round of $1.17 million (€1 million) through the Fellow Funders platform. The company will use the funds to develop its pediatric exoskeletons on an industrial scale and prepare its arrival on the international market, once it obtains the CE marking, which will presumably be this April, according to what the company explained. 

The initial objective of Marsi Bionics, once the round was opened at the end of last year, was to raise $1.76 million (€1.5 million). The company hopes to advance with its robotic exoskeletons with variable stiffness joints, which accurately simulate muscles and tendons, for the improvement of human gait in patients with neuromuscular diseases. The Atlas 2030 pediatric exoskeleton is intended for the treatment of Spinal Muscular Atrophy (SMA). The minimum ticket per investor is $2,000 (€1,710). The company will also use the amount raised to hire new professionals in areas such as engineering, information, and communication technologies (ICT), and business development. In addition, part of the money will be used for the development of trials, marketing tasks, and legal expenses.  

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Marsi Bionics has its own laboratory, where it works to improve designs and usability 

Marsi Bionics is a spin-off of the Centro de Automática y Robótica (CAR), a joint center of the Universidad Politécnica de Madrid (UPM) and the Consejo Superior de Investigaciones Científicas (Csic). Continuous therapy with the exoskeleton is estimated to have a direct impact on the health problems caused by SMA and can lead to a 50% increase in life expectancy. 

The company participates in numerous clinical trials in different hospitals and specialized centers, in addition to its laboratory, Marsi Care, where they carry out research work with children and adults, to improve their designs and prove their usefulness. In addition, Marsi Bionics has Hubotik, a movement analysis, ergonomics, biomechanics and motor control laboratory. 

The Spanish company’s devices have the ability to collect data from patients so that, once a representative sample has been collected, it can be stored in the cloud. This information allows doctors and clinicians to personalize therapies, identify trends and prepare preliminary reports.  

The company expects to reach a revenue volume of $11.7 million (€10 million) after the commercialization of its product

The business model developed by the company is a B2B one in which exoskeletons are supplied to hospitals and rehabilitation centers for application in patients, both as a proprietary and as a medical device as a service (renting or pay-per-use). 

Marsi Bionics is evolving its MAK Active Knee device for home use without direct physician supervision, moving from a clinical market to mobility assistance applications for activities of daily living, thus becoming a B2C device. The company points out that the use of this product, after knee prosthesis surgery, allows a 66% faster, stable, effective and pain-free rehabilitation. 

Marsi Bionics was founded by Elena García, a graduate in Robotics and Computer Vision from the UPM and in Industrial Engineering (specializing in Electronics and Automotive) from the UPM. García has been principal investigator (2007-2019) for the Center for Automotive and Robotics, until she decided to found Marsi Bionics eight years ago. The company managed for the first time to exceed $1.17 million (€1 million) in revenues in 2019. Marsi Bionics estimates it will reach, if it also meets the commercialization forecast for its adult exoskeleton, up to $11.7 million (€10 million) in revenue in 2022.

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(Featured image by Brandon Martin Anderson CC BY-SA 2.0 via Flickr)

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