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.
Read more about Marsi Bionics and its plans to market its exoskeleton starting this April with the Born2Invest mobile app. Our companion app brings you the latest business news and market updates so you can stay informed.
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.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Moroccan-Spanish borders: towards a return to normal?
Preparations are underway to mark the next edition of the Marhaba operation, to facilitate the transit of Moroccans from around...
NBA players will be able to choose whether to be paid in cryptocurrencies
NBA players will now have the possibility to take their salaries in cryptocurrencies. After the ok for the purchase of...
How the USDA WASDE report influenced futures markets
Soybeans and Soybean Meal were lower with a lot of the selling developing on Friday in response to the USDA...
Digitization of financial services gives wings to fintech companies to reinvent the industry
Creators of increasingly popular solutions such as mobile applications and digital payments, the leaders of the fintech ecosystem will play...
Fellow Funders opens real estate crowdfunding division
The financial company Fellow Funders opens a new line of real estate business with the crowdfunding of $1 million (€870,000)...
Featured7 days ago
Wendel integrates ESG into the financial terms of its undrawn syndicated loan
Crypto6 days ago
Algorand and Siae launch copyright tokenization
Featured6 days ago
CAC 40 ESG: Should you invest in the new index?
Biotech6 days ago
GSK, Lilly and Vir Biotechnology achieve positive results in Phase II COVID-19 study