Ukrainian-founded company Esper Bionics has raised $5 million in investments, with the round led by YZR Capital and co-financed by the EBRD and U.Ventures, the company informed AIN.UA. The funds will be used to scale operations and develop its bionic system.
- Esper Bionics plans to ramp up production of its flagship product, the self-learning Esper Hand prosthesis with integrated AI, which Time magazine named the best innovation of 2022. The prosthesis, which costs $22,000 and is covered by insurance, has also won the Red Dot “Best of the Best” award and the CES Innovation Awards.
- Additionally, the engineering company will add new devices to its ecosystem, including controllers for prosthetic wearers and a cloud-based ML platform.
- Esper Bionics cites research indicating that prosthetic users faced difficulties switching functions with conventional controls and encountered poor mechanical durability in their multifunctional prosthetics. Due to control difficulties and the fear of damaging the prosthetics, many users simply did not use them. A lack of integration between software and hardware also contributes to a poor user experience, a problem the company aims to address.
- The primary market for Esper Bionics remains the United States, but they are also assisting Ukraine. According to the company, they have provided over 80 bionic arms to Ukrainian veterans.
Esper Bionics aims to create the first bionic ecosystem of connected devices that push the boundaries of human potential. Following a successful launch in the U.S. market, the company plans to expand globally, the letter states.
