The company plans on using the £600,000 Intellectual Property backed loan to expand in the US and DACH regions.
Open Bionics aims to open six more clinics in the US to provide greater access to its prosthetic products to amputees.
The company manufacturers several low cost bionic arms for amputees with below elbow amputations. Their arms are fully functional with lights, ventilation and functions that allow users to grab and have various forms of movability.
Product examples include the Hero Arm, a 3D printed bionic arm that has multi-grip functionality and The Hero Gauntlet - a partial hand prosthesis.
Children as young as five have had access to the Hero Arm and the NHS has made Open Bionics devices available to patients who meet certain criteria.
“We’re really excited to use this funding to supercharge growth in the USA and make it much easier for our patients to access specialist care within their state by visiting their Open Bionics clinic," said Samantha Payne, Open Bionics co-founder and chief executive (USA).
Innovations and investments in prosthetics has become increasingly common with UK-based prosthetic innovator Koalaa recently collaborating with Paralympians to develop "world first" prosthetic arm for cyclists.
