Personal bionics company iWalk has closed a $17m series D round of financing led by Gilde Healthcare Partners which deployed it’s Philips-backed healthcare investment fund. Existing investors WFD Ventures, General Catalyst Partners, and Sigma Partners also participated in the the round.
Geoff Pardo, partner at Gilde Healthcare Partners, will also join iWalk’s board of directors.
Massachusetts based iwalk, founded in 2006 by MIT researcher Hugh Herr, fabricates neurologically operated prosthetic limbs using their proprietary BiOM technology. The company says the capital raised will be used to further develop and commercialize new products as well as expand its global support and sales infrastructure.
iWalk previously raised $15m in a series C round round last year, $20m in a series B round in 2009 and $5m in a series A round in 2007. Additionally the company secured $3.1m in debt financing from a group of nine undisclosed investors in July this year.
Tim McCarthy, chief officer of iWalk said in a press release: “Gilde Healthcare Partners joins our team of committed investors. With their financial support and partnership, we will build on the success of our BiOM Ankle System and grow the organization to better support the global demand for our next generation of Personal Bionics products.”