Brad Hennessie
NextStep Robotics raised $500,000 in new funding that will help the company progress toward launch of its wearable device to treat a condition that’s common in stroke survivors.
The bridge round included participation from a pair of previous investors in the company. Maryland Momentum Fund, the venture fund of the University System of Maryland, invested $25,000 — the same amount it did in 2018 when NextStep became the then-nascent fund’s second investment. The Baltimore-based Abell Foundation, which makes early-stage investments with an eye toward creating jobs in Baltimore, also returned as an investor, along with new investor University of Maryland Global Campus.
Born out of a decade of research at the University of Maryland, Baltimore and Baltimore Veterans Affairs Motor Performance Laboratory, the three-year-old company’s robotic device and software are designed to treat foot drop, which limits a patient’s ability to lift a toe while walking. The device, called AMBLE, is worn by patients during therapy. The product also has a software component that uses AI and assigns training.
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