Colorado-based FitBionic raised USD 2.2 million in support of the global launch of its first product. KMG Capital Partners led the funding round, which was also participated in by High Country Venture and the Colorado Institute for Drug, Device and Diagnostic Development (CID4). Fitbionics is a prosthetics company that focuses on making devices to enable amputees live and cultivate healthy lifestyles.The money raised from the recently closed funding round will be used to launch FitBionic Foot, its first available product.
As part of the agreement, KMG partners Kerry Hicks and Javier Vergne-Morrell will join the board of directors of FitBionic. CID4 President Mark Lupa and its CEO Kevin M. Smith will also be on board. The prosthetic company's founder and executive management team, however, will still retain significant equity interests in the firm. FitBionic Chief Executive Officer Eythor Bender as well as Founder and Chief Technology Officer Jerome Rifkin will also remain in the board of directors.
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