Phantom Neuro, a neurotech company advancing human-machine interfaces, announced an oversubscribed $19 million Series A funding round led by Ottobock, a leader in prosthetics, orthotics, and exoskeleton technology. This funding round includes participation from existing investors, including Breakout Ventures, Draper Associates, LionBird Ventures, Time BioVentures, and Risk and Return, and new investors Actual VC, METIS Innovative, e1 Ventures, Jumpspace, MainSheet Ventures, and Brown Advisory.
This funding round brings Phantom Neuro’s total funding to $28 million and represents a milestone in the company’s mission to advance its Phantom X robotic control platform to patients.
This funding will support preclinical testing, completion of first-in-human trials, regulatory submissions, and expanded research and development for broader control applications beyond prosthetic limbs.
This funding follows Phantom Neuro’s recent Breakthrough Device Designation and TAP (Targeted Acceleration Pathway) Designation from the U.S. FDA for Phantom X. And Phantom Neuro’s ASCENT study showed that Phantom X achieved 94% accuracy in decoding real-time gestures across 11 essential hand and wrist movements, supporting its potential to restore function and independence for individuals with mobility impairments.
New board member: As part of the funding, Ottobock will join Phantom Neuro’s Board of Directors, bringing expertise in global prosthetics and exoskeleton markets to support Phantom’s commercialization efforts.
KEY QUOTES:
“Ottobock’s backing underscores the growing convergence of neurotechnology, prosthetics, and robotics. For decades, Ottobock has been at the forefront of restoring mobility for millions of people. By partnering with them, we’re accelerating Phantom X’s path to market and laying the groundwork for the future we all desire where assistive devices truly function as natural extensions of the human body.”
– Dr. Connor Glass, Founder and CEO of Phantom Neuro
“Phantom Neuro is transforming the way people interact with assistive devices, and their minimally invasive neural interface technology represents an exciting step forward for the field. Our investment reflects our ambition as a MedTech champion to lead the prosthetics market, ensuring that patients have access to the most effective solutions possible. We look forward to working with Phantom Neuro to expand access to this groundbreaking technology.”
– Ottobock CEO Oliver Jakobi
