In January 2019 the Foresight Williams Technology EIS Fund invested £1.5 million into Open Bionics Limited . This is the Fund's ninth investment.
Open Bionics is building and developing the next generation of bionic limbs and the investment is part of a £4.66 million growth round to scale the business. Williams Advanced Engineering will assist in production engineering.
An award-winning designer, manufacturer and supplier of bionic limbs, Open Bionics has ambitions to become a market leader in a range of bespoke prostheses and assistive technologies and a global supplier of prosthetic and orthotic products and services. Based in Bristol, the Company was founded just four years ago by CEO Joel Gibbard and COO Samantha Payne, since when the team has grown to 23.
The Company’s first commercial product, its Hero Arm, uses 3D printing and simplified mechanical systems which has opened up attractive new markets for whom bionic functionality was hitherto too expensive. Combining this competitive pricing with commercial licences from Disney, Marvel and Pixar, positions the Hero Arm most favourably with children as young as eight and adolescents, changing their perceived disability into superhero status.