Technical.ly Baltimore: Baltimore-Born NextStep Robotics Gets Investment from Maryland Momentum Fund
Tuesday, February 6, 2018
NextStep Robotics, a startup which makes a device to treat foot drop, closed on $750,000 in new funding, said CEO Brad Hennessie.
The Baltimore-based company is the second to receive investment from the Maryland Momentum Fund, which was created by the University System of Maryland to back startups based on technology developed at the state schools. The Maryland Momentum Fund invested $250,000 in the company. The fund requires co-investors, and a group affiliated with Vancouver, Canada–based Fort Capital also contributed to the round.
The company makes a robotic device to treat foot drop syndrome, which limits a patient’s ability to lift a toe while walking. It is common in patients recovering from stroke, as well as those with diabetes and Parkinson’s disease.
The robotic device is designed as a training device that helps patients regain mobility, and can be used by staff at a physical therapy site rather than the specialist.
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