NextStep Robotics

company

About

NextStep Robotics is developing the first effective treatment option for foot drop to help stroke survivors.

  • 1 - 10

Details

Last Funding Type
Grant
Last Funding Money Raised
$1M
Industries
Biotechnology,Rehabilitation,Robotics
Founded date
Jan 1, 2017
Number Of Employee
1 - 10
Operating Status
Active

NextStep Robotics provides clinics the ability to offer personalized robotic therapy to patients through adaptive software that provides a personalized assist as needed approach. This is the first ever clinically proven option to effectively treat foot drop. Their robot is easy to use and designed to be run by lower skilled clinic staff freeing up therapists to focus on more hands modalities. As they collect more data, the software will transition into an AI-based system to assess and assigns training protocols optimized for each patient’s deficit. The improved outcomes will allow clinics to provide reimbursable therapy using existing CPT codes for gait training on a patient base they currently have no treatment for. The device will be registered with the FDA as a Class 1 Exercise Device; and so, it can be sold and used WITHOUT FDA APPROVAL. Allowing NextStep Robotics to immediately generate revenue through: 1) Direct sales/leasing of robots; 2) Subscription to software service; 3) Service contracts.

Funding Rounds

Number of Funding Rounds
Total Funding Amount
3
$2.50M
NextStep Robotics has raised a total of $2.50M in funding over 2 rounds. Their latest funding was raised on Aug 21, 2019 from a Grant round.
Announced Date Round Money Raised Number of Investors Lead Investors Post Valuation
Aug 21, 2019 Grant $1M 1 National Institutes of Health Detail
May 14, 2019 Seed $600K 1 Detail
Feb 6, 2018 Seed $0.90M 1 Detail

Investors

Number of Lead Investors
Number of Investors
1
3
NextStep Robotics is funded by 3 investors. National Institutes of Health and UM Ventures are the most recent investors.
Investor Name Lead Investor Funding Round
National Institutes of Health Yes Grant
UM Ventures Seed
TEDCO Seed