AUSTIN, Texas, April 15, 2025 ~ In a major development for the field of neurotechnology, Phantom Neuro has announced an oversubscribed $19 million Series A funding round led by Ottobock, a global leader in prosthetics, orthotics, and exoskeleton technology. The round also includes participation from existing investors such as Breakout Ventures, Draper Associates, LionBird Ventures, Time BioVentures, and Risk and Return, as well as new investors Actual VC, METIS Innovative, e1 Ventures, Jumpspace, MainSheet Ventures, and Brown Advisory.

This latest investment brings Phantom Neuro's total funding to $28 million and marks a significant milestone in the company's mission to bring its Phantom X robotic control platform to patients. The funds will be used to support preclinical testing, complete first-in-human trials, submit regulatory applications, and expand research and development for broader control applications beyond prosthetic limbs.

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Dr. Connor Glass, Founder and CEO of Phantom Neuro expressed his excitement about Ottobock's involvement in the funding round. He stated that Ottobock's support highlights the growing convergence of neurotechnology with prosthetics and robotics. He also added that Ottobock has been at the forefront of restoring mobility for millions of people for decades and partnering with them will accelerate Phantom X's path to market.

As part of the investment deal, Ottobock will join Phantom Neuro's Board of Directors. This move brings valuable expertise in global prosthetics and exoskeleton markets to support Phantom's commercialization efforts.

Ottobock CEO Oliver Jakobi shared his enthusiasm about the partnership with Phantom Neuro. He stated that their investment reflects their ambition as a MedTech champion to lead the prosthetics market by providing patients with access to the most effective solutions possible. He also expressed his excitement about working with Phantom Neuro to expand access to their groundbreaking technology.

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This funding comes on the heels of two significant designations received by Phantom X from the U.S. Food and Drug Administration (FDA) - Breakthrough Device Designation and TAP (Targeted Acceleration Pathway) Designation. These designations validate the platform's potential to improve patient outcomes by providing lifelike control of prosthetic limbs and assistive devices, and also help expedite regulatory approvals.

In addition to these achievements, Phantom Neuro's ASCENT study demonstrated that Phantom X achieved an impressive 94% accuracy in decoding real-time gestures across 11 essential hand and wrist movements. This further supports the platform's potential to restore function and independence for individuals with mobility impairments.

With this latest round of funding and support from Ottobock, Phantom Neuro is well-positioned to continue its groundbreaking work in advancing human-machine interfaces and revolutionizing the field of neurotechnology.

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