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Cambridge-based iWalk Inc. has received $20 million of a $21 million Series B round to fund development of a self-contained robotic prosthetic ankle, the company has confirmed.
The funding comes from Cambridge-based General Catalyst Partners and New York-based WFD Ventures LLC, according to regulatory documents posted by the U.S. Securities and Exchange Commission this morning.
“IWalk is developing the world’s first robotic ankle for enabling amputees to walk faster with less effort on all terrain types,” said CTO Richard Casler. The company was founded in 2006 by MIT Media Lab professor Hugh Herr, a bilateral amputee himself.
The company has licensed technology from MIT, according to its website.
The latest round adds to a $3.7 million Series A, bringing the company’s total funding over $23.7 million. Casler said the company will invest the funds in new product development, hiring an engineering team.
He declined to provide further details, saying the company is planning a formal announcement in about a month.
General Catalyst’s John Simon and WFD’s William Doyle hold seats on the company’s board, according to the SEC documents.
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