Blue Arbor Technologies Secures $10.5M in Series A Funding

Blue Arbor Technologies, a Grass Lake, MI-based provider of neuromuscular interfaces and new prosthetic control solutions, has raised $10.5 million in a Series A financing round led by Ottobock.

The company will use the funding to expand operations and research and development, advance its RESTORE™ Neuromuscular Interface System, and prepare for clinical studies in the United States.

What is Blue Arbor Technologies?

Blue Arbor Technologies develops robotic control systems designed to help people with limb loss operate prosthetic limbs more naturally and accurately.

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Its RESTORE™ System connects with the patient's peripheral nervous system to improve control of robotic prosthetic devices. The technology is designed to allow users to control their fingers, wrist, and elbow independently and simultaneously.

The company is developing two versions of the system: an External Sensing Unit (ESU) and a fully implantable Internal Sensing Unit (ISU). These interfaces are intended to improve the speed, precision, and reliability of prosthetic control.

How Much Funding Has Blue Arbor Technologies Raised?

Blue Arbor Technologies has raised $10.5 million in its Series A financing round. The company has not disclosed its total funding raised before this investment or details of previous funding rounds.

Who Invested in Blue Arbor Technologies’ Series A?

Ottobock led the $10.5 million Series A round. The company did not disclose any other participating investors in the announcement.

Why the Funding Matters

The funding will support the development of the RESTORE™ System, including feasibility studies and preparations to seek an FDA Investigational Device Exemption (IDE) for clinical studies of the External Sensing Unit in the United States.

Blue Arbor also plans to begin developing its implantable Internal Sensing Unit. These efforts are intended to advance the technology toward clinical evaluation, and potential use in prosthetic devices.

Who founded Blue Arbor Technologies?

Blue Arbor Technologies was founded by Alex Vaskov and is headquartered in Grass Lake, Michigan. The company develops neuromuscular interfaces and robotic control technology for people with limb loss.

“Blue Arbor’s technology has the potential to set a new standard in prosthetic control,” said Oliver Jakobi, Chief Executive Officer of Ottobock. “This investment reflects our approach to deploying capital in areas that complement our core business, and offer significant long term growth potential.

"This funding is a testament to the team, the science, and the patients driving this work,” said Tod Borton, Chief Executive Officer of Blue Arbor Technologies. “With two successful human implantations thus far, we are looking forward to helping more patients through our collaboration with Ottobock.

Market and Business Growth

Blue Arbor Technologies' RESTORE™ System was selected for a clinical study led by the University of Michigan and funded through a UG3 grant from the National Institutes of Health.

The company's FDA Breakthrough Device Designation and acceptance into the TPLC Advisory Program Pilot are additional milestones in the development of its technology.

What Happens Next?

Blue Arbor Technologies plans to complete feasibility studies and pursue an FDA Investigational Device Exemption to support clinical studies of its external sensing technology in the United States.

The company will also begin development of its implantable sensing unit while continuing research and development on the RESTORE™ platform.

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