Icarus Medical Raises $7.2M in Series A Funding Round

The round saw the Backers included Riptide Ventures, OSF Ventures, CU Healthcare Innovation Fund, Highpoint Ventures, MedTech Connect, Neovate Capital Partners, and BLU Venture Investors.

The company plans to use the funds to speed up its commercial expansion across the United States, continue developing new products, expand manufacturing capacity, support clinical studies of its existing devices, and grow its team as it strengthens its national presence.

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In addition to funding, these investors bring healthcare expertise, commercialization experience, operational support, and valuable industry connections that will help Icarus Medical grow and advance its next stage of development.

Icarus Medical is developing a new generation of orthopedic braces that combine biomechanics, advanced manufacturing, and patient-focused design. The goal is to help people stay active, reduce pain, and improve mobility.

Its products include the Ascender Knee Brace for people with osteoarthritis, as well as other solutions designed for post-surgery recovery, neurological conditions, and complex lower-limb mobility problems.

Icarus Medical designs and manufactures its products in Charlottesville, Virginia, while continuing to expand its production capabilities and create new local jobs.

Over the past year, the company was named to the Inc. 5000 list of America’s fastest-growing private companies after achieving 1,283% growth over three years. It also received the 2026 CBIC Startup of the Year Award from the Charlottesville Business Innovation Council.

"Healthcare innovation requires more than just great technology. It requires strong clinical alignment, operational execution, and the ability to scale," said Dave Johnson. "We believe this group of investors positions us extremely well for the next phase of the company."

"Our health system's mission is to serve all persons with the greatest care and love. As we evaluated Icarus Medical, we needed to be confident that its solutions could meaningfully improve the lives of the patients we serve, said Ben Spektor, director of Venture Investments at OSF Ventures. "Through engagement with our clinicians, we quickly validated that conviction and received strong feedback regarding both the significant unmet need and the value of Icarus' innovative bracing technology.

"This financing represents a major milestone for Icarus Medical and validates both the clinical impact of our technology and the strength of the team we have built," said Dave Johnson, Founder, and CEO of Icarus Medical. "We are excited to partner with investors who not only believe in our mission but who also bring strategic insight and relationships that can help accelerate our trajectory."

About Icarus Medical

Founded in 2019 by Dave Johnson and Evan Eckersley, Icarus Medical is a medical technology company based in Charlottesville, Virginia. The company develops advanced orthopedic braces and mobility solutions designed to help patients reduce pain, improve movement, and stay active. By combining biomechanics, software, and additive manufacturing, Icarus Medical creates products for osteoarthritis, post-surgical recovery, neurological conditions, and other lower-limb mobility challenges.

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