Prodromus, a JCI Venture seed fund portfolio company, has found a private investor. The capital raised will help the company to build an international sales network and develop new rehabilitation robots.
Prodromus has developed and patented a device called Prodrobot which is an automated gait trainer. The robotic device is intended to be used for the rehabilitation of lower limbs in children with cerebral palsy, spina bifida, brain injuries as well as dysfunctions of neurological and traumatic origin. Prodrobot's greatest advantage is its gait pattern, translated into computer language, which was developed in collaboration with researchers from Krakow's University School of Physical Education. The pattern nearly perfectly simulates the movements of a healthy individual. The technology utilized in Prodrobot allows the user to simultaneously stimulate six lower limb joints, as part of several training programs available. Compared with rehabilitation robots manufactured by competitors, Prodrobot boasts compact size offered at a lower price. Thanks to its small dimensions, this gait trainer will fit in any therapy rooms or physiotherapy areas, including those without specialist facilities.
JCI Venture's President, Mr Paweł Błachno, expressed his satisfaction with the fact that Prodromus has attracted a new investor. - At the seed stage, we invested several hundred thousand zlotys in Prodromus, acquiring a minority shareholding. Finding a private equity investor within less than three years since the seed stage represents a great opportunity for the company, while for us this is a reason for satisfaction and proof of a sound investment decision - explains Mr Błachno. He adds that - Special praise, above all, should first go to those who designed Prodromus. Based on their passion for making things and helping others, they founded a business that can compete with foreign rivals in the difficult medical product market.
Warsaw Equity Group acquired a 20.35% shareholding in Prodromus Sp. z o. o. The capital raised will be used to grow the company and develop products. Konrad Rosiński, an investment analyst for Warsaw Equity Group explains, - In 2015 the global rehabilitation robot market was worth $577 million, and by 2020 this value is expected to increase to $1.73 billion. This is a very promising market and we are very keen for a Polish manufacturer to be an important player in this market. Prodromus has a unique product, ready to be launched, that has already proved its worth in the domestic market. And Przemysław Danowski, WEG Board Member says: - The company's team were also instrumental in convincing us to make the investment. Bartek's and Grzegorz's combination of knowledge, experience and passion, which is a driving force behind what they do, should make it easier for us to accomplish the ambitious goals that we have jointly set for ourselves.
Over the next two years Prodromus intends to develop a version of the robot for adults and a cheaper option for home-based rehabilitation.
JCI Venture Sp. z o.o. is a fund wholly owned by the Jagiellonian Center of Innovation that has been operating since 2009. To date, it has initiated the operation of over a dozen innovative companies whose efforts have resulted in the market launch of advanced rehabilitation robots, specialized services for pharmaceutical companies, medicinal products and biotechnologies, to name a few.
Warsaw Equity Group - a private investment company, founded and run by entrepreneurs; it specializes in venture capital/private equity investments. Over the 20 years of its presence in the market, it has made investments in numerous initiatives and businesses, such as the Gadu-Gadu instant messenger (successfully sold to Naspers), Artifex Mundi – a games developer, ZMorph – a multi-tool 3D printer manufacturer, and Vigo System – a global leader in infrared detectors, with one of its products having been installed in the Curiosity Mars rover.
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