iotaMotion, a St. Paul, MN-based company developing advanced robotic-assisted systems for cochlear implant surgery, raised an undisclosed amount in Series B funding.
Backers were not disclosed.
The company intends to use the funds to scale commercial operations while driving further innovations in the field of cochlear implantation.
Led by Mike Lobinsky, President and CEO, iotaMotion is a medical technology company dedicated to advancing the outcomes of cochlear implantation through innovative, robotic-assisted solutions.
Its flagship product, the iotaSOFT® Insertion System, provides enhanced control beyond the capability of a human hand during electrode array insertion.
The Series B raise also came with an expansion of its Board of Directors with the addition of Jeff Hopkins.
Commenting on the news, Mike Lobinsky said: “Creating a market for robotic assistance and then subsequently generating demand for the technology has resulted in some of our centers demonstrating a 20% increase year over year cochlear implant program growth compared to the market average of 7%.”
FinSMEs
29/01/2025