Neuvotion, a MedTech startup based in Connecticut, has raised $1 million in seed funding to commercialize neurostimulation devices for rehabilitation and physical therapy.
The funds were provided by the Long Island Angel Network and the Good Shepherd Rehabilitation Network in the form of equity investment. The funding will allow Neuvotion to expand its team while also starting clinical studies and apply for FDA clearance. Michael Spigel, PT, MHA, President & CEO of Good Shepherd Rehabilitation Network, referred to the organization’s participation in the round by stating:
“As a leading provider of rehabilitation services, we see tremendous clinical potential for Neuvotion’s NeuStim technology. We look forward to serving as a foundational research partner in Neuvotion’s upcoming multi-site clinical study. We feel strongly that this technology can help transform lives for people with spinal cord injuries, strokes and other neurological conditions.”
The startup was founded in 2019 to innovate in the development of neurostimulation products specifically designed to help patients undergoing rehabilitation and physical therapy. By using AI to improve the targeting of the neurostimulation, the devices developed by the startup could prove extremely beneficial for patients with impairments resulting from strokes, traumatic injury, or other conditions. Chad Bouton, Founder & CEO of Neuvotion, said about this mission:
“I am inspired by the prospect of helping the millions of patients who have experienced a stroke, traumatic injury, or are living with movement impairment, to reach their goals. We are working to commercialize NeuStim™ and other technologies so they can be used in clinical practice, and ultimately in the home to increase quality of life and independence.”
According to the National Stroke Association, only 10% of all stroke survivors recover almost completely, 40% are left with moderate to severe impairments, 25% recover with minor impairments, and 10% will require nursing or long care permanently. By harvesting the latest developments in neurostimulation technology, Neuvotion believes it can help change these statistics, improving the lives of more than 795,000 Americans in the process.