Prosthetic foot developer iWalk drummed up $15 million in venture funding, according to The Boston Globe.
The Cambridge, Mass.-based MIT spin-out is commercializing a robotic prosthesis called PowerFoot designed to sense the position of its wearer’s ankle and react to different walking conditions.
The company’s third funding round was supported by Boston-based Sigma Partners, Cambridge, Mass.-based General Catalyst Partners and New York City-based WFD Ventures. Sigma partner Paul Flanagan is iWalk‘s newest board member, the Globe‘s Innovation Economy blog reported.
The company brought in $20 million in venture funding in August 2009, and with the new financing the company has raised $40 million, according to the blog.
The product is in "early market release," according to its website, but the company plans to deliver its first five commercial PowerFoot devices to the Walter Reed Medical Center later this work, the Globe reported.