University of Iowa spinout IotaMotion has collect seed capital to help develop its robotic system for cochlear implant surgery.
IotaMotion, a US-based medical device manufacturer spun out from University of Iowa, secured $2m in a seed round yesterday that featured unnamed private investors made up of friends and family.
Founded in 2015, IotaMotion is based on research by Chris Kaufmann and Marlan Hansen at the university’s Otolaryngology Department.
The spinout is commercialising a robotic-assisted insertion technology to enable a more precise insertion of cochlear implants and is developing an implantable system that will enable post-surgical adjustment of the implants.
The money will go towards research and development activities as well as quality and regulatory work.
Marlan Hansen, co-founder of IotaMotion, said: “The core technology being developed at IotaMotion is notable in its simplified approach to robotic-assisted systems.
“Our aim is to develop devices that open up access to cochlear implant surgery for a wider audience of both surgeons and patients. We are especially grateful for the local and regional support that we received early on from the University of Iowa, and the state, to help us get to this point.”
