MicroTransponder, an Austin, Texas-based medical device company, raised $53 million in Series E funding.
Backers included US Venture Partners, GPG Ventures, Exceller Hunt Ventures, Osage University Partners, Action Potential Venture Capital and The Vertical Group. As part of the investment, Casey Tansey of USVP and Bill Harrington of Osage University Partners will join the board.
The company intends to use the funds to commercialize the Vivistime Paired VNS System and establish it as the recommended rehabilitation intervention for stroke survivors striving to improve their quality of life through greater hand and arm mobility.
Led by CEO Richard Foust, MicroTransponder is a global medical device company committed to the development of research-based neuroscience solutions. The company focuses on restoring the autonomy and dignity of people suffering from neurological diseases that impair sensory and motor functions. MicroTransponder’s FDA cleared Vivistim Paired VNS System is a clinically proven medical technology designed to improve the daily lives of people with neurological conditions that impair sensory and motor function.