BionIT Labs has secured a €5.5 million investment round to enhance its prosthetic offerings and accelerate expansion into the U.S. market.

Information on the Target

BionIT Labs is a Salento-based medtech company specializing in the development of multi-articulated hand prosthetics. Recently, it concluded a €5.5 million investment round involving several funds, including CDP Venture Capital Sgr, RIF Srl, Sefea Impact Sgr, SIMEST SpA through the Venture Capital Fund, and the ENEA Tech and Biomedical Foundation. This recent funding brings BionIT Labs' total capital raised since its founding in 2018 to over €12 million.

The primary goal of this funding round is to facilitate BionIT Labs’ expansion into the U.S. market, which constitutes more than 50% of the global prosthetic market. Additionally, the company aims to diversify its product offering to cater to the varying needs of patients worldwide and to enlarge its team to support the necessary growth for global positioning.

Industry Overview in the Target's Specific Country

The prosthetics industry is witnessing significant growth, particularly in the United States, driven by advancements in materials and technology. The proliferation of robotics and artificial intelligence has tremendously enhanced the fun