Halifax-based Spring Loaded Technology, which develops a company bionic knee brace, has secured $1.9M in seed round funding from Build Ventures. The company also snagged a military contract with the Canadian Department of National Defense worth $1 million.
The company’s main offering is its Levitation knee brace, which is able to store kinetic energy in a compact and powerful spring as the user bends their knee; it returns that energy in a customizable way as the user straightens their leg.
“We wanted to create a powerful spring loaded knee brace that was affordable and could benefit everyone,” said CEO and scientist Chris Cowper-Smith. “Through years of research, we developed a new type of liquid spring that allowed us to keep our brace light, powerful, and compact, but also remain affordable.”
Chris and his partner Bob Garrish, CTO, have led the Spring Loaded Technology team for the past three years to develop the bionic technology behind Levitation. The company notes that people with knee injury or movement disability will find the technology helpful for everyday life, while athletes can enjoy the benefits of heightened endurance and injury prevention.
Spring Loaded Technology is currently running an Indiegogo campaign, where backers of Levitation will receive products by June 2016.
“Spring Loaded Technology has the potential to revolutionize the marketplace,” said Rob Barbara of Build Ventures. “The affordable technology they’ve developed will make bionics more accessible. We’re excited to see this company continue to develop its offerings and impact the industry.”
