Halifax-based Spring Loaded Technology announced the official launch of its Levitation bionic knee brace.
At the same time, the Canadian government also announced a $2.46 million investment in the company through the Atlantic Canada Opportunities Agency’s Atlantic Innovation Fund.
“With the support of ACOA, combined with our research and development efforts and leading-edge product development, it’s a game changer. We’re proud to be able to put the world’s first and only compact, bionic knee brace into the hands of consumers on a large scale,” said COO Dawn Umlah.
The company plans to use the funding to enter “real-time production.”
Spring Loaded Technology’s knee brace stores kinetic energy in a compact and powerful spring; as users bends their knee, it returns that energy in a customizable way as the user straightens their leg. CEO Chris Cowper-Smith and CTO Bob Garrish developed the technology for people with knee injuries and movement disabilities, though the team also notes that athletes and manual labourers can also benefit from the knee brace.
The company raised $1.9 million and received a contract with Canadian National Defense. Spring Loaded Technology also raised $279,000 from a crowdfunding campaign.
“The team at Spring Loaded Technology is transforming the versatility of assistive devices,” said
Darren Fisher, MP for Dartmouth-Cole Harbour. “They represent a broader life sciences community working on research that brings solutions to the marketplace. Targeted investments such as these are helping us grow beyond our borders in line with our Atlantic Growth Strategy.”
