MicroTransponder, an Austin, TX-based medical device company, raised $53M 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 of directors.
The company intends to use the funds to commercialize the Vivistim Paired VNS System and establish it as the recommended rehabilitation intervention for stroke survivors working to improve their quality of life through more hand and arm mobility.
Led by CEO Richard Foust, MicroTransponder is a global medical device company committed to developing research-based neuroscience solutions. The company focuses on restoring independence and dignity for people suffering from neurological conditions that impair sensory and motor function. MicroTransponder’s FDA-approved Vivistim Paired VNS System is a clinically proven medical technology designed to enhance daily living for people suffering from neurological conditions that impair sensory and motor function.