The European Bank for Reconstruction and Development (EBRD) completed a USD $2.5 million equity investment in Esper, a company producing bionic upper-limb prostheses. The investment will be used to finance Esper’s expansion of production facilities in Ukraine, including development of new products and software.
The project’s core objective is to address multiple challenges facing Ukraine by supporting innovative research and development and manufacture of upper-limb bionic prosthetic devices with data-driven functionalities.
EBRD’s engagement will also increase the supply of prosthetic devices designed to meet the needs of women and include technical support for partnerships with universities and vocational schools in Ukraine to upgrade study programs for physical rehabilitation and long-term amputee care though curriculum development as well as to disseminate and maintain the company’s products.
“The EBRD financing is provided under extraordinary circumstances stemming from Russia’s war on Ukraine, offering a direct equity investment that effectively bridges a financing gap due to adverse market conditions,” the bank said. EBRD said its participation provides additional comfort for international investors to co-finance the project.
