FitBionic, Boulder, Colorado, has announced the completion of a $2.2 million funding round with a team led by KMG Capital Partners, Denver, Colorado; High Country Venture, Boulder; and the nonprofit Colorado Institute for Drug, Device and Diagnostic Development (CID4), Aurora, Colorado. The investment was developed in support of the global launch of the company’s FitBionic Foot, and as a bridge to its Series A financing, which is expected in 2014.
Through this investment, KMG partners Kerry Hicks and Javier Vergne-Morell, High Country Venture partner Mark Lupa, and Kevin M. Smith, president and CEO of CID4, will join FitBionic’s board of directors. FitBionic’s founder and executive management will retain significant equity interests in the company, as well as board representation.
