Myomo Raises $5M to Fund Innovation, Growth

Myomo, Cambridge, Massachusetts, has announced the closing of its Series B-1 preferred share offering, which raised $5 million. Mountain Group Capital, Nashville, a venture firm focused on medical devices and technology investments, was the lead investor. The additional funding will be used as working capital as well as to support investments in sales and marketing, new product development, and expanded clinical studies of the company’s MyoPro powered orthosis, according to the announcement.