Ukrainian Prosthetic Producer Raises $5 Million in Investment to Build World’s First Bionic Ecosystem

Esper Bionics, a company at the forefront of human augmentation technology, has secured $5 million in funding to develop the world’s first bionic ecosystem. This investment round was led by YZR Capital, with co-financing from the European Bank for Reconstruction and Development (EBRD) and U.Ventures.

The company’s flagship product, the Esper Hand, has garnered significant recognition, including Time magazine’s Best Innovations of 2022 and the Red Dot 'Best of the Best' and CES Innovation Awards.

With manufacturing facilities in Kyiv, they developed a self-learning bionic prosthesis, which utilizes digital signal processing, artificial intelligence, and machine learning (ML) technologies. It learns user behavior, predicts the movements and changes grips intuitively.

According to the National Library of Medicine, an estimated 50 million individuals have limb amputations, and 140 million live with paralysis, as stated in the data collected by the Christopher & Dana Reeve Foundation. Many struggle to find prosthetics that are functional, easy to use, and visually appealing.

Studies have shown limitations in current prosthetic technology. Switching between functions with traditional controls can be challenging, and some multi-functional prosthetics are not very durable. The lack of smooth interaction between software and hardware in existing prosthetics is another area of concern.

The company has already donated over 80 bionic hands to Ukrainian war veterans who have lost limbs in the war. The ongoing war has resulted in a growing number of amputations, with over 50,000 individuals already affected.

The injection of capital will fuel Esper Bionics' further research and development efforts while accelerating the company’s growth.

The company plans to develop and integrate new devices into the ecosystem, including additional prosthetics, wearable controllers, and a powerful cloud-based ML platform. This ecosystem aims to provide users with a holistic and adaptable solution for enhanced functionality.

“Our users are our inspiration to innovate and excel. We have received exceptional feedback from them, and we are committed to making the Esper Hand even more dexterous, ensuring it reaches everyone in need. By enhancing manufacturing, developing new types of sensors, and helping more people, we are getting closer to pushing the boundaries of human potential,” — Dima Gazda, co-founder & CEO at Esper Bionics.

Earlier, in May 2024, Secretary of State Antony J. Blinken announced the United States Agency for International Development (USAID) grant to Esper Bionics, during his visit to Kyiv.

This shows a positive trend in Ukrainian tech and innovation sectors, inviting more international capital and recognition to Ukrainian-developed projects.