Argo Medical Technologies Ltd. has raised $7 million. The company develops walk restoration devices.
All of Argo's shareholders participated in the round, alongside new ones, according to ProSeed Venture Capital Fund (TASE:PRSD), which owns 6% of the company. Argo lists ProSeed, Vitalife Life Sciences Venture, Technion R&D Foundation, and US fund SCP Vitalife as its investors.
Argo's ReWalk device is a powered exoskeleton frame comprising a light brace support suit with an array of motion sensors, a computer system based on control and safety algorithms, and tailored rechargeable batteries. The device enables people with lower limb disabilities to stand, walk, ascend, and descend stairs.
The ReWalk has won extensive media coverage in the US and made an appearance on the popular TV show "Glee".
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