Cionic, Inc.

Cionic, Inc. develops innovative mobility solutions, including the Cionic Neural Sleeve™, which assists individuals with mobility impairments through advanced sensor technology and personalized stimulation. Founded in 2018 in San Francisco, US, Cionic, Inc. specializes in creating mobility-enhancing devices.

The company, under the leadership of CEO and founder Jeremiah Robison, has closed 3 deals to date. Their most recent funding round, a Series A in September 2023, raised USD 12. 00 mn, bringing the total amount raised to USD 12. 00 mn and evaluating the company at USD 58.

30 mn. Notable investors in this round included L Catterton, Enable Ventures, and Transformational Healthcare Venture Capital. CIONIC specializes in the development of the Cionic Neural Sleeve™, a pioneering form of bionic clothing designed to assist individuals with mobility impairments. This innovative product integrates sophisticated sensors that continuously monitor real-time movement to evaluate muscle activation and limb positioning.

The Neural Sleeve provides personalized functional electrical stimulation that is synchronized with the user's gait cycle, enhancing mobility and enabling activities of daily living. CIONIC targets a diverse client base, including individuals suffering from conditions such as foot drop, as well as healthcare providers who seek advanced mobility solutions for their patients. The technology is currently marketed in North America and Europe, aiming to improve the quality of life for users by promoting greater independence and confidence in movement. CIONIC's revenue model revolves around direct sales of the Cionic Neural Sleeve™ to end users, as well as potential partnerships with healthcare providers and institutions.

Transactions are facilitated through the CIONIC application, which allows users to customize their mobility treatment plans and track their progress. The company may offer subscription-based services for ongoing access to app features or support, thereby ensuring continual engagement with users. Additionally, CIONIC may collaborate with healthcare professionals to prescribe the Neural Sleeve, creating a network that can support patient referrals. The structure emphasizes a direct-to-consumer approach, enhancing accessibility and fostering a relationship with users who benefit from personalized mobility solutions.

In September 2023, Cionic, Inc. raised USD 12 million in Series A funding led by L Catterton, with participation from Enable Ventures and Transformational Healthcare Venture Capital. The company plans to utilize this funding to support the growth and development of its pipeline. Cionic is focusing on upcoming product enhancements and new versions of the Cionic Neural Sleeve™, with plans to expand into markets in Asia and Latin America by the end of 2024, aiming to reach a broader audience in need of mobility assistance.