Argo Medical Technologies of the ProSeed group has raised $3.1m in an internal round. The company promises to give mobility to paraplegics with its ReWalk product.
The participants in the round, besides ProSeed, were TechnionSeed (formerly the Technion Incubator) and the Vitalife fund.
Argo’s ReWalk enables wheelchair users with disabilities in their lower limbs to stand and walk. It consists of a system that moves the legs in accordance with information received from movements of the upper body. The device is worn like an exoskeleton and maneuvered with crutches, so that the result is similar to walking with crutches. ReWalk is reaching the end of the trials stage and the company believes it will be ready for use in 2010.
Argo was founded by Amit Goffer, who was among the founders of Odin Medical Technologies, which was sold to Medtronic. Like those for whom Argo’s technology is intended, Goffer is paralyzed in the lower half of his body, following an accident.
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