COLUMBIA, Md., (November 12, 2024) — TEDCO, Maryland’s economic engine for technology companies, announced a recent $200,000 Seed Funds investment in NextStep Robotics. TEDCO’s Seed Funds aim to reach prospective businesses showing potential of being venture fundable or other forms of corporate venture, such as follow-on funding.
“Foot drop is a disability that results from underlying neurological or muscular injuries and affects millions of Americans each year,” said Bradley Hennessie, CEO of NextStep Robotics. “With traditional treatments, patients were left with uncomfortable orthotics or assistive devices. However, with this latest investment from TEDCO, we are excited to continue moving forward to provide more appealing solutions and support patients and physical therapists alike.”
NextStep Robotics, located in Baltimore, Md., seeks to combine robotics and information technology to provide movement-based therapy that will help alleviate foot drop. Through their signature device, AMBLE, users are provided with a semi-autonomous trainer that works to help restore the patient’s natural gait.
“NextStep’s commitment to supporting patients and physical therapists is admirable, and their innovative solution is an excellent example of the kind companies we look to invest in through our Seed Funding,” said Teddy Gresser, director of Seed Funds at TEDCO.
NextStep Robotics previously received funding from TEDCO’s Maryland Innovation Initiative (MII)’s Company Formation Award and Seed Funds.
Seed Funds through TEDCO are essential for businesses with the potential to grow their sustainability through customer revenue or other corporate ventures. For further information regarding TEDCO Seed Funds, please visit https://www.tedcomd.com/funding/seed-funds.
About TEDCO
TEDCO, the Maryland Technology Development Corporation, enhances economic empowerment growth through the fostering of an inclusive entrepreneurial innovation ecosystem. TEDCO identifies, invests in, and helps grow technology and life science-based companies in Maryland. Learn more at www.tedcomd.com.
Media Contact
Tammi Thomas, Chief Development & Marketing Officer, TEDCO, tthomas@tedcomd.com