Motivo Completes Series A Funding
Company reaches $4.8 million goal to develop and scale in-house manufacturing of its unique walkers.
- By David Kopf
- Jun 07, 2018
Walker manufacturer Motivo Inc. has completed a $950,000 Series A round of financing led by local Wisconsin-based investor and former CEO of Mortara Instrument, Justin Mortara.
The latest investment brings Motivo’s total funding to $4.8 million, derived primarily from individual investors, as well as Wisconsin Economic Development Corporation and Milwaukee Economic Development Corporation business development loans.
Motivo co-founder Jeremy Knopow said the funding will help the company scale up its in-house manufacturing, as well as support the national launch of its 2018 Motivo Tour Walker. The Tour, which won a 2014 HME Business New Product of the Year award, takes a different approach to walkers by having the users walk upright, inside the walker, rather than following behind.
“With this Series A complete, our team has been able to scale up manufacturing with new equipment, hire new employees and has allowed us to solidify our go-to-market strategy for the national launch of the new 2018 Tour this summer,” he said.
“The Tour is a solution to a real issue that impacts so many, and I’m pleased to lend my support to assist in developing the scale and reach this solution deserves,” investor Mortara added.
David Kopf is the Executive Editor of HME Business and DME Pharmacy magazine. Follow him on Twitter at @postacutenews.