London-based startup Koalaa, known for its innovative soft prosthetic arms, has closed a $1.2 million funding round (£925,000). This investment, led by existing investor British Design Fund and including £200,000 from Imperial College Enterprise Fund II, will be utilised for the company’s international expansion and product development.
Back in 2022, Adapttech closed a £2.25M funding round for its smart prosthetic limb technology to help people with physical limitations. Likewise, last year, yet another startup with a mind-reading tech received £500K Innovate UK grants. This shows how the tech, the startups and the investors are really helping the minority community is a big way.
What does the startup do
Koalaa, founded in 2020 by Imperial alumnus Nate Macabuag, aims to address three key challenges faced by the global limb difference community: access, affordability, and comfort. Unlike traditional rigid prosthetics, this company’s solutions are made from breathable fabric, resulting in a snug and lightweight fit suitable even for young children. This also allows for cost-effective global shipment compared to heavier alternatives.
Their prosthetics boast interchangeable tools designed based on user feedback, enabling them to tackle various tasks. Additionally, new users are paired with “limb buddies” for ongoing support. With global reach, including developing and war-torn regions, Koalaa has developed the first-ever “early rehab” prosthetic arm usable just hours after surgery.
The new funding will support ongoing product development, team expansion both in the UK and overseas, and collaboration with clinicians and NGOs internationally. This includes increasing prosthetic supply to conflict zones.
Founder’s vision and plan
“I’m incredibly grateful to our investors for their continued support,” expressed Nate Macabuag, company’s founder. “Starting as a university idea, Koalaa has grown into a company employing 18 people, with nearly 1,000 users worldwide.” He emphasised the company’s unique position and global aspirations: “As the world leader in soft prosthetic arms for children in the UK, we see massive potential to support adults as well. Ultimately, we hope to make our products available through the NHS.”
How are investors thinking about Koalaa
Damon Bonser, CEO of British Design Fund, highlighted the company’s user-centric approach: “The team’s focus on end-users and their feedback is truly impressive. Koalaa’s solutions address key challenges with traditional prosthetics, and their global user base growth has been remarkable.”
Brijesh Roy, Head of Startup Investment Funds at Imperial College London, echoed the sentiment: “Nate and his team exemplify the innovative startups emerging from Imperial College. Koalaa’s soft prosthetics address an unmet need, and this investment fuels their global impact.”
What products does Koalaa offer and their availability
The startup currently offers four main prosthetic types:
ALX: For below-elbow limb differences
Paww: For partial hands and fingers
Joeyy: For babies and infants
Day One: For immediate use after amputation
Prosthetics are available for purchase online and shipped internationally. In the UK, Project Limitless, a charitable initiative, provides free Koalaa prosthetics to children under 18.
What we think about Koalaa
Koalaa’s innovative approach and recent funding round position the company to significantly impact the lives of individuals with limb differences worldwide. Their focus on affordability, accessibility, and comfort, coupled with their user-centric design and adaptability, paves the way for a more inclusive future.
