iotaMotion is a medical technology company based in St. Paul, MN, focused on advancing cochlear implantation with robotic-assisted solutions. Its flagship product, the iotaSOFT® Insertion System, provides controlled electrode array insertion intended to reduce intracochlear trauma compared with manual insertions. After its first full year of commercialization the system is installed at 25 U.S. centers, including use in ten neurotology fellowship programs. Some centers using the technology have demonstrated 20% year-over-year cochlear implant program growth versus a 7% market average. The company plans to use recently secured Series B funding to scale commercial operations and continue product innovation in 2025. The Series B round also accompanied an expansion of the board with the addition of Jeff Hopkins, a medical-technology leader with 30 years of experience. iotaMotion develops advanced robotic-assisted technologies for cochlear implant surgery, including the iotaSOFT® Insertion System. Led by CEO Mike Lobinsky, the company aims to standardize cochlear implant electrode array insertion and provide greater control in surgical settings. The firm intends to use its recent financing to accelerate commercial expansion of the iotaSOFT Insertion System. iotaMotion describes its products as advancing cochlear implant surgery beyond human capability with the goal of expanding access for surgeons and patients. The company is also expanding its Scientific Advisory Board with additions including Bruce Gantz, MD; Professor Thomas Lenarz, MD, PhD; and Camille Dunn, PhD to support continued product innovation. iotaMotion is a medical device startup spun out from the University of Iowa’s Otolaryngology Department that is developing iotaSOFT, a robotic-assisted insertion device for cochlear implant electrodes. Led by President and co-founder Chris Kaufmann, MD, the device is intended to allow surgeons to advance electrodes with the control and precision of robotics. The company completed an iotaSOFT human-factors usability study in July with participation from cochlear implant surgeons in a simulated-use clinical environment. iotaMotion raised an additional $2.52M in a second funding round and said the backers remained undisclosed. It intends to use the funds for ongoing development and commercialization of iotaSOFT and is focused on achieving development and regulatory milestones. Completion of the usability study was described as a significant milestone on the path toward FDA submission of the technology. iotaMotion is developing robotic-assisted systems to improve cochlear implant surgery, with its lead product IOTA-Soft™ enabling controlled, precise electrode insertion. The company plans to use recent funding to accelerate development of these novel robotic systems. IOTA-Soft™ is designed to reduce surgical variability and help protect inner-ear structures during insertion. iotaMotion was spun out of the University of Iowa’s Otolaryngology Department and aims to deliver individualized solutions for patients with hearing loss. The company has also been awarded NSF and NIH SBIR grants totaling $1.7M, which support its development work.

Total raised

$17M

Funding rounds

4

Latest round

Series A

Latest activity

Jul 2023