Axiles Bionics, a Belgian medtech company, has raised €6 million (US$6.42 million) in the first tranche of its €8 million (US$9.28 million) series A funding round.

The financing was led by PE Group, with participation from the EIC Fund, Finance&Invest.brussels, and private investors.

The funding will support the international rollout of Lunaris, a robotic prosthetic foot that has received CE marking and FDA clearance.

It will also accelerate the development of the company’s next-generation bionic devices.

Additional funding to complete the €8 million (US$9.28 million) round is anticipated in a second closing, pending final agreements.

Founded in 2019 as a spin-off from the Vrije Universiteit Brussel, Axiles Bionics focuses on robotics, AI, and human biomechanics.

The company aims to improve mobility solutions for people with limb loss and expand its presence in global markets.

🔗 Source: Axiles Bionics

🧠 Food for thought

1️⃣ Prosthetics market growth signals strategic timing for Axiles’ expansion

Axiles Bionics’ €6 million funding comes amid significant growth projections for the bionic prosthetics market, which is expected to increase from $1.79 billion in 2025 to $3.34 billion by 2032, representing a 9.3% CAGR 1.

The company is positioning itself in a sector driven by rising amputation rates worldwide, with the U.S. alone having approximately 1.6 million amputees, a figure projected to double by 2050 due to increasing diabetes cases and trauma incidents 2.

Securing both CE marking and FDA clearance for Lunaris gives Axiles a competitive advantage in this expanding market, especially as patients increasingly seek advanced options beyond traditional prosthetics.

The funding’s focus on international commercialization aligns with industry research showing growing demand for functional prosthetics across global markets, particularly as insurance coverage improves accessibility 3.

2️⃣ Biomimetic technology addresses persistent adoption challenges

Axiles’ emphasis on creating intuitive, natural movement directly tackles one of the industry’s biggest problems: high abandonment rates of prosthetic devices due to discomfort and limited functionality 2.