Harmonic Bionics is redefining neurorehabilitation with intelligent robotic technology designed to maximize patient recovery. The company just closed a $7M preferred stock round.
The company first applied to the SWAN Impact Network in early 2019, and at that time our network felt that the company was not yet ready for their initial funding. And as is our standard practice, SWAN gave the CEO feedback on their application, sharing what we believed to be their strengths and also identifying our concerns. Harmonic Bionics reapplied later in 2019, with a plan that addressed our concerns and SWAN was a major participant in their initial financing, a convertible debt round.
Many of SWAN’s portfolio companies have applied more than once to SWAN and upon reapplication have been funded by our network. Our goal is to be helpful to company applicants who are trying to help the world, and let them know what can make them fundable.
Based upon the conversion of our note in the latest funding round, the valuation of our holding has increased by a factor of 1.9.