iotaMotion Grows Install Base to 25 Centers and Secures Series B Funding to Accelerate Expansion in 2025

ST. PAUL, Minn., Jan. 28, 2025 /PRNewswire/ -- iotaMotion, Inc., a leader in developing advanced robotic-assisted systems for cochlear implant surgery, announced a major milestone in its mission to advance cochlear implant surgery beyond human capability. Following the first full year of commercialization, there are 25 centers across the United States now offering the iotaSOFT® Insertion System.

As the first and only robotic-assisted system available in the United States for cochlear implantation, iotaMotion is developing a market for the technology among surgeons and patients. Validated by a rapid utilization increase and expanding center access, including ten neurotology fellowship programs offering the technology, there is a clear need for the iotaSOFT Insertion System.

The advanced technology is designed to provide a controlled electrode array insertion during cochlear implant procedures, resulting in less trauma to the cochlea when compared to manual insertions.

"We are incredibly proud of the impact the iotaSOFT Insertion System has had on the cochlear implant market," said Mike Lobinsky, President & CEO of iotaMotion. "Creating a market for robotic assistance and then subsequently generating demand for the technology has resulted in some of our centers demonstrating a 20% increase year over year cochlear implant program growth compared to the market average of 7%."

Looking forward to 2025, iotaMotion is well-positioned to continue the momentum of commercial expansion. With Series B funding secured, iotaMotion will use the growth capital to scale commercial operations while driving further innovations in the field of cochlear implantation. The Series B raise also came with an expansion of our Board of Directors with the welcome addition of Jeff Hopkins. Hopkins, a seasoned leader with 30 years of experience in medical technology, has a proven track record of driving strategic growth and creating value for patients and healthcare providers. Notably, he led JNJ's Acclarent ENT business through a successful turnaround and expansion into the otology and cranial navigation guidance markets.

"I am excited to take an active role on the board of iotaMotion as they disrupt the cochlear implant industry," said Hopkins. "The technology is impactful for patients with advanced hearing loss and will broaden adoption of neurotology treatments."

"The completion of our Series B round and addition of Jeff Hopkins to our board, coming on the heels of an exceptional first full year of commercialization, underscores the market's confidence in our technology," said Lobinsky. "2025 will be a year marked by rapid commercial growth and continued success in building a robotic-assisted market for cochlear implantation."

About iotaMotion

iotaMotion, Inc. is a medical technology company based in St. Paul, MN, dedicated to advancing the outcomes of cochlear implantation through innovative, robotic-assisted solutions. The company's flagship product, the iotaSOFT® Insertion System, offers a groundbreaking approach to cochlear implant surgery by providing enhanced control beyond the capability of a human hand during electrode array insertion. iotaMotion aims to provide hearing professionals with tools to improve patient outcomes and preserve intracochlear structures.

For more information, visit www.iotamotion.com or contact Wade Colburn, Vice President of Marketing and Clinical at [email protected].

SOURCE iotaMotion, Inc.