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ONWARD Medical

Biotech & Life Sciences · Eindhoven, Netherlands · Founded 2014 · IPO 2021

Neurotechnology enabling recovery after spinal cord injury MoreLess

ONWARD is a pioneering startup that operates in the medical technology sector, specifically focusing on spinal cord injury therapies. The company is comprised of a multidisciplinary team of scientists, engineers, and physicians, all united by a common goal: to develop innovative therapies that can significantly improve the lives of people living with spinal cord injuries.

ONWARD's flagship product is the ARC Therapy, a groundbreaking technology that uses targeted, programmed stimulation of the spinal cord to restore movement in individuals with spinal cord injuries. This investigational device, which is not yet available for commercial use, has shown potential benefits beyond restoring movement, including improved bladder control, sexual function, and blood pressure regulation.

The company's business model is based on the development and eventual commercialization of its proprietary ARC Therapy. It generates revenue through the licensing of its intellectual property, developed in partnership with leading global neuroscience research institutions such as the Swiss Federal Institute of Technology, Lausanne University Hospital, the University of Louisville, and Caltech.

ONWARD's target market includes individuals with spinal cord injuries, as well as healthcare providers and institutions that treat these patients. The company's long-term financial prospects are promising, given the significant unmet need for effective therapies in this area and the potential for its technology to revolutionize the treatment of spinal cord injuries.

Keywords: Medical Technology, Spinal Cord Injury, ARC Therapy, Intellectual Property, Licensing, Healthcare Providers, Neuroscience Research, Treatment Revolution, Neuroprosthesis, Locomotor Deficits.

Valuation $118M
Revenue $13M
Total funding $50–100M

Company overview

ONWARD Medical company information

The essential company record, classifications and operating signals in one place.

Status
Operational
Founded
2014
Headquarters
Eindhoven, Netherlands
Employees
205
Open positions
5
Dealroom signal
84.5
client focusb2btechnologyHardwaretechnologyDeep TechtechnologyConnected Devicesub industryBioTechnologysub industryMedical Devicesbusiness modelManufacturingsectorRehabilitationindustryHealthsectorDeveloper ToolssectorBiotechnologysectorNeurologysectorNeuromodulation and NeurostimulationsectorSpinout

Valuation & funding

ONWARD Medical funding history

Company financing events and reported valuations.

Deal typeDateAmountValuationInvestorsSource
PRIVATE PLACEMENT NON VCOther financing Apr 2026 $45M EQT Life Sciences
PRIVATE PLACEMENT NON VCOther financing Oct 2025 $58M Ottobock
PRIVATE PLACEMENT NON VCOther financing Oct 2024 $55M Ottobock
GRANTOther financing Sep 2024 $1.1M Reeve Foundation
POST IPO DEBTDebt Jul 2024 $57M Runway Growth Capital
PRIVATE PLACEMENT VCEquity / VC Mar 2024 Undisclosed
GRANTOther financing Jun 2022 European Commission
IPOExit Oct 2021 Undisclosed
EARLY VCEquity / VC Apr 2021 Verve Ventures · Invest-NL · Wellington Partners · Inkef
GRANTOther financing Apr 2019 Undisclosed
Showing 10 recorded eventsUnlock the complete deal history →

Financials

Revenue, earnings and profit over time

Reported history and available estimates. Estimated years are marked “E”; sparse fields are left blank rather than inferred.

YearRevenueGrowthEBITDAMarginProfitMarginR&D
2026 $13M +222.5% −$55M -409.7% −$57M -427.8% $14M
2025 $4.2M +4809.1% −$42M -1002.1% −$46M -1105.5% $14M
2024 $85K +13.2% −$36M -42624.7% −$39M -46396.1% $14M
2023 $75K -34.6% −$37M -49958.8% $15M
2022 $114K -92.6% −$34M -30084.6%
2021 $1.5M +195.1% −$31M -2024.2%
2020 $521K −$17M -3226.4%
Company filings, research estimates and Dealroom dataOpen the full financial model →

Growth signals

ONWARD Medical website traffic

Latest recorded traffic for ONWARD Medical is 25K monthly website visits, up 19% over the last three months. ONWARD Medical's team grew 6.8% over the past year.

Latest monthly visits25K 3-month web change+19% 1-year team growth+6.8%
Monthly website visits132 observations · Jun 2015–Jul 2026
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Comparisons

ONWARD Medical compared with similar companies

Dealroom’s weighted taxonomy model identifies the closest operating peers. Company identity and context stay open; selected comparison metrics preview what is available in the platform.

Showing 8 of the closest matchesCompare every metric →

Talent graph

ONWARD Medical's talent

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Team profiled 32 named & role-tagged
Founders Hidden — book a demo/100 quality score
Key operators 7 quality Hidden — book a demo/100
Potential founders Hidden — book a demo likely future founders
Startup mafia Hidden — book a demo alumni-founded startups
Talent movements Hidden — book a demo in · Hidden — book a demo out past 12 months

Source: Dealroom Talent Intelligence.

Investors

19 investors on ONWARD Medical's cap table

Sourced from Dealroom's funding and investor records. Investor profile links are shown where available.

Seed 4 investors entered at this stage
Fondation FIT
MassChallenge
European Commission
Reeve Foundation
Series A 7 investors entered at this stage
Inkef
EQT Life Sciences
Wellington Partners
Gimv
Verve Ventures
Invest-NL
Olympic Investments
Series B+ 2 investors entered at this stage
Netherlands Enterprise Agency (RVO)
Runway Growth Capital
Other known 6 additional known investors
Ottobock
EPFL Swiss Federal Polytechnic School of Lausanne
b2venture
European Innovation Council
Venture Kick
VentureLab

Global footprint

Where ONWARD Medical has talent and traffic

Workforce by country
10 countries with
team presence
🇨🇭 Switzerland62.9%
🇺🇸 United States23.8%
🇳🇱 Netherlands6.3%
🇫🇷 France2.1%
🇧🇪 Belgium1.4%
Top 5 of 10 shown

In the news

Latest news about ONWARD Medical

Recent press, funding announcements, and product moves mentioning ONWARD Medical — open to read from the original sources.

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Market sentiment

What the market is saying about ONWARD Medical

An AI-synthesized read of the highest-engagement posts about ONWARD Medical on X over the past 7 days. We rank by likes & retweets, ignore corporate channels, and surface the themes that broke out from real people.

Reading the room on X — pulling top posts and synthesizing themes…

Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour

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