Tibion Bionic Technologies
AlterG | Anti-Gravity Treadmill | Bionic Leg
About Tibion Bionic Technologies
Founded in 2002 by Robert Horst and Kern Bhugra, Tibion Bionic Technologies operated in the therapeutic devices market with a focus on creating bionic solutions for mobility-impaired individuals. The inspiration for the company came from founder Robert Horst's personal experience with knee surgery in high school, which highlighted the need for technological advancements beyond traditional crutches and canes. With a background in electrical and computer engineering, including pioneering contributions in fault-tolerant systems, Horst applied his expertise to develop the company's core product.
Tibion's flagship product was the Tibion Bionic Leg, a wearable, battery-powered robotic mobility assistance device designed for rehabilitation. It was not a permanent prosthesis but a therapeutic tool used by clinicians to help patients with lower extremity dysfunction regain strength, improve gait, and enhance motor learning. The device functioned by detecting a patient's intention to move via a foot sensor that registered weight shifts. When the patient intended to stand, walk, or climb stairs, the Bionic Leg provided powered assistance to extend the leg. Conversely, it applied resistance for controlled movements like sitting down or descending stairs. This active participation by the patient was designed to leverage neuroplasticity, the brain's ability to form new neural connections, to help restore function after events like a stroke.
The company's business model centered on selling the Bionic Leg to physical therapy facilities, hospitals, and skilled nursing facilities. By late 2012, over 100 units were in use worldwide. Tibion also offered an "Access Plan," a monthly subscription model that allowed clinics to use the latest technology without a large capital investment. The company secured at least $16.7 million in funding from investors including Claremont Creek Ventures, Three Arch Partners, and Tekla Capital Management. In June 2013, Tibion Bionic Technologies was acquired by AlterG, a company specializing in rehabilitation technologies like the Anti-Gravity Treadmill, to expand the production and global availability of the Bionic Leg. Following the acquisition, Robert Horst became AlterG's Chief Technology Officer of Robotics.
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Funding history
Company financing events and reported valuations.
| Deal type | Date | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| ACQUISITIONOther financing | Jun 2013 | $0 | — | AlterG | — |
| DEBTDebt | Jul 2012 | $1.7M | — | Undisclosed | — |
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Series A5 investors entered at this stage
Claremont Creek Ventures (CCV)- SVSaratoga Ventures
- CVClaremont Creek Ventures
Hambrecht & Quist Capital Management
Three Arch Partners
Other known investors1 additional known investor
AlterG
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