Wearable robotics maker Biomotum was the big winner for the inaugural Angel Oregon Life & Biosciences investment event that was organized by the Oregon Entrepreneurs Network.
The Portland startup secured the $300,000 investment from the event.
Biomotum makes robotics designed to help people, particularly children with cerebral palsy, to walk. The company’s technology is in the form of an exoskeleton that helps people with everyday mobility as well as rehabilitation.
“We are honored to receive this support from AOBio. It will help us to accelerate delivery of our life-changing wearable robots to individuals who have difficulty walking. I am really impressed by the depth of innovation and entrepreneurship here in Oregon, as well as the efforts by OEN and the local bioscience community to build a thriving ecosystem to support these ventures,” said Biomotum’s co-founder and CEO Ray Browning in a written statement.
Four companies made the finals for AOBio and made public presentations before about 150 event attendees. The other three startups were:
- Inherent Targeting, which is developing fluorescent imaging agents used in surgery to highlight nerves and improve outcomes.
- Savorease Therapeutic Foods, which developed crunchy finger foods that can be eaten by people who have trouble swallowing or chewing.
- StoneStable, which developed a process to coat vaccines in silica and increase stability for transportation and storage.
As part of the event an AOBio investment vehicle was created. Backers included 25 local investors, the Oregon Growth Fund and Oregon Community Foundation. Each company went through due diligence and the investors selected the winner in a private vote before the event.
The four-month program included education and mentorship as well for each company.
The event also featured an Emerging Initiative Award for a more early stage company. The 2022 award went to High Peak Medical Systems which is working to eliminate false positive blood cultures. Founder Jeremy Hammer received $5,000 in non-dilutive capital from Portland investment fund Black Founders Matter and award sponsor Columbia Bank.
AOBio is one of several Angel Oregon events put on by OEN. Each event focuses on a different slice of the entrepreneurial ecosystem. AOBio is life and biosciences, Oregon Angel Food is food and beverage startups and Angel Oregon Tech, is investment-ready tech startups.
This year Angel Oregon Tech will be a pitch competition presented as the June OEN PubTalk event June 8.
Oregon Angel Food, called Oregon AF, will host its finale marketplace Sept. 15.
