Axiles Bionics closes first €6M of its €8M Series A round to globalise its biomimetic prosthetic foot

Brussels-based Axiles Bionics, a deeptech and medtech spin-off from Brubotics at the Vrije Universiteit Brussel (VUB), has closed the first €6M tranche of its €8M Series A financing round. 

The round was led and structured by PE Group, with support from the EIC Fund, Finance&Invest.brussels, private investors, entrepreneurs, and the company’s management team.

Capital utilisation

The funding will facilitate the international expansion of Lunaris, which the company asserts is the most advanced biomimetic prosthetic foot. Lunaris combines mechanical adaptability with embedded systems and is currently in use in clinical settings across multiple countries. 

The funding will also advance the company’s development of future bionic devices. Axiles Bionics has received ongoing support from Innoviris, the Brussels public agency for research and innovation.

Stefan Yee, founder and CEO of PE Group, says, “Axiles Bionics is setting a new benchmark in robotic prosthetics. With Lunaris already demonstrating clinical, regulatory and initial commercial success, and a disruptive bionic technology on the horizon, Axiles is well-positioned to scale globally and transform the quality of life for amputees worldwide.”

The next generation bionic feet

Founded in 2019, Axiles Bionics is developing technologies at the intersection of robotics, artificial intelligence, and biomechanics to support mobility through prosthetics.

Its first product, Lunaris, is a robotic foot with FDA and CE certification that replicates natural walking patterns.

Lunaris represents a new approach to prosthetic technology aimed at improving movement for lower limb amputees. It serves as a base for future developments in the field, focusing on biomechanical function and responsiveness. 

Use in clinical settings is increasing, supported by rising interest from patients and professionals seeking alternatives to standard prosthetic options.

Svetoslava Georgieva, Chair of the European Innovation Council (EIC) Fund Board, says, “The EIC Fund is proud to participate in this funding round, supporting a European deeptech company that has already demonstrated impressive commercial success and clinical achievements.”

“Axiles Bionics exemplifies the kind of science-driven innovation Europe needs to stay globally competitive in health technology and human-centric robotics.

Pierre Cherelle, founder and CEO of Axiles Bionics, adds, “We envision a future where advanced bionics become standard, enhancing lives with superior mobility, health, and wellbeing. This funding is a vote of confidence in our vision, our team, and the patients we serve.”

“Lunaris has proven that intuitive, lifelike mobility is achievable today. With our pipeline of bionic technologies, we aim to raise the bar once more — and reshape the global standard of prosthetic technology.”

Investors supporting Axiles Bionics

PE Group, an evergreen private equity fund founded by Stefan Yee and backed by the Van Rompay family along with other investors, manages €125M. It established and leads PE Capital Group (PECG), a closed-end fund structured as a Belgian privak/pricaf. Both PE Group and PECG invest in medium-sized Belgian companies across multiple sectors. 

The European Innovation Council (EIC) Fund, established by the European Commission, invests in companies across all technologies, sectors, and EU countries, including those associated with Horizon Europe. It provides the equity component of the EIC Accelerator blended finance, with the European Investment Bank serving as investment adviser.

The EIC Fund aims to address financing gaps by supporting the development and commercialisation of disruptive technologies. It seeks to attract market participants, share risk, and enable follow-on funding through a broad network of capital providers and strategic partners. The Fund also focuses on supporting female founders and reducing the innovation divide across the EU.

Finance&Invest.brussels is a public limited company that supports businesses based in Brussels by providing financing solutions tailored to their development needs. It focuses on sectors that contribute to economic development and job creation.

The fund offers loans, equity investments, and guarantees to startups, scale-ups, SMEs, and small social enterprises and cooperatives. By addressing financing gaps and attracting private investors, Finance&Invest.brussels aims to strengthen the entrepreneurial ecosystem in Brussels.