Self-balancing electric wheelchair developer secures funding - Insider Media
Summary
A Birmingham-based company that has developed a self-balancing electric wheelchair has secured funding to enable it to begin production.Centaur Robotics has secured \xa3500,000 from the Midlands Engine Investment Fund (MEIF I) through the MEIF West Midlands Equity Fund, managed by Midven, part of the Future Planet Capital Group; with additional funding from Seedrs and angel investors.The companys Centaur wheelchair self-balances on two wheels, which allows increased mobility compared to traditional four-wheel models. "We are not just building a chair; we are crafting a future where mobility solutions enhance independence and contribute to a more inclusive society. "Midven has supported Centaur Robotics beyond the funding process, introducing the company to industry leaders in the mobility space.Tony Stott, investment director at Midven, said: "Centaur Robotics is at the forefront of revolutionising mobility solutions for wheelchair users. This investment marks a significant milestone in their journey, allowing them to bring their innovative self-balancing electric wheelchair to production. "Mark Wilcockson, senior investment manager at the British Business Bank, added: "The Midlands Engine Investment Fund supports innovative small businesses in the Midlands that will have a positive impact on local economies.