Austrian MedTech startup Rewellio raised €800K to revolutionize the stroke rehabilitation and to further expand on the market, Austrian website TrendingTopics announced. Reportedly the investment was made by the Austrian Research Promotion Agency (FFG).
Founded in 2017 Rewellio is a startup that provides platform for stroke patients and therapists. In his more than a decade experience as a therapist, Revellio’s founder, Georg Teufl, developed a therapy that would enable patients to continue their training at home after an hour of therapy. His interest for virtual and augmented reality together with his knowledge as a therapist made it possible for him to create Rewellio.
“During my ten years as a physiotherapist focusing on stroke rehabilitation, I was able to get a clear picture of the advantages and disadvantages of conventional therapy methods. Thanks to my initial training as a software developer, I am now particularly good at understanding and connecting the worlds of physiotherapy and software development, “said Rewellio’s Founder and CEO, Teufl, Trending Topics reported.
As announced by the company, Rewellio will work with VR glasses and EMG biofeedback bracelets to help patients train certain stroke-related activities. At the moment their products are in beta phase enabling a great number of selected patients and therapists to test and used their platform.
Reportedly Teufi will use this investment to try and continue with his mission in revolutionizing the process of stroke rehabilitation.
“With the investment we now have, we are able to move a step closer to our ambitious goal of revolutionizing the field of stroke rehabilitation.”
Not only that the startup will try and revolutionize the rehabilitation of stroke patients, but will also try and expand on the US market. Namely, Revellio, has already opened an office in Los Angeles and obtain certification to use the software in both, Europe and US. Also the startup participated in the 2018 Challenge Challenge and the International Pitching Days in early 2019 in New York.
The Austrian Research Promotion Agency (FFG), on the other hand, is the national funding agency for industrial research and development in Austria. As a “one-stop shop” offering a diversified and targeted program portfolio, the FFG gives Austrian businesses and research facilities quick and uncomplicated access to research funding.
The FFG was founded on 1 September 2004 and is wholly owned by the Republic of Austria, represented by the Federal Ministry for Transport, Innovation and Technology and the Federal Ministry of Science, Research and Economy. As a provider of funding services, however, the FFG also works for other national and international institutions.
