EBRD makes equity investment in bionic prosthetics firm in Ukraine

• EBRD makes US$ 1.25 million direct equity investment in tech company Esper Bionics
• Proceeds to finance an expansion of production facilities, including new products, software
• Bionic prosthetics will support amputees' rehabilitation and return to work

The EBRD is making a direct equity investment of US$1.25 million in Esper Bionics (Esper), a producer of bionic upper-limb prosthetics that has research and development and manufacturing facilities in Ukraine. This project will enhance access to affordable bionic prosthetics, promoting the development of Ukraine's hi-tech sector while helping war veterans and other amputees enhance their quality of life and reintegrate into the workforce.

Esper aims to expand both its operations in Ukraine and global sales, while also developing and launching lower-limb prosthetics at a later stage. The current financing round of US$ 5 million will be co-financed by tech-focused venture capital funds YZR and U.Ventures.

The company's bionic prosthetics restore physical function and economic independence for amputees, enabling them to perform complex work tasks and engage in active lifestyles.

"We are pleased to invest in Esper to support their mission of enhancing access to affordable bionic prosthetics in Ukraine. This is crucial to helping more war veterans and other amputees enhance their quality of life and reintegrate into the workforce.

"Our investment will also promote innovation and development of Ukraine's tech ecosystem, which will contribute to Ukraine's long-term growth," said Arvid Tuerkner, EBRD Managing Director, Ukraine and Moldova.

Technical support from the EBRD will improve training and professional standards for Ukraine's prosthetists working with bionic and "myoelectric" products - those controlled by electrical signals generated by their users' remaining muscles.

The project will benefit female users in particular, through design features which set the company's products apart from many larger, heavier alternatives that are currently unusable by 20-30 per cent of female amputees in Ukraine.

Between 2022 and 2024, Esper Bionics' flagship product, the Esper Hand, has won awards including the Red Dot "Best of the Best" award, recognition (with a cover feature) as one of Time magazine's Best Innovations of 2022 and the CES Innovation Award in the Wearable Technologies category.

The EBRD, Ukraine's largest institutional investor, has sharply increased its investment in the country since Russia invaded in February 2022. The Bank has made more than €4 billion available to Ukraine since the start of the war. It focuses on assisting Ukraine's real economy by supporting the country's energy security, vital infrastructure, food security, trade and the private sector.

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