Koalaa, a Black-owned London-based startup, has closed a $1.2 million (£925,000) investment round that will drive its international expansion. 

The British Design Fund led this funding round with a £200,000 ($250,000) investment from the Imperial College Enterprise Fund II. 

“A huge thank you to British Design Fund, Imperial College Enterprise Fund, and our angel investors for their continuing support,” said founder Nathan Macabuag.

“I still find it incredible that something that started as a spark of an idea at University has turned into a fully-fledged company, employing a team of 18 people and around 1,000 people worldwide now using Koalaa prosthetics.”

“Nate and the team are a great example of the innovative startups being founded by Imperial’s community,” said Dr Brijesh Roy, Head of Startup Investment Funds at Imperial. “Koalaa’s soft prosthetics are addressing an unmet need, and the investment provides the financial fuel to scale this impact globally.”

The funds raised will support ongoing product development and the growth of Koalaa’s team in the UK and overseas. Additionally, the company will expand its work with clinicians and NGOs internationally, including increasing the supply of prosthetics to those within conflict zones.

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Meet Koalaa

Established in 2020 by Imperial College alumnus Macabuag, Koalaa has been dedicated to addressing three critical challenges the limb-difference community faces worldwide.

These are access, affordability, and comfort, with their creations crafted from breathable fabric, offering a lightweight alternative to conventional prosthetics.

Macabuag was named part of Forbes’ 30 Under 30 Europe Class of 2021. His design through Koalaa has significantly benefited young children and facilitates affordable global distribution.

Currently, Koalaa’s team includes 18 members, and its unique soft prosthetic arms serve approximately 1,000 users globally.

The product line features designs like the ALX, Paww, Joeyy, and Day One prosthetics. It caters to diverse needs, from below-elbow limb differences to immediate post-amputation use.

The prosthetics are noteworthy for their interchangeable tools that facilitate various activities, from tennis and yoga to cooking and playing the guitar.

A ‘limb buddy’ system also supports new users, ensuring guidance and support throughout their journey with Koalaa’s products.