PSYONIC

Redefining Human
Overview
Raised: $1,003,227
Rolling Commitments ($USD)
Active
03/28/2023
33
10,033%
81%
$6,270
507
2015
Healthcare & Pharmaceuticals
Biotech
B2C
Low
High
Summary Profit and Loss Statement
Most Recent Year | Prior Year | |
---|---|---|
Revenue |
$652,789 |
$674,145 |
COGS |
$872,488 |
$597,900 |
Tax |
$0 |
$0 |
| ||
| ||
Net Income |
$-441,251 |
$-134,679 |
Summary Balance Sheet
Most Recent Year | Prior Year | |
---|---|---|
Cash |
$158,324 |
$389,163 |
Accounts Receivable |
$162,197 |
$15,500 |
Total Assets |
$320,520 |
$558,650 |
Short-Term Debt |
$89,424 |
$86,381 |
Long-Term Debt |
$1,427,500 |
$1,227,500 |
Total Liabilities |
$1,516,924 |
$1,313,881 |
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Part of my daily routine is to scroll through news stories in the morning. And I recently saw an article about limb loss that shocked me. Around 185,000 amputations occur each year in the U.S. — that’s 300 to 500 every day. And that number doesn’t include babies who are born with limb differences. Hanger Clinic expects 3.6 million people in the US will live with limb differences by 2050. People with limb differences and limb loss face challenges not only with daily activities, but with mental and financial health as well. Depression affects 36% of the limb loss community, and lifetime healthcare costs $150,000 more for people with limb differences compared to people with complete limbs.
Prosthetic limbs help many people with these challenges and daily activities. But it can be hard to find a prosthetic that’s both affordable and functional. Traditional passive (meaning they are not functional, but appear similar to a natural arm) silicone prosthetics typically cost $5,000 (without insurance) but have very limited functionality. Bionic hands can cost anywhere from $10,000 to more than $50,000 depending on the manufacturer.
But what if there wasn’t an inherent trade-off between price and function? That’s why I’m excited to introduce PSYONIC, a company that aims to provide advanced prosthetic limbs at an affordable price.