New Berlin-based senior care manufacturing startup Motivo Inc. has completed a $950,000 series A round.
The company has now raised a total of almost $5 million from private investors, as well as Wisconsin Economic Development Corp. and Milwaukee Economic Development Corp. loans, over the past five years, said co-founder Jeremy Knopow. Former Mortara Instrument chief executive officer Justin Mortara was the lead investor in this most recent round.
Motivo, which created an innovative walker for increased mobility, plans to use the proceeds to ramp up its marketing and fund another production run of its newest version of its product, the 2018 Motivo Tour Walker.
“We’re actually working on a national TV campaign,” Knopow said.
The company has nine employees. It moved from Franklin to its current 25,000-square-foot facility about two years ago to accommodate its in-house manufacturing, warehouse and fulfillment.
Co-founders Knopow and Jennifer Harris had more than 40 years of combined experience designing products for companies such as Kohler Co., S.C. Johnson & Son and Procter & Gamble Co.
“We both had personal experiences with family members who needed to use these kinds of products,” Knopow said. “I wanted there to be something better and that motivated me to want to take this on.”
“The more time I’ve spent with the Motivo team, the more impressed I became with their design philosophy, manufacturing and marketing acumen,” Mortara said. “The Tour is a solution to a real issue that impacts so many, and I’m pleased to lend my support to assist in developing the scale and reach this solution deserves.”