Russian company Steplife, a manufacturer of bionic prostheses, intends to raise 200 million rubles by the end of 2025 through a pre-IPO and bond placement. Over the next four years, the company plans to conduct an initial public offering (IPO) on the stock exchange.
The funds raised in the pre-IPO will be used to develop a new generation of bionic prostheses with an external power source, including arm prostheses at the forearm and shoulder levels. Potential investors include retail and institutional investors. Analysts estimate the company's value at 1.5–2 billion rubles, and in an optimistic scenario, up to 3 billion rubles.
Steplife, founded in 2019 in Moscow, has shown significant growth: revenue in 2024 increased by 112% to 240 million rubles, and net profit increased by 311% to 96 million rubles. The company leads among Russian medtech companies in terms of growth rates in 2024 and the first half of 2025, according to data from the Smart Ranking agency.
The prosthesis market in Russia is growing by 23% annually and, according to Steplife's forecasts, will reach 157.2 billion rubles by 2029. The share of bionic prostheses by 2028 may reach 60% of the market in physical terms. However, experts note that for a successful IPO, the company will need to increase EBITDA to 2 billion rubles, which may be challenging due to the slowing growth of the market. To accelerate development, Steplife may conduct additional rounds of financing or mergers and acquisitions.
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