Fundraising FoxRxFunction
Eden Prairie, US · Minnesota corporation
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RxFunction develops Walkasins, a wearable lower limb sensory prosthesis that replaces lost nerve function for detecting and signaling foot pressure. It is intended for patients with peripheral neuropathy who have gait and balance impairments and are at high risk of falls.
Founders & leadership
LO
Lars OddssonFounderLars Oddsson holds a PhD and has held faculty positions in medical device innovation and rehabilitation science at the University of Minnesota, as well as academic appointments at Karolinska Institutet, Boston University, MIT, and Harvard Medical School. He founded the Sister Kenny Research Center at Allina Health and is co-founder of RxFunction, which commercializes a wearable sensory prosthesis for patients with peripheral neuropathy.
MA
Mary AndersonExecutiveMary Anderson is an executive with 25 years of leadership experience in healthcare startups and medical device companies, including roles that involved product commercialization, reimbursement strategy, and customer service operations.
JD
Joseph Daniel LeachNamed on SEC filing
Board
RR
Robert RinekBoard director
RN
Richard NigonBoard director
KR
Kevin RocheBoard director
RO
Richard OfferdahlBoard director
Reported raises · per SEC filings
Form D private placements$28.4M disclosed across 7 rounds · 2017–2022
▶$4MraisedOct 2025 · 41 investors · ManufacturingRule 506(b)
▶$4MraisedOct 2025 · 41 investors · Manufacturing
Rule 506(b)Officers, directors & promoters on the filing
- Robert RinekDirector
- Richard NigonDirector
- Kevin RocheDirector
- Richard OfferdahlDirector
- Mary E. AndersonExecutive Officer, Director
- Lars OddssonExecutive Officer, Director
- Offering amount
- $4.3M
- Amount sold
- $4M
- Sales commissions
- $358.7K
- Placement agents
- Cedar Point Capital, LLC
- First sale
- Mar 2019
- Incorporated
- Corporation, Minnesota
- Federal exemptions
- 06b
▶$7.5MraisedOct 2025 · 48 investors · ManufacturingRule 506(b)
▶$7.5MraisedOct 2025 · 48 investors · Manufacturing
Rule 506(b)Officers, directors & promoters on the filing
- Mary E. AndersonExecutive Officer, Director
- Robert RinekDirector
- Kevin RocheDirector
- Richard NigonDirector
- Richard OfferdahlDirector
- Lars OddssonExecutive Officer, Director
- Offering amount
- $8.1M
- Amount sold
- $7.5M
- Sales commissions
- $769K
- Placement agents
- Cedar Point Capital, LLC
- First sale
- Dec 2017
- Incorporated
- Corporation, Minnesota
- Federal exemptions
- 06b
▶$5MraisedNov 2022 · 1 investors · ManufacturingRule 506(b)
▶$5MraisedNov 2022 · 1 investors · Manufacturing
Rule 506(b)Officers, directors & promoters on the filing
- Richard NigonDirector
- Robert RinekDirector
- Mary E. AndersonExecutive Officer, Director
- Lars OddssonExecutive Officer, Director
- Richard OfferdahlDirector
- Kevin RocheDirector
- Offering amount
- $10M
- Amount sold
- $5M
- Sales commissions
- $500K
- Placement agents
- Cedar Point Capital, LLC
- First sale
- Oct 2022
- Incorporated
- Corporation, Minnesota
- Federal exemptions
- 06b
▶$5.9MraisedMar 2022 · 2 investors · ManufacturingRule 506(b)
▶$5.9MraisedMar 2022 · 2 investors · Manufacturing
Rule 506(b)Officers, directors & promoters on the filing
- Mary E. AndersonExecutive Officer, Director
- Joseph Daniel LeachExecutive Officer
- Lars OddssonExecutive Officer, Director
- Richard OfferdahlDirector
- Kevin H. RocheDirector
- Richard NigonDirector
- Robert P. RinekDirector
- Offering amount
- $6M
- Amount sold
- $5.9M
- First sale
- Nov 2020
- Incorporated
- Corporation, Minnesota
- Federal exemptions
- 06b
▶$3.9MraisedJan 2022 · 33 investors · ManufacturingRule 506(b)
▶$3.9MraisedJan 2022 · 33 investors · Manufacturing
Rule 506(b)Officers, directors & promoters on the filing
- Kevin RocheDirector
- Robert RinekDirector
- Lars OddssonExecutive Officer, Director
- Richard OfferdahlDirector
- Joseph Daniel LeachExecutive Officer
- Mary E. AndersonExecutive Officer, Director
- Richard NigonDirector
- Offering amount
- $4.5M
- Amount sold
- $3.9M
- Sales commissions
- $82K
- Placement agents
- Cedar Point Capital, LLC
- First sale
- Jan 2021
- Incorporated
- Corporation, Minnesota
- Federal exemptions
- 06b
▶$2.1MraisedMar 2018 · 2 investors · ManufacturingRule 506(b)
▶$2.1MraisedMar 2018 · 2 investors · Manufacturing
Rule 506(b)Officers, directors & promoters on the filing
- Lars OddssonExecutive Officer, Director
- Joseph D. LeachExecutive Officer, Director
- Thomas E. MorizioExecutive Officer, Director
- Richard NigonDirector
- Mary AndersonExecutive Officer
- Robert RinekDirector
- Kevin RocheDirector
- Offering amount
- $3.5M
- Amount sold
- $2.1M
- Sales commissions
- $350K
- Proceeds to insiders
- $695K
- Placement agents
- Cedar Point Capital, LLC
- First sale
- Mar 2018
- Incorporated
- Corporation, Minnesota
- Federal exemptions
- 06b
▶$100KraisedAug 2017 · 1 investors · ManufacturingRule 506(b)
▶$100KraisedAug 2017 · 1 investors · Manufacturing
Rule 506(b)Officers, directors & promoters on the filing
- Lars OddssonExecutive Officer, Director
- Joseph Daniel LeachExecutive Officer, Director
- Offering amount
- $2M
- Amount sold
- $100K
- Minimum investment
- $100K
- First sale
- Aug 2017
- Incorporated
- Corporation, Minnesota
- Federal exemptions
- 06b
Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.
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Companies working in the same space as RxFunction.
Non-dilutive funding · 3 SBIR/STTR awards
Federal grants — no equity taken| Agency | Phase | Year | Amount |
|---|---|---|---|
| Department of DefenseDefense Health Program | Phase II | 2020 | $1.1M |
| National Institutes of Health (NIH)National Institutes of Health | Phase II | 2013 | $1.1M |
| National Institutes of Health (NIH)National Institutes of Health | Phase I | 2011 | $162K |
Source: SBIR.gov award data (U.S. Small Business Administration). SBIR/STTR awards are competitive federal R&D grants and contracts — non-dilutive capital alongside any venture rounds above.
Frequently asked questions
- What does RxFunction do?
- RxFunction develops Walkasins, a wearable lower limb sensory prosthesis that replaces lost nerve function for detecting and signaling foot pressure. It is intended for patients with peripheral neuropathy who have gait and balance impairments and are at high risk of falls.
- Who founded RxFunction?
- RxFunction was founded by Lars Oddsson.
- How much funding has RxFunction raised?
- RxFunction has disclosed $28.4M raised across 7 rounds.
- Where is RxFunction headquartered?
- RxFunction is headquartered in Eden Prairie, US.