A month after launching its successful crowdfunding campaign, Spring Loaded Technology has announced a $1.9 million venture capital investment and a new $1 million contract with the Canadian military.

The Dartmouth company has developed the Levitation knee brace, which strengthens the joint as well as stabilizes it, and has received US$172,000 ($229,000) in orders through its Indiegogo campaign, which ends in three days.

Today, the company issued a release saying it has raised $1.9 million in funding from Halifax-based Build Ventures, headed by Rob Barbara and Patrick Keefe. Spring Loaded had previously raised more than $1.8 million in equity and non-dilutive capital, including investments from the First Angel Network and Innovacorp.

“Spring Loaded Technology has the potential to revolutionize the marketplace,” said Barbara in a statement. “The affordable technology they’ve developed will make bionics more accessible. We’re excited to see this company continue to develop its offerings and impact the industry.”

In an interview, Spring Loaded CEO Chris Cowper-Smith said the parties agreed to a $1.9 million funding through negotiation, with Build wanting to invest more but Spring Loaded feeling more comfortable with a smaller investment.

“We’ve been chatting with Build for several months and we’re at an earlier stage than they usually like when they come into a company,” said Cowper-Smith. He added the investors came in now because they were impressed with the traction Spring Loaded has gained in its crowdfunding campaign and its deal with the Canadian military.

“Patrick and Rob as VC investors are generalists but they’re also very deep thinkers and they have provided great insights into our business and strategy,” he said.

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Since they began in 2012, Cowper-Smith and his Chief Technical Officer Bob Garrish have been working on a brace that gains energy when the knee bends and then releases it when the knee strengthens, increasing the power in the joint. They tested and rejected three different joint technologies before settling on the fourth.

Spring Loaded also said today it has signed a contract worth $1 million with the Canadian Department of National Defence, which is the first contract for the military applications of the Levitation knee brace.  Cowper-Smith said the military is interested in the product for performance enhancement and injury prevention.

The Levitation knee brace could allow elite troops to greatly increase the equipment they carry on commando excursions. These soldiers now greatly increase their chance of injury if they carry more than 80 or 90 pounds, but Levitation could increase that to about 120 pounds. Or the knee braces could reduce the risk of injury as they crouch, stand and run on uneven terrain.

“What our brace would enable people to do is carry that extra 30 or 40 more of gear,” said company spokesman J.J. Podboski in an interview last month. “Picture a whole platoon where everyone can carry an extra 30 or 40 pounds of ammunition, food, equipment – they’re going to have  pretty distinct advantage over the enemy.”

Cowper-Smith said the company is pleased with the results of the crowdfunding campaign. It launched the product on Indiegogo just to see if they could sell the Levitation brace through an eCommerce channel. They will continue with an eCommerce sales strategy but are also looking at more traditional retail sales procedures. 

Disclaimer: Build is a client of Entrevestor.