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December 14, 2020

GermanBionic 400x275Robotic exoskeleton maker German Bionic announced it closed $20 million in Series A financing. The round was led by Samsung Catalyst Fund and MIG AG, with participation from Storm Ventures, Benhamou Global Ventures, and IT Farm.

The new financing will enable the company to expand its market for connected exoskeletons, as well as ramp up development of its cloud robotics platform. The Cray X is a connected exoskeleton for industrial use, which helps boost worker productivity as well as health and safety. The smart, self-learning power suit reinforces lifting movements and prevents improper exertion and excessive strain, reducing the risk of accidents while also increasing worker efficiency and productivity, German Bionic says. 

“With our groundbreaking robotic technology that combines human work with the industrial Internet of Things, we literally strengthen the shop floor workers’ backs in an immediate and sustainable way,” said Armin G. Schmit, CEO of German Bionic. “Measurable data underscores that this ultimately increases productivity and the efficiency of the work done. The market for smart human-machine systems is huge, and we are now perfectly positioned to take a major share and substantially improve numerous working lives.”

The fourth generation of the Cray X is currently being deployed as a smart lifting aid, particularly in logistics and intralogistics processes, the company said. By providing up to 30 kg of relief per lifting movement, the system can protect the health of workers, reduce the risks of accidents, thus increasing efficiency and productivity.

"Previously, efficiency gains and health promotion in manual labor were often at odds with one another. German Bionic managed to not only break through this paradigm, but also to make manual labor a part of the digital transformation and elegantly integrate it into the smart factory," said Michael Motschmann, Managing Partner with MIG AG. "We see immense potential with the company and are particularly happy to be working together with a first-class team of experienced entrepreneurs and engineers."

For more details on the robot and German Bionic, visit the company’s website.