Augsburg, Germany-based German Bionic, a manufacturer of smart robotic exoskeletons and related software solutions, today announced that it has closed $20 million in Series A financing.
The funding round was led by Samsung Catalyst Fund and Munich-based MIG, with participation from US investors like Storm Ventures and Benhamou Global Ventures, and Japanese VC firm IT Farm.
German Bionic wants to provide the link between humans and machines in logistics and others industrial settings with its 'Cray X', which it dubs the world’s first connected exoskeleton. Basically, the company's self-learning power suit is designed to boost worker productivity as well as health and safety, reinforcing lifting movements whilst preventing improper exertion and excessive strain.
Interestingly, German Bionic has also developed a cloud robotics platform to go with the suit, which it says can deliver real-time data to provide the basis for machine learning and carry KPIs to end users, while also enabling remote maintenance as well as over-the-air software updates.
Armin G. Schmidt, CEO of German Bionic, says:
"With our groundbreaking robotic technology that combines human work with the industrial Internet of Things (IIoT), we literally strengthen the shop floor workers’ backs in an immediate and sustainable way. Measurable data underscores that this ultimately increases productivity and the efficiency of the work done."
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