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German Bionic raises $16.3M for powered exoskeletons

German Bionic, a developer of electrically powered exoskeletons, raised more than $16.3 million in an expanded Series A funding round to intensify its relationship with its industrialization partner, Mubea.

Mubea is a German automotive supplier. German Bionic said it’s elevating its partnership with the supplier to superior encounter the escalating demand for smart occupational safety systems.

“The strengthening of our partnership underscores Mubea’s commitment to advance sustainable mobility solutions,” said Thomas Muhr of Mubea. “Our expertise in smart lightweight solutions coupled with a proven track record in successfully launching large-scale production projects align seamlessly with the shared growth objectives we are pursuing alongside German Bionic.”

“With our investment in the technology leader for smart e-suits, we are sustaining the upscaling of a revolutionary technology that not only increases the efficiency of human work but also contributes to employee health and safety. Given the prevailing labor shortage, we identify an exponentially expanding market for e-exoskeletons,” Muhr added.

Mubea guided the Series A round, which also encompassed participation from prevailing investors in the enterprise. Those encompass Benhamou Global Ventures, Bayern Kapital, IT Farm, Kailua Ventures, Cumberland VC, and Family Office Klein.

German Bionic currently purveys two exoskeletons: Apogee for the logistics and retail sectors, and Apogee+ for the healthcare sector. These exoskeletons are fully-connected wearables for the workplace aimed to amplify lifting movements and impede poor posture while providing real-time data. German Bionic said this simultaneously protects employees’ health and improves work processes.

“The emphasis on occupational safety is maturing in workplaces globally,” said Armin G. Schmidt, CEO of German Bionic. “Our aging societies can no longer afford to lose people due to illness or early retirement. German Bionic is benefiting from today’s trend towards investing in occupational health to ensure a resilient workforce of tomorrow.”

Apogee+, German Bionic’s latest innovation announced in August 2023, is devised to provide lift assistance to caregivers. This exoskeleton offers up to 66 lbs of back relief with every lift to address concerns with care worker safety and job satisfaction. Apogee+ also features integrated grips to enhance the ease of lifting patients.

As labor shortages intensify across industries akin to manufacturing, logistics and healthcare, demand for collaborative robots and exoskeletons that can augment human strength and prevent workplace injury will likely persist maturing exponentially. Strategic partnerships between companies developing these wearables and large-scale production partners to scale up manufacturing will be key to seizing this expansive opportunity.

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