German Bionic closes financing round

The Augsburg-based start-up German Bionic seems to be going down well with investors. It has now raised 20 million dollars in a Series A financing round.

Christmas in lockdown means one thing above all: parcels, parcels, parcels. The start-up German Bionic produces intelligent lifting aids that are primarily used in the logistics sector. The exoskeletons are robots that are worn directly on the body. They relieve strain by supporting lifting movements and are also designed to prevent incorrect posture. So far, the exoskeletons have been used in Germany and Japan.

The Augsburg-based company has now raised 20 million dollars in a Series A financing round. According to the company, this is intended to drive international expansion in particular. Analysts estimate the market volume at over 20 billion dollars by 2030.

Investors are the venture capitalists Samsung Catalyst and IT Farm, who come from Japan. In addition, the funds Storm Ventures and Benhamou Global from the USA. MIG, a Munich-based venture capitalist, is involved from Germany. Managing Partner Michael Motschmann sees "immense potential" in the technology, which combines "increased efficiency and health promotion in manual, physical work" and has managed to "elegantly integrate this into the smart factory."