German Bionic closes financing round

Augsburg-based startup German Bionic seems to be doing well with investors. Now it's raising $20 million in a Series A funding round.

Christmas in Lockdown means one thing: packages, packages, packages. Start-up German Bionic makes intelligent lifting aids that are used primarily in the logistics industry. The exoskeletons are robots that are worn directly on the body. They relieve strain by supporting lifting movements and are also intended to prevent incorrect posture. So far, the exoskeletons are being used in Germany and Japan.

Now the Augsburg-based company was able to raise $20 million in a Series A financing round. This is to be used in particular to drive international expansion, the company announced. Analysts estimate the market volume to be over 20 billion dollars by 2030.

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