DGAP-News: MIG Fonds invests in German Bionic Systems
vom 14.12.2020, 08:45 Uhr
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MIG Fonds invests in German Bionic Systems
14.12.2020 / 08:45
MIG Fonds invests in German Bionic Systems
German Bionic, a robotics specialist for industrial exoskeletons, raises US $20 million in a Series A round from international VC investors
MIG Fonds 5th new investment in 2020 following wealthpilot, Temedica, Neracare and Innatera
Munich, 14 December 2020
MIG AG, a leading German venture capital investor, today announced that its MIG Fonds 8 und 16 has invested in GBS German Bionic Systems GmbH, Augsburg, Germany, in a Series A financing. Both participating MIG Funds are each investing €2 million in the US $20 round, a total €4 million (US $4.8 million) from MIG. Besides MIG Fonds, Samsung Catalyst, Storm Ventures, Benhamou Global Ventures and IT Farm are co-investors in the Series A financing.
Robotics Specialist German Bionic Receives US $20 Million in Series A Financing
AUGSBURG, Germany, Dec. 14, 2020 /PRNewswire/ Â German Bionic, the global market leader for robotic exoskeletons, today announced it has closed US $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 financing round will enable German Bionic to expand its market and technology leadership for connected exoskeletons as well as ramp up development of its unique cloud robotics platform.
German Bionic s Cray X is the world s first connected exoskeleton for industrial use. By connecting it to any Smart Factory, the suit helps to 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, thus reducing the risk of developing musculoskeletal disorders in the lower back. Based