Wandercraft, French Exoskeleton Maker, Targets US Expansion with $45M Series C

Wandercraft's Expansion with $45 Million Series C Funding

Established in 2012, Wandercraft initially set out to enhance the mobility options available to individuals who use wheelchairs. Their approach centers around the development of exoskeletons, providing users with the potential to ambulate through robotic support.

Atalante: A Self-Balancing Exoskeleton

In 2019, the Paris-based company introduced Atalante, a groundbreaking self-balancing exoskeleton. This device features 12 degrees of freedom and utilizes sophisticated walking algorithms to analyze and adapt to a user’s individual gait pattern.

Securing Series C Funding

Wandercraft has recently announced the successful completion of a $45 million Series C funding round. This investment more than doubles the company’s total funding, exceeding the previous $30.5 million raised.

The funding round was spearheaded by Quadrant Management, a U.S.-based investment firm, with continued support from existing investor Bpifrance.

Expanding into the U.S. Market

Quadrant Management’s involvement is significant, signaling Wandercraft’s strategic expansion beyond the European market and into the United States.

CEO Statement

“We are super excited to have attracted world-class investors from the USA and Europe to advance the development program of the company,” stated Matthieu Masselin, CEO of Wandercraft, in a press release.

He further emphasized that, “With the support of patients, medical professionals and the DeepTech community, Wandercraft’s team has created a unique technology that improves rehabilitation care and will soon enable people in wheelchairs to regain autonomy and improve their everyday health.”

Navigating a Competitive Landscape

As Wandercraft enters the U.S. market, it will encounter a competitive field. Several established exoskeleton companies, including ReWalk Robotics, Ekso, SuitX, and Sarcos, already operate within the country.

These competitors have collectively secured substantial funding and forged notable partnerships.

A Focused Approach to User Mobility

However, Wandercraft distinguishes itself through a concentrated focus on enhancing user mobility. Many competitors also target applications in areas such as industrial labor or military operations.

Strategic Partnerships in Healthcare

This specialization necessitates strategic collaborations with hospitals and other healthcare institutions.

The company will, in part, be focusing on partnering with hospitals and healthcare providers.