German Bionic Secures $20M Funding for Exoskeleton Technology
The field of robotics has seen compelling progress with exoskeleton technology: rather than creating machines to fully replace people, the focus is on developing wearable hardware that enhances human capabilities. Today, German Bionic, a company specializing in exoskeletons for industrial and physically demanding jobs – describing its Cray X robot as “the world’s first connected exoskeleton for industrial use,” designed to assist with lifting and heavy work, offering increased strength, accuracy, and safety – has announced a new funding achievement that highlights the significant opportunities ahead.
The company, based in Augsburg, Germany, has secured $20 million in funding, which it intends to allocate towards the continued development of its business and its technology, encompassing both the physical hardware and the cloud-based software platform, German Bionic IO, that works in conjunction with the exoskeletons to optimize performance and facilitate continuous improvement.
The Cray X is currently capable of offsetting up to 30 kg during each lifting action, according to the company.
“Our innovative robotic technology, which merges human work with the Industrial Internet of Things (IIoT), provides immediate and lasting support for workers’ backs. Verified data demonstrates that this ultimately leads to increased productivity and improved work efficiency,” states Armin G. Schmidt, CEO of German Bionic. “The market for intelligent human-machine systems is substantial, and we are now well-positioned to capture a significant portion of it and meaningfully improve the working lives of many.”
This Series A funding round is jointly led by Samsung Catalyst Fund, the strategic investment division of the technology giant, and MIG AG, a German investor and one of the initial backers of BioNtech, the company responsible for developing the first globally distributed COVID-19 vaccine.
Storm Ventures, Benhamou Global Ventures (founded and led by Eric Benhamou, former CEO of Palm and 3com) and IT Farm also contributed to the round. Prior to this, German Bionic had raised $3.5 million in seed funding, with participation from IT Farm, Atlantic Labs, and individual investors.
German Bionic’s growth coincides with a pivotal moment in the evolution of automation and cloud technology within the workforce. Discussions surrounding the future of industrial work often center on increased automation and the deployment of robots to take over various production tasks.
However, a different approach has also been explored by some robotics specialists. Recognizing that creating robots that fully replicate human capabilities in terms of cognition and movement remains a distant prospect, the focus has shifted towards developing hardware that doesn’t replace, but rather enhances, human workers, augmenting their strength while preserving their valuable skills and expertise.
The need for increased automation in industrial environments has become particularly pressing with the emergence of the COVID-19 pandemic: factories have been identified as potential hotspots for outbreaks, prompting efforts to minimize physical contact and proximity to limit virus transmission.
While exoskeletons do not directly address the COVID-19 transmission issue – even with their use, human operators are still required – the heightened focus on automation has drawn increased attention to the potential of these technologies.
Furthermore, even independent of the pandemic, fully automated robots capable of replacing humans in all scenarios remain cost-prohibitive. As vaccinations are administered and our understanding of the virus improves, a robust market for exoskeleton technology is anticipated, with analysts (as cited by German Bionic) projecting a potential value of $20 billion by 2030.
Samsung’s investment is particularly noteworthy in this context: as a leading global provider of consumer and industrial electronics, the company operates extensive manufacturing facilities. Additionally, Samsung supplies equipment for use in industrial settings, both directly and through subsidiaries like Harman. It remains unclear whether Samsung intends to integrate the Cray X into its own manufacturing and logistics operations, or to collaborate as a strategic partner in its production for other companies; it is possible that both scenarios are being considered.
“We are delighted to support German Bionic in its ongoing development of cutting-edge exoskeleton technology,” says Young Sohn, corporate president and chief strategy officer for Samsung Electronics and chairman of the board, Harman. “Exoskeleton technologies hold significant promise for improving human health, wellbeing, and productivity. We believe this technology has the potential to become transformative and achieve widespread adoption.”
German Bionic characterizes its Cray X as a “self-learning power suit” primarily designed to support lifting movements and protect the wearer from potentially harmful actions that could lead to injury. This technology is applicable to a wide range of settings, including factories, warehouses, and even independent mechanics in local garages. The company has not disclosed a comprehensive customer list, but confirms it includes, according to a spokesperson, “a major logistics provider, industrial manufacturers and infrastructure facilities.” Stuttgart Airport is specifically mentioned as a customer on the company’s website.
“Historically, improvements in efficiency and worker health in manual labor have often been conflicting goals. German Bionic Systems has successfully overcome this challenge, integrating manual labor into the digital transformation and seamlessly incorporating it into the smart factory,” says Michael Motschmann, managing partner with MIG. “We recognize the immense potential of this company and are pleased to collaborate with a highly skilled team of experienced entrepreneurs and engineers.”
The concept of exoskeletons has existed for over a decade – MIT developed its first exoskeleton, intended to aid soldiers carrying heavy loads – as early as 2007, but recent advancements in cloud computing, smaller processors, and artificial intelligence have significantly expanded the possibilities for their application and augmentation of human capabilities. Beyond industrial uses, applications have emerged in areas such as assisting individuals with knee injuries (or preventing them) during skiing, and in medical rehabilitation, although the recent pandemic has temporarily disrupted some of these applications, resulting in production delays.
