Auxivo, developer and manufacturer of exoskeletons to support industrial workers performing physically demanding tasks, has closed a new financing round. Led by venture capital firm Ankaa Ventures, the startup received additional support from existing investors.
The new investment will be instrumental in accelerating research and development initiatives at Auxivo, allowing the company to advance its technology and introduce new products and features that cater to the specific needs of diverse industries. This commitment to continuous improvement and product development ensures that Auxivo remains at the forefront of the young exoskeleton industry.
Furthermore, with the new funding, Auxivo will expand its international presence, targeting key markets worldwide. By establishing strategic partnerships and growing its operations internationally, Auxivo aims to bring its products to a wider audience, making a positive impact on a global scale.
“We strongly believe in Auxivo’s ability to drive innovation in the emerging exoskeleton market and develop impactful solutions to create sustainable working conditions across various industries”, said Damien Pierron, Partner at Ankaa Ventures, the lead investor in Auxivos latest round. "Improving health at work is a global issue, and we aim to leverage our international network to accelerate Auxivo's expansion into new markets".
The partnership with Ankaa Ventures confirms Auxivo's ability to shape the future of the exoskeletons industry. "We are excited to have Ankaa Ventures as a partner with deep industry knowledge. Their support aligns with our commitment to advancing exoskeleton technology for the benefit of workers worldwide", adds Volker Bartenbach, CEO of Auxivo.
Founded in 2019 as an ETH Zurich spinoff, the startup develops advanced occupational exoskeletons to reduce the physical workload and risk of injuries in sectors like logistics, manufacturing, construction, or healthcare. The systems can be worn by workers and provide support to reduce the strain on the body during work.
The company aims to make exoskeletons accessible to everyone by developing systems that are easy to use and offer high performance at a fair price. The company's vision is that occupational exoskeletons will become the new normal for sustainable and healthy physical labor.
Already today, Auxivo has launched multiple products used by thousands of customers around the globe. The LiftSuit® is a textile back support exoskeleton for repetitive lifting activities and prolonged forward-leaning, while the CarrySuit® enables the ergonomic carrying and handling of heavy loads. The new DeltaSuit® shoulder support exoskeleton, launched in May 2023, introduced novel features such as its hybrid frame with dynamic misalignment compensation to combine a high level of assistance to its users with maximum freedom of movement. It is used in industries requiring frequent work at or above shoulder level, like construction, manufacturing, maintenance, or logistics.
(Press release/RAN)
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